The announcements were fun and produced buzz but trends die fast in today’s society. With the marketing plan in place, the next step for Puma is to actually sell product. They are also offering an official endorsement deal to any player who competes in TBT and then signs with an NBA team the following season. Puma will receive promotional rights to all TBT games and a huge presence during ESPN broadcasts. When money becomes involved anything is possible, and Bagley reportedly signed the largest rookie contract with a sneaker brand since Kevin Durant.Īnother attempt to gain attention of the court saw the brand announced a multi-year partnership with the The Basketball Tournament (TBT), becoming the leagues exclusive footwear and apparel partner. Any other year athletes would be expected tod sign with a brand that has been by their side since the grassroots level-but that wasn’t the case. Bagley III and Ayton both have maintained strong ties to brands like Nike on the AAU and high school basketball circuit for years. Prospects are taking the power into their own hands and trying to be independent.
I had a vision, and I'm just trying to follow the vision and put as much as I can to it.”īuyer Beware: Think Twice Before Signing These Five NBA Free Agents I just think being different is a big thing for me, and that's my motto. They were trying to do something good for Lonzo and the rest of the family. I kind of respected it, because it was different and it wasn't what everybody was doing. “I remember when Lonzo and LaVar Ball first came out with Big Baller Brand and Lonzo's shoe, then LaMelo's shoe, everybody was bashing them for it and talking down on them for it. Just read what Bagley III told Bleacher Report: Last year we saw the Ball family strike out on its own, and their foray into football has inspired basketball‘s new generation of sneaker pitchmen. Keep your eye on Puma's unique strategy as they have their desires set on becoming next hot thing in basketball and eventually American shoes and leisure wear.The basketball business has changed quite a bit and prospects are more willing to bet on themselves. With their bold return into NBA basketball, this is a company on the rise. According to Puma's released financial reports, the 2017 Q1 profits increased by about 92% to $54 million over the previous year's Q1 profits, so people are beginning to take notice. This has had a dynamic effect on their EBIT (Earnings Before Interest & Tax), which rose by 70%. They have a very strong presence in international soccer with stars like France's Antoine Griezmann, Argentina's Sergio Aguero and Belgium's Romelu Lukaku. Puma's recent ambassador campaign used celebrities including Usain Bolt, Kylie Jenner, Selena Gomez and Rihanna.
Puma is an athleisure company using shoes to support its activewear. He is a powerful figure with the potential to create heat around Puma shoes. Puma hired platinum-selling and Grammy award-winning artist Jay-Z as the Creative Director of Basketball Operations. The younger generation of purchasers can be fickle and look for the next "it thing," as they often look to celebrities to dictate trends and fashion. Puma has its work cut out with the jump back into basketball, but the cyclical nature of the shoe market offers an opportunity. The Adidas "Superstar" shoe became the top-selling shoe in this country, and the sales of that shoe rose by six times. Adidas has been the main competitor.Īdidas signed James Harden, Damian Lillard and Kanye West as celebrity spokesmen and their sales rose by 20% between 2016-17. LeBron James' signature shoe alone produces $340 million in annual sales.
Combined with massive amounts of high production value advertising, Nike has been the dominant brand in this space. Nike has LeBron James, Michael Jordan, Kobe Bryant, Kevin Durant and many other NBA stars as spokesmen. Fans can see the shoes NBA stars wear on the court and purchase the same shoes, unlike other team sports. The use of celebrity athletes has had a powerful impact on building not only shoe sales but the clothing and apparel market influenced by brand identification. The last NBA athlete to represent Puma was Vince Carter, back in 1998. They also signed the 14th and 16th picks - Michael Porter Jr. Puma recently took a bold step to stake its claim by signing Deandre Ayton and Marvin Bagley, the first two picks in the recent NBA Draft. Nike and Adidas have long dominated the American market. athletic footwear industry was a $19.6 billion market, with almost 100 million people claiming to have bought athletic shoes last year.