Puma Shifts North American Distribution to Exclusive License with United Legwear

Puma is strategically overhauling its distribution model for the North American market, converting its long-standing partnership with United Legwear Company LLC (ULAC) into an exclusive license agreement. Under this revised arrangement, ULAC will now primarily manage the sale of Puma socks, underwear, and children's apparel and accessories across both the US and Canada. This significant shift became effective on November 1, marking a new phase in Puma's regional operations.

This transition from a joint partnership to an exclusive licensing deal is a key component of Puma's broader strategic priorities. The Herzogenaurach-based sportswear giant aims to significantly reduce the complexity of its North American business model, allowing for a more concentrated focus on its core business activities within the region. This move is designed to streamline operations and enhance strategic agility in a crucial market.

Prior to this change, the distribution of products in these specific categories across the US and Canada was handled by Puma United. This entity was a partnership where Puma held a 51% majority stake alongside United Legwear Company LLC. Under that structure, United Legwear and its network of suppliers were responsible for the manufacturing, transportation, and storage of all products distributed by Puma United.

The updated agreement not only simplifies Puma's operational structure but also further strengthens the robust 25-year business relationship between Puma and ULAC. This strategic realignment is part of a larger "reset phase" for 2025, which Puma announced on October 30 alongside its third-quarter financial results, indicating a broader initiative to optimize its distribution networks globally. Financial specifics regarding the new license agreement with United Legwear have not been disclosed.

As a direct result of this operational change, Puma United will be reclassified as a discontinued operation in Puma's financial reporting, with this reclassification taking effect from November 2025. Consequently, financial figures for both the current year and prior periods will undergo adjustment and be reported separately to reflect this change. In the 2024 financial year, Puma United's sales, which were consolidated within the Group, amounted to a substantial 427.9 million euros.