Puma AG Rudolf Dassler Sport, officially branded as PUMA, is a major German multinational

company that produces high-end athletic shoes, lifestyle footwear and other sportswear. Formed in 1924
as Gebrüder Dassler Schuhfabrik by Adolf and Rudolf Dassler, relationships between the two brothers
deteriorated until the two agreed to split in 1948, forming two separate entities, Adidas and Puma. Puma
is currently based in Herzogenaurach, Germany.

The company is known for its football shoes and has sponsored acclaimed footballers,
including Pelé, Eusébio, Johan Cruijff, Enzo Francescoli, Diego Maradona, Lothar Matthäus, Kenny
Dalglish, Didier Deschamps and Gianluigi Buffon. Puma is also the sponsor of theJamaican track
athlete Usain Bolt. In the United States, the company is probably best known for the suede
basketball shoe it introduced in 1968, which eventually bore the name of New York Knicks basketball
star Walt "Clyde" Frazier, and for its endorsement partnership with Joe Namath.

Following the split from his brother, Rudolf Dassler originally registered the new-established company
as Ruda, but later changed toPuma. Puma's earliest logo consisted of a square and beast jumping
through a D, which was registered, along with the company's name, in 1948. Puma's shoe designs
feature the distinctive "Formstripe",with clothing and other products having the logo printed on them.

The company also offers lines shoes and sports clothing, designed by Lamine Kouyate, Amy Garbers and
others. Since 1996 Puma has intensified its activities in the United States. Puma owns 25% of American
brand sports clothing maker Logo Athletic, which is licensed by American professional basketball and
association football leagues. Since 2007 Puma AG has been part of the French luxury group PPR.
Type Aktiengesellschaft (FWB:PUM)

Industry Clothing and consumer goodsmanufacture

Founded 1924 as Gebrüder Dassler Schuhfabrik

(registered in 1948)[1]

Founder(s) Rudolf Dassler

Headquarters Herzogenaurach, Germany

Area served Worldwide

Key people Jochen Zeitz (CEO and Chairman of the management

board)

Melody Harris-Jensbach(deputy CEO)

Klaus Bauer (COO)

François-Henri Pinault(Chairman of the supervisory

board)

Products Footwear, sportswear, sports goods, fashion

accessories

Revenue €2.706 billion (2010)[2]

Operating income €306.8 million (2010)[2]

 Profit €202.2 million (2010)[2]

Total assets €2.367 billion (end 2010)[2]

Total equity €1.386 billion (end 2010)[2]

Employees 9,650 (end 2009)[3]

Parent PPR

Website www.puma.com

History
Background
Christoph von Wilhelm Dassler was a worker in a shoe factory, while his wife Pauline ran a small laundry
in the Bavarian town ofHerzogenaurach, 20 km (12.4 mi) from the city of Nuremberg. Their son Rudolf
Dassler, after leaving school, joined his father at the shoe factory, and was then called up to fight in World
War I. Upon his return, Rudolf received a management position at a porcelain factory, and later in a
leather wholesale business inNuremberg.

After tiring of working for others and away from home, Rudolf returned to Herzogenaurach in 1924 to join
his younger brother Adolf, nicknamed "Adi", who had founded his own shoe factory. They named the new
business Gebrüder Dassler Schuhfabrik (Dassler Brothers Shoe Factory). The pair started their venture
in their mother's laundry, but at the time, electricity supplies in the town were unreliable, and the brothers
sometimes had to use pedal power from a stationary bicycle to run their equipment.

By the 1936 Summer Olympics, Adi Dassler drove from Bavaria on one of the world's first motorways to
the Olympic village with a suitcase full of spikes and persuaded United States sprinter Jesse Owens to
use them, the first sponsorship for an African American. After Owens won four gold medals, his success
cemented the good reputation of Dassler shoes among the world's most famous sportsmen. Letters from
around the world landed on the brothers' desks, and the trainers of other national teams were all
interested in their shoes. Business boomed and the Dasslers were selling 200,000 pairs of shoes
annually before World War II.

Company split and creation of PUMA

Both brothers joined the Nazi Party, but Rudolf was slightly closer to the party. During the war, a growing
rift between the pair reached a breaking point after an Allied bomb attack in 1943 when Adi and his wife
climbed into a bomb shelter that Rudolf and his family were already in. "Here are the bloody bastards
again," Adi said, apparently referring to the Allied war planes, but Rudolf was convinced his brother meant
him and his family.[4]:18 After Rudolf was later picked up by American soldiers and accused of being a
member of the Waffen SS, he was convinced that his brother had turned him in.[5]

In 1948, the brothers split their business. Rudolf left the high hill for the other side of the Aurach River to
start his own company. It was from this split that Adolf started his own sportswear company with the name
he formed using his nickname "Adi" and the first three letters of his last name "Das", to establish Adidas.
Rudolf created a new firm that he calledRuda – from "Ru" in Rudolf and "Da" in Dassler. Rudolf's
company would later change its name to Puma Schuhfabrik Rudolf Dassler in 1948.[7]

The brothers' earlier split led to a divided town. From 1948, the town was similar to a mini-Berlin. Brand
loyalty became supreme for residents; several stores, bakeries and bars were unofficially known as either
loyal to Rudolf's Puma, or to Adolf's Adidas. Even the town's two football clubs were also divided: ASV
Herzogenaurach club supported the three stripes, while 1 FC Herzogenaurach endorsed Rudolf's
footwear. When handymen were called to Rudolf's home, they would wear Adidas shoes deliberately so
that when Rudolf would see their footwear, he would tell them to go to the basement and pick out a pair of
free Puma shoes. The two brothers never reconciled, and although both are buried in the same cemetery,
they are spaced apart as far as possible.

A pair of Puma sport-lifestyle shoes with the company's distinctive "Formstripe" design

Early years and rivalry with Adidas

Following the split, Puma and Adidas initiated a fierce and bitter rivalry with each other. The enmity
split Herzogenaurach into two, leading to the nickname "the town of bent necks" – people looked down to
see which shoes strangers wore.

In 1948, the first football match after World War II, several members of the West German national football
team wear Puma boots, including the scorer of West Germany's first post-war goal, Herbert Burdenski.
Four years later, at the 1952 Summer Olympics, 1500 metres runner Josy Barthel of Luxembourg won
Puma's first Olympic gold in Helsinki, Finland.

At the 1960 Summer Olympics Puma paid German sprinter Armin Hary to wear Pumas in the 100 metres
sprint final. Hary had worn Adidas before and asked Adolf for payment, but Adidas rejected this request.
The German won gold in Pumas, but then laced up Adidas for the medals ceremony – to the shock of the
two Dassler brothers. Hary hoped to cash in from both with the trick, but Adi was so enraged he banned
the Olympic champion.

The Pelé pact and subsequent affairs

A few months prior to the 1970 FIFA World Cup, Armin Dassler and his cousin, Horst Dassler, sealed an
agreement which was dubbed "The Pelé pact". This agreement dictated thatPelé, a Brazilian attacking
midfielder, would be out of bounds for both Adidas and Puma. However, Armin found the potential
financial and marketing advantage of sponsoring the superstar irresistible. Pelé complied with a request
by Puma's representative Hans Henningsen to increase the awareness and profile of the German sports
shoe company after he received $120,000 to wear the Formstripes.[6] At the opening whistle of a 1970
World Cup finals match, Pelé stopped the referee with a last-second request to tie his shoelaces before
kneeling down to give millions of television viewers a close-up of his Pumas.[4]:82 This greatly outraged
Horst Dassler and future peace agreements were called off.

Two years later, during the 1972 Summer Olympics, Puma provided running shoes for the Uganda 400
metres hurdles champion, John Akii-Bua. After Akii-Bua was forced out of Uganda by its military
government, Puma employed Ake Bua in Germany, and tried to help integrate him and his family in
German society, but eventually Akii-Bua returned to Uganda.

In May 1989, Rudolf's sons Armin and Gerd Dassler agreed to sell their 72 percent stake in Puma,
to Swiss business Cosa Liebermann SA.[10]

Puma became a public company in 1986, and thereafter was listed on the Börse München and Frankfurt
Stock Exchange.

Present Day
Puma AG has approximately 9,204 employees and distributes its products in more than 80 countries.
[when?]
For the fiscal year 2003, the company had a revenue of €1.274 billion. Puma were the commercial
sponsors for the 2002 anime series Hungry Heart: Wild Striker, with the jerseys and clothing sporting the
Puma brand.
The company has been conducted by CEO and Chairman Jochen Zeitz since 1993. His contract has
been extended ahead of schedule for four more years until 2012 in October 2007.[11]

Japanese fashion guru Mihara Yasuhiro teamed up with Puma to create a high-end and high-concept line
of sneakers

Puma is the main producer of enthusiast driving shoes and race suits. They are the prime producer in
both Formula One and NASCARespecially. They had also successfully won the rights to sponsor
the 2006 FIFA World Cup champions, the Italian national football team, with them making and sponsoring
the clothing worn by the team. Their partnership with Ferrari and BMW to make Puma-Ferrari and Puma-
BMW shoes has also contributed to this success. On 15 March 2007, Puma launched its first new
2007/2008 line of uniforms for a club, andBrazilian football club Grêmio will be the first to use the laser
sewn technology, similar to the one worn by Italy at the 2006 World Cup. Grêmio and other Brazilian
clubs will be the first to use the technology because their season starts six months earlier than European
clubs. Puma also makes baseball cleats, and Johnny Damon, the outfielder for the Detroit Tigers, is their
spokesperson. He has his own cleat called the "DFR Metals".

The legendary KING

In 2008, Puma celebrated the 40th anniversary of the KING with a special anniversary edition,
[13]
the KING XL (XL is 40 in Roman Numerals), a tribute to Portuguese footballer Eusébio, who shot 42
goals with the legendary KING in 1968, winning the Golden Boot Award as Europe's leading scorer. The
KING also was the favourite shoe of players like Pelé, Mario Kempes, Rudi Völler, Lothar
Matthäus, Massimo Oddo and Diego Maradona. Puma have continued to release new versions of the
King range, and released a version in 2009 to celebrate the history of Italian soccer, and in particular
double World Cup winning coach Vittorio Pozzo, the Puma King XL Italia.

In 2010, the Puma King again heralded a football legend. This time Diego Maradona was paid tribute. To
celebrate the Argentine's 50th birthday, Puma released the Puma King Diego Finale football boot. This
edition was created in the colours of the La Albiceleste of the Argentina National football team.

Takeover by PPR
In February 2007, Puma reported that its profits had fallen by 26% to €32.8 million ($43 million; £22
million) during the final three months of 2006. Most of the profit decline was due to higher costs linked to
its expansion, and sales actually rose by more than a third to €480.6 million.

In early April 2007, Puma's shares rose €29.25 per share, or about 10.2% higher, at €315.24 per share.
[16]
On 10 April 2007, French retailer and owner of Gucci brand Pinault-Printemps-Redoute (PPR)
announced that it had bought a 27% stake in Puma, clearing the way for a full takeover. The deal values
Puma at €5.3 billion. PPR said that it would launch a "friendly" takeover for Puma, worth €330 a share,
once the acquisition of the smaller stake was completed. The board of Puma welcomed the move, saying
it was fair and in the firm's best interests. On 17 July 2007 PPR have 62.1 % of Puma stocks.

While PPR owns the majority of Puma's stock, Puma remains an independent company.

Controversy
Organizations promoting fair trade and worker's rights criticize Puma's employment practices in
their developing world factories, predominantly relating to workers in China, Turkey, El Salvador, and
Indonesia.[18][19][20]

Timeline

 1920: Rudolf Dassler and his brother Adolf start making sports shoes.
 1924: Foundation of Gebrüder Dassler Schuhfabrik, Herzogenaurach, Germany.
 1948: Foundation of Puma Schuhfabrik Rudolf Dassler (1 October), Introduction of the ATOM,
Puma's first football shoe.
  1949: Rudolf Dassler has the idea of football shoes with removable studs. He begins working on
their development and production.

Many football experts, like Sepp Herberger, are involved.

 1952: Introduction of the SUPER ATOM.

 1953: Development of ATOM's successor: the BRASIL.
 1958: Introduction of Puma's signature "Formstripe" at the FIFA World Cup in Sweden.
 1959: The company is transformed into a limited partnership named Puma-Sportschuhfabriken
Rudolf Dassler KG.
 1960: Introduction of the technologically advanced vulcanization production technique.
 1966: Launch of the WEMBLEY, the predecessor model to the Puma King.
 1968: Launch of the legendary KING. Puma is the first manufacturer to offer sports shoes
with Velcro fasteners.
 1974: Rudolf Dassler dies. His sons Armin and Gerd take over the company's management.
 1976: Introduction of the revolutionary S.P.A.-Technology.
 1986: Transformation into a stock corporation.
 1989: Launch of the TRINOMIC sport shoe system.
 1990: Introduction of INSPECTOR, a growth control system for children's shoes.
 1991: Launch of the DISC SYSTEM sports shoe.
 1992: Capital increase by DM 20 million, share capital reaches DM 70 million.
 1993: Jochen Zeitz is appointed Chairman and CEO, Proventus/Aritmos B.V. becomes majority
shareholder.
 1994: The first profit since the company's IPO in 1986 is regeristered.
 1996: Puma is listed in the German M-DAX index; introduction of the CELL technology, the first
foam-free midsole.
 1997: Launch of the CELLERATOR.
 1998: Puma merges sports and fashion. The company starts a cooperation with designer Jil
Sander.
 1999: Puma becomes an official on-field supplier of the U.S. National Football League (NFL).
 2000: Production of fireproof footwear in partnership with Porsche and Sparco.
 2001: Acquisition of the Scandinavian Tretorn Group.
 2002: Launch of the SHUDOH.
  2003: Majority shareholder Monarchy/Regency sells its shareholdings to a broad base of
institutional investors.
 2004: Collaborative partnership with world-renowned designer Philippe Starck.
 2005: Mayfair Vermögensverwaltungsgesellschaft mbh acquires a total of 16.91% shareholding.
 2006: The company is listed in the Dow Jones Sustainability Index; Introduction of the S.A.F.E.
concept, a specific tool developed to continuously improve social and environmental standards. Shoe
collection in cooperation with Alexander McQueen. Italy would go on to win the world cup as they are
sponsored by puma many of the teams soccer( football) players wearing puma cleats.
 2007: Voluntary public take-over by Pinault-Printemps Redoute; Prolongation of the contract with
Jochen Zeitz by five years.
 2008: Melody Harris-Jensbach is appointed Deputy CEO; Designer and artist Hussein
Chalayan becomes Creative Director, Puma also acquires a majority stake in Chalayan's business
and Hussein Chalayan.
 2010: Signs two year deals to make the kits of Newcastle
United, Motherwell, Hibernian, Burnley & Preston from the 2010–11 season.

Sponsorship
Puma is a sponsor of sporting events and identities, domestically and internationally. From its origins in
football, the company sponsors numerous footballers and national football teams; the "Formstripe"
especially has a heavy presence in Africa. Puma is also the sponsor of a number of Premier
League teams, most notably Newcastle United and Tottenham Hotspur(both until the end of 2010/11
season).

In Australian rules football, Puma has longstanding marketing relationships with the Hawthorn Football
Club and West Coast Eagles, along with the Brisbane Lions. With Hawthorn especially, Puma has been
the club's apparel sponsor since the 1980s, during the club's most successful era.

Puma is the sponsor the Formula One racing team Red Bull Racing. The team is seen here at the 2010 Canadian Grand
Prix

]Acquisitions

On March 10, 2010 Puma announced it will acquire 100 percent of Cobra Golf, based in Carlsbad,
California, from Fortune Brands Inc., but did not provide any financial details. The deal which faces
regulatory approval is expected to close in the second quarter.

PUMA at a Glance
PUMA is one of the world’s leading sportlifestyle companies that designs and develops footwear, apparel and
accessories. It is committed to working in ways that contribute to the world by supporting Creativity, Sustainability
and Peace, and by staying true to the principles of being Fair, Honest, Positive and Creative in decisions made and
actions taken.

PUMA starts in Sport and ends in Fashion. Its Sport Performance and Lifestyle labels include categories such as
Football, Running, Motorsports, Golf and Sailing. Sport Fashion features collaborations with renowned designer
labels such as Alexander McQueen, Mihara Yasuhiro and Sergio Rossi.

The PUMA Group owns the brands PUMA, Cobra Golf and Tretorn. The company, which was founded in 1948,
distributes its products in more than 120 countries, employs more than 9,500 people worldwide and has
headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong.

Registered Office:
Herzogenaurach, Germany
Official Company Language:
English
Stock:
The PUMA share is listed for official trading on the Frankfurt and Munich stock exchanges. It is
trading in the Prime Standard Segment and the Mid-Cap Index MDAX of the German Stock
Exchange (Deutsche Börse).
Shareholders (as of 12/31/2010):
71.58 % PPR Group (Main Shareholder)
28.42 % of the PUMA shares are free flowed.
Chairman of the Board and CEO:
Jochen Zeitz
Board of Management:
Jochen Zeitz (Chairman and CEO)
Melody Harris-Jensbach (Deputy CEO)
Klaus Bauer (Chief Operating Officer)
Stefano Caroti (Chief Commercial Officer)
Deputy Members of the Board of Management:
Antonio Bertone (Chief Marketing Officer)
Reiner Seiz (Chief Supply Chain Officer)
Supervisory Board:
PUMA's Supervisory Board consists of six members, four of whom represent the interests of the firm's stockholders
while the remaining two serve as employee representatives.
François-Henri Pinault (Chairman)
Paris, France
Chairman and CEO of PPR S.A.
Thore Ohlsson (Deputy Chairman)
Falsterbo, Sweden
President of Elimexo AB, Falsterbo/Sweden
Jean-François Palus
Paris, France
Deputy Chief Executive Officer - Chief Financial Officer of PPR S.A.
Grégoire Amigues
Paris, France
Global Strategic Head of PPR S.A.
Oliver Burkhardt (Employees' Representative)
Möhrendorf, Germany
PUMA AG
Erwin Hildel (Employees' Representative)
Herzogenaurach, Germany
PUMA AG
Consolidated Sales:
PUMA’s consolidated sales for the financial year 2010 were € 2,706.4 million.
Sales by Segments:
The sales breakdown for the financial year 2010 by segment was as follows:
Consolidated Sales in % of Consolidated Sales
Footwear: € 1,424.8 million 52.6 %
Apparel: € 941.3 million 34.8 %
Accessories: € 340.3 million 12.6 %
€ 2,706.4 million 100 %
Financial Reporting:
PUMA abides by the International Financial Reporting Standards "IFRS", and reports its earnings on a quarterly
basis.

Sustainability
We are committed to working in ways that contribute to the world by supporting creativity, sustainability and peace
and by staying true to the values of being Fair, Honest, Positive and Creative in decisions made and actions taken.

The foundation for our activities is PUMAVision – a concept that we intend to guide our work with its three core
programs puma.creative, puma.safe and puma.peace.
puma.safe comprises our initiatives and commitment for environmental protection and improved working conditions
that have been in place for many years now. They will be complemented by new programs, which focus on
implementing cleaner, safer and more sustainable systems and processes within the supply chain.
puma.peace supports the global Day of Ceasefire on September 21 every year through its initiative “One Day One
Goal”, which aims at getting people to play football with the idea that the power of sports will unite people in peace.
The initiatives of puma.creative – creativity as the core competence of the brand - aim at bringing together artists
and different organizations for a mutual creative exchange and offering them an international platform.

Strategy
• Corporate strategy
• Brand strategy

PUMA’s Corporate Strategy

With the objective of being "The Most Desirable and Sustainable Sportlifestyle Company”, PUMA's position as one
of the few, true multi-category brands is to be strengthened and the opportunities offered by the sportlifestyle
market are to be systematically exploited in all categories and regions. As a multicategory supplier, PUMA is active
in categories and business fields/divisions that suit its unique brand positioning, and in which permanent value
increases can be achieved for the company. PUMA is positioned as a sportlifestyle brand that takes pleasure in
skillfully combining sports and lifestyle influences and which strives to contribute to a better world.

The above-mentioned brand positioning is to be supported by selectively expanding the existing product categories,
by regional expansion, and by expansion with non-PUMA brands.

Our Brand Strategy

In 2009, we continued to strengthen our Sportlifestyle brand through unique events and marketing campaigns –
from PUMA City in Boston during the Volvo Ocean Race North American stopover to Usain Bolt’s ‘Who Faster?’
campaign in Berlin during the World Championships.

In 2009, we also refined our brand manual. “10” is the very first brand manual to incorporate the four keys to
success of the global PUMAVision – fair, honest, positive and creative. Our brand mission – to be the most
desirable Sportlifestyle brand in the world – has not changed at all.

We have brought back the spirit of the DJ in our new Brand Promise to joyfully mix the influences of Sport and
Lifestyle with the desire to contribute to a better world. “Joy” is what we will try to bring to our consumers and is
what will differentiate us from our competition – it’s our point-of-view. While others talk about blood, sweat and tears
ofsport, we recognize that they cannot be the only rewards. Rather, we’ll talk about the moments of joy inherent in
both sport and life.

We are the brand that remembers what it was like to play the game – and to play it with joy.

It’s what we’ve always done best and now the time is right to bring the joy back again.So when we think about
product, about marketing, retail or anything in our business,the first question we must ask is: Where is the Joy? It
could be the feeling of running fast on a track, or getting social with your friends playing ping pong at a bar. Joy is
being the best while having fun doing it.

With our fine tuned position of ‘joy’ and our refined brand manual, “10,” we look forward to becoming a stronger,
more confident brand and continuing our tradition of fun-infused product and campaigns.

Brands
The PUMA Group owns the brands PUMA, Cobra Golf and Tretorn.
PUMA

PUMA starts in Sport and ends in the Fashion. Its Sport Performance and Lifestyle labels include categories such
as Football, Running, Motorsports, Golf, and Sailing. The Black label features collaborations with renowned
designer labels such as Alexander McQueen, Yasuhiro Mihara and Sergio Rossi.

http://puma.com/

Cobra Golf

Cobra Golf is a leading golf equipment manufacturer, committed to providing superior-quality, high performance
products for avid golfers of all abilities. Cobra golf clubs offer golfers a competitive performance advantage and
functionality through innovative design, such as 9 Point Face Technology, Adjustable Flight Technology and Baffler
Rail Technology. Cobra Golf is a major brand of COBRA-PUMA GOLF, a corporate division of PUMA North
America.

http://www.cobragolf.com/

Tretorn

Tretorn is casually refined and stylishly understated. Established by Henry Dunker in Helsingborg, Sweden at the
end of the 19th century, Tretorn takes inspiration from its Scandinavian roots and carries this vitality of spirit
throughout its collection of leisure shoes, rubber boots and tennis balls. Tretorn’s expertise in rubber-made
products demonstrates a consistent commitment to quality and brand over hype, offering a collection most
appreciated by those with a practical sensibility and a lifestyle largely enjoyed outside.

http://tretorn.com/

Board
Rules of Procedure for the Board of Management:
2009.11.05 GO VS EN
Board of Management
Jochen Zeitz
Chairman of the Board and Chief Executive Officer PUMA AG
Melody Harris-Jensbach
Deputy CEO PUMA AG
Klaus Bauer
Chief Operating Officer PUMA AG
Stefano Caroti
Chief Commercial Officer PUMA AG
Antonio Bertone
Chief Marketing Officer PUMA AG
Reiner Seiz
Chief Supply Chain Officer PUMA AG