German sports goods maker Puma is aiming to compete on equal terms with sector leaders Adidas and Nike, particularly in the United States, company chief executive Arne Freundt has said in remarks pre-released on Saturday.
"We are the number three globally, and the gap to the larger two is shrinking," Freundt told the Sunday edition of Germany's Welt newspaper.
"We had a difficult year in the US, and are currently number eight, but that cannot and will not remain the case. The US is not only an extremely important market; American athletes and artists influence people around the world," Freundt said.
Puma has opened a design and development centre in Hollywood to focus on the US market.
Freundt expressed dissatisfaction with Puma's share price, which fell 40% between mid-2023 and early 2024, but has recently recovered. He attributed this to the fact that his name is not well known among investors.
"Confidence in a CEO has to be built up over a lengthy period, but I'm sure we have the right strategy," he said.
Freundt took over from Bjørn Gulden, who moved to Adidas last year. The two companies both operate from Herzogenaurach in Nuremberg in the German state of Bavaria.