Business News | PUMA India Launches Its First Store in the Maldives

Male [Maldives], Could 31 (ANI/PNN): Sportswear model PUMA India has opened its first retailer within the Republic of Maldives, getting into the favored vacation vacation spot that has witnessed a triple-digit surge in inbound tourism over the past two years. With this, Maldives turns into the newest market to affix PUMA India’s syndicate, together with 19 different nations akin to Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines.

Situated within the capital metropolis Male’s iconic purchasing avenue of Majeedhee Magu, the two-storeyed PUMA retailer is about to be a one-stop vacation spot for vacationers and trend lovers in addition to the rising native soccer and futsal neighborhood. The shop launch additionally comes at a time when the Maldives is celebrating its golden yr of tourism.

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Commenting on the launch of the primary retailer within the Maldives, Atul Bajaj, Govt Director – Gross sales and Operations, PUMA India, mentioned, “The Maldives is arising strongly as a journey vacation spot, particularly post-Covid. The variety of resorts has swelled up through the years, and the tourist-friendly economic system has prompted good demand and consumption of worldwide manufacturers. We’re excited to broaden our presence on this nation.”

PUMA has partnered with Maldives-based sports activities & way of life market Sonee Sports activities to launch the model within the island nation. Below this partnership, the model will broaden its offline retail presence and likewise discover eCommerce, sports activities golf equipment and different distribution channels on this new market.

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Tourism is the mainstay within the nation, which managed to maintain its Covid caseload low and luxurious resorts open to draw vacationers from throughout the globe. In response to the Ministry of Tourism, the tropical island nation, the Maldives witnessed a 138 per cent improve in inbound travellers in 2021, the best year-on-year progress charge recorded by the Maldives within the final decade. The Ministry but once more estimates a 15-17 per cent soar in arrivals to this point in 2022 over final yr. In truth, India, Russia, the UK, Italy and USA have been the highest supply markets for the Maldives throughout this two-year interval.

Atul Bajaj added, “The Maldives can also be maturing quickly as a soccer and futsal enjoying nation, indicating an actual ardour for sports activities. In Sonee Sports activities, we’ve discovered an skilled companion with a robust background in driving sports activities and way of life enterprise in Male. We’re wanting ahead to carefully working with sports activities associations and golf equipment to offer entry to the best sporting gear within the nation and propel our dedication to the expansion of sports activities and health tradition with our vary of attire, footwear and equipment.”

Commenting on the partnership, Ahmed Kaleem, Managing Director, Sonee Sports activities, mentioned, “At Sonee Sports activities, we goal to constantly current our clients with BIGGER, BETTER BRANDS. We’re happy to introduce PUMA, one of many main and fastest-growing sports activities manufacturers on this planet. As our focus stays on enhancing the lives of sportsmen and health lovers on and off the sphere, we’re assured that PUMA matches like a glove.”

Unfold over 1800 sq. ft, the primary retailer within the Maldives will supply customers a novel purchasing expertise and elevated product showcase. It would promote footwear, attire and equipment for males, girls and youngsters for his or her sports activities and way of life necessities.

The shop is strategically positioned on Majeedhee Magu, the most well-liked purchasing avenue in Male, identified for handloom textiles, conventional attire, native craft, cosmetics and equipment for travellers.

Within the fiscal yr ending December 2021, PUMA cemented its management place in India’s sports activities and way of life market, incomes a income of Rs 2044 crore. The model added 51 shops in 2021 and has a complete of 450 unique shops in India to this point within the present fiscal.

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