Can Hollywood raise Pumas U.S. growl?
Shoe company Puma, currently in control of less than 1% of the U.S. athletic footwear market, may be able to capitalize on newfound Hollywood connections to boost domestic sales. Independent film producer Arnon Milchan’s holding company, Monarch/Regency Enterprises, has invested $80 million into Puma, accounting for 12.5%, with an option for another 12.5%. The investment may mean more high-profile athlete endorsements for Puma’s line of athletic shoes, which garner annual worldwide sales of $800 million. LOS ANGELES — With Hollywood’s biggest independent film producer providing fresh cash and important connections, Puma may be in line for some high-profile sports and entertainment endorsers. Film producer Arnon Milchan recently injected $80 million into the…
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- Can Hollywood raise Pumas U.S. growl?