PUMA India Launches its First Store in the Maldives!
Enters the Maldives, a top spot for inbound tourism since the pandemic
Maldives becomes the latest addition to PUMA India’s Business in the region
New store to cater to the growing local football and futsal community
The launch comes in time with the Maldives celebrating its Golden Year of Tourism in 2022
Male [Maldives], May 31: PUMA India has launched its first store in the Republic of Maldives, bringing the sportswear brand into the popular holiday destination, which has seen a triple-digit increase in inbound tourists over the previous two years. Maldives joins PUMA India’s syndicate, which already includes 19 other nations such as Singapore, Indonesia, Malaysia, Thailand, Vietnam, and the Philippines.
The two-story PUMA store is designed to be a one-stop destination for tourists and fashion fans, as well as the burgeoning local football and futsal community in the capital of Male’s famed retail district of Majeedhee Magu. The store opens at a time when the Maldives is commemorating its golden tourism year.
Atul Bajaj, Executive Director – Sales & Operations, PUMA India, remarked on the opening of the first store in the Maldives, ” “The Maldives is gaining popularity as a travel destination, especially in the aftermath of Covid. The number of resorts has grown over time, and the tourist-friendly economy has resulted in increased demand for and consumption of international brands. We’re looking forward to growing our presence in this country.”
PUMA has teamed with Sonee Sports, a Maldives-based sports and lifestyle marketplace, to bring the brand to the island nation. The brand will increase its offline retail presence as well as investigate eCommerce, sports clubs, and other distribution channels in this new area as part of this agreement.
Tourism is the country’s mainstay, and it has managed to keep its Covid caseload low while keeping luxury resorts open to lure visitors from all over the world. According to the Ministry of Tourism, the tropical island nation of the Maldives saw a 138 percent increase in inbound tourists in 2021, the largest year-over-year growth rate in the recent decade. The Ministry predicts a 15-17 percent increase in arrivals in 2022 compared to last year. During this two-year period, India, Russia, the United Kingdom, Italy, and the United States were the leading sourcing markets for the Maldives.
Atul Bajaj went on to say, “The Maldives is also rapidly developing as a football and futsal-playing nation, demonstrating a strong commitment to sports. We have identified an experienced partner in Sonee Sports who has great expertise in pushing the sports and lifestyle sector in Male. With our selection of apparel, footwear, and accessories, we look forward to working together with sports organisations and clubs to give access to the correct sporting gear in the country and to further our commitment to the growth of sports and fitness culture.”
Ahmed Kaleem, Managing Director of Sonee Sports, stated about the agreement, “At Sonee Sports, we strive to provide our consumers with BIGGER, BETTER BRANDS on a regular basis. We are thrilled to welcome PUMA, one of the world’s most well-known and fastest-growing sports brands. We are certain that PUMA will fit like a glove in our efforts to improve the lives of athletes and fitness enthusiasts both on and off the field.”
The first store in the Maldives will cover 1800 square feet and provide customers with a unique shopping experience and elevated product showcasing. It will sell sports and lifestyle footwear, apparel, and accessories for men, women, and children.
The business is located on Majeedhee Magu, Male’s most popular shopping street, which is noted for handloom fabrics, traditional clothes, local crafts, cosmetics, and travel goods.
PUMA solidified its leadership position in India’s sports and lifestyle sector in the fiscal year ending December 2021, with a revenue of Rs 2044 crore. In 2021, the brand opened 51 new locations in India, bringing the total number of exclusive stores to 450 in the current fiscal year.