Puma is using the Las Vegas Grand Prix, held from November 21-23, as a high-profile platform to connect with the motorsport community and broaden its reach.
Kicking off the event, on Wednesday, Puma opened a 25,000-square-foot flagship store on the Las Vegas Strip. The brand has a decades-long relationship with motorsport.
“We started [to invest] in motorsport in the mid-‘80s, and have since continued,” said Tara McRae, Puma’s svp of marketing and brand strategy. “This isn’t just a moment for us — it’s a long-term commitment to one of the most exciting, culture-driving sports in the world.”
Originally, Puma focused on innovations in high-performance racewear, pioneering fireproof gear and footwear for F1 drivers. Leveraging the sport’s global appeal to bring awareness to its core apparel has been central to its strategy.
The new three-story flagship incorporates gaming technology, interactive experiences and exclusive product offerings for motorsport fans. Experiences include Formula 1 racing simulators, reaction-time challenges, product customization stations, and meet-and-greets. Drivers Charles Leclerc, Carlos Sainz and Alex Albon will make appearances, as will Puma ambassadors from other sports including basketball and soccer.
“We’ve [also] loaded a racing car into the store,” McRae said. “It’s about creating something memorable for fans, blending retail and entertainment.”
The store opening and other Grand Prix activations will be marketed through influencer partnerships and across the brand’s marketing channels.
Puma’s global partnership with Scuderia Ferrari driver Leclerc, announced in October, reflects its strategy to integrate motorsport into its broader marketing. Leclerc will collaborate on projects spanning Sportstyle, running and training.
“[Leclerc] connects with a younger consumer, which is critical for us as we think about the next generation of motorsport fans,” McRae said. “His energy and authenticity make him the ideal partner for pushing the boundaries of sports and fashion.” With over 13 million Instagram followers, Leclerc is one of Formula 1’s most popular drivers.
Also during the LVGP, on November 26, Puma will roll out a restock of its Speedcat sneaker, a low-profile suede shoe with a rubber sole. It will be available in the original red and black colorway and a new pink colorway.
Originally designed as fireproof footwear for Formula 1 drivers, the Speedcat has evolved into a popular everyday sneaker, catching fire since its relaunch in June. The shoes were featured in a November Puma campaign with Dua Lipa and Korean singer Rosé and ranked as the third hottest product in Lyst’s Q3 2024 Index — it was the only sneaker to make the top 10 list for that quarter.
“The low-profile silhouette is trending, and Puma is iconic in that look,” McRae said. “It’s all about keeping it culturally relevant—whether through materials, colors or collaborations.”
Puma is hosting several activations during the LVGP. One is the Paddock Suite, a luxurious space for VIPs and influencers featuring interactive elements like a reaction-time challenge modeled after F1 driver training. There’s also the F1 Pit Lane Experience at the Fashion Show Mall featuring panel discussions with team members, a live DJ, giveaways and a pit crew simulator experience. Finally, it will throw a collaborative party with retailer Shoe Palace later in the week.
“We’re flying in influencers from all over the world to create content and bring the excitement to a global audience,” McRae said.
According to McRae, Puma’s commitment to motorsport goes well beyond Formula 1 race weekends. It has sponsored and designed collections with teams including Scuderia Ferrari, Mercedes-AMG Petronas and Aston Martin Aramco, and backed initiatives like the F1 Academy, which supports women in motorsport. “Women’s sports are a huge initiative for us,” McRae said.
In October 2023, A$AP Rocky came on board as the brand’s Formula 1 creative director, which involved co-designing a collection of apparel and footwear. “The A$AP Rocky Puma collection did extremely well from an apparel [sales] standpoint,” said McRae. “Our apparel and fanwear that [stem from] our partnerships with our F1 teams [consistently sell] well,” said McRae. She declined to disclose specific financial figures.
“Motorsport is one of the most authentic ways for us to connect with our audience and keep building our legacy,” McRae said. “We’re not going anywhere.”
For the third quarter of 2024, Puma reported a 0.1% year-over-year decline in sales to $2.47 billion, attributing the downturn to unfavorable currency impacts, supply chain challenges and subdued consumer sentiment. In currency-adjusted terms, sales increased by 5%, reaching $2.5 billion, with growth across the Americas, Asia/Pacific and EMEA regions. Net income declined by 3% to $128 million, primarily due to currency headwinds and rising operating expenses.
Puma has sponsorships across a wide range of sports, including football, with teams like Manchester City; running, with stars like Usain Bolt; basketball, with NBA players like Deandre Ayton; and golf through Cobra Golf.
The global appetite for Formula 1 continues to grow, particularly in the U.S. According to the statement from the LVGP, approximately 300,000 attendees are expected over the race weekend, based on ticket sales and bookings for race-related programming. Based on data from ESPN, the 2023 season saw an average U.S. TV audience of 1.11 million per race, making it the country’s second-most viewed F1 season. Other brands have taken advantage of the awareness and alignment opportunities, especially in the last year. Announced last month, LVMH has entered a historic 10-year, $1 billion global partnership with Formula 1. And Hugo Boss has expanded its F1 event sponsorships and athlete partnerships.
Executive Moves
- Kering announced Cédric Charbit will become CEO of Saint Laurent and Gianfranco Gianangeli will succeed him as CEO of Balenciaga, effective January 2. This move marks Charbit’s return to Saint Laurent, where he previously served as evp of product and marketing in 2012.
- Pierre-Arnaud Grenade, credited with multiplying Ba&sh’s revenue sevenfold during his tenure, has been named president of A.P.C. by private equity firm L Catterton following its majority stake acquisition.
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