annual report puma

7/22/2019 Annual Report PUMA

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2/223

Business and

sustainaBility RepoRt


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Content

1 To our Shareholers 6Forewor 7The PUMA Share 9

2 PUMAVisio 12PUMAVisio 13

Stakeholer Egagemet 15

People@PUMA 18

3 PUMA.Safe 36PUMA.Safe Ecology 37

Improvig PUMAs Eviromet al Footprit 37

The PUMA Prouct Evirometal Profit a Loss Accout 39More Sustaiable Prouct s 41

S-IndEx 44

Evirometal Maagemet of PUMA Operatios

a our Supplier Factories 46

PUMA.Safe Humaity 58For Better Social a Workig Staars

i our Supplier Factories 58

Our Costat Worry Camboia 60

Impellig Freeom of Associatio 60

Better Wages i the Supply Chai 61

Factory Auit Results 63

Brigig our Social Compliace a Performace Staars

up to Spee 69

Traiig our Suppliers i Social Issues 70

4 PUMA.Peace 72

For a More Peaceful Worl 73Uite natios Youth Camp 73

films4peace 74

Oe Youg Worl 75


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Content

5 PUMA.Creative 77Creative Art network 78

PUMA.Creative Film Program 79

The PUMA.Creative Impact Awar 82

HOME OCEAnS 84

Iepeet Assurace Report 85

6 Bra 88Bra Strategy 89

Teamsport 90

Ruig 93

Motorsport 95

Golf 97

Sailig 99Fitess 101

Lifestyle 103

7 Maagemet Report 106

2012 Overview 107

Geeral Ecoomic Situatio 109

Strategy 110

Busiess developmet 112

Value Maagemet 126

Prouct developmet a desig 128

Procuremet 129

Employees 131

Compesatio Report o the Maagig directors

a the Amiistrative Boar 133

Risk a Opportuity Maagemet 135

disclosures Pursuat to Sectio 315(4) of the GermaCommercial Coe (HGB) 140

Supplemetal Report a Outlook 141


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Conn

Corporate Goverace Report / Statemet o

Corporate Goverace Pursuat to Sectio 289a

of the Germa Commercial Coe (HGB) 143

8 Cosoliate Fiacial Statemets 148

Cosoliate Statemet of Fiacial Positio 149

Cosoliate Icome Statemet 150

Cosoliate Statemet of Comprehesive Icome 151

Cosoliate Statemet of Cash Flow 152

Cosoliate Statemet of Chages i Equity 153

Chages i Fixe Assets 154

notes to the Cosoliate Fiacial Statemets 155

Statutory Auitors Report 189

9 Maagig directors a Amiistrative Boar ofPUMA SE/ Report of the Amiistrative Boar 191

10 GRI Iex 201

11 Further Iformatio 217

Get the app here


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OUR MISSION IS TO BECOME

the most desirable

and

sustainable

SpORTlIfESTylE COMpaNyIN ThE wORld.

- Franz Koch


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TO OUR ShaREhOldERS

Foreord 7

The PUMA Share 9 1ChapTER


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p :7 | C : 1 To our ShareholderS

PuMa BuSineSS and SuSTainaBiliTy rePorT 2012

fOREwORdLETTER FROM YOUR CEO,FRANZ KOCH

DEAR SHAREHOLDERS AND FRiENDS OF PUMA,2012 was an exceptional year or PUMA in many ways. First o all, I am happy to see that we

fnished the year with a satisactor y sales growth r ate. PUMAs ull year consolidated sales

rose by almost 9 percent in Euro terms which enabled us to achieve the record sales mark

just short o 3.3 billion Euros. In the light o the continuously challenging business environ-

ment, especially in Europe, we are pleased with that sales perormance. So lets delve into

some o the highlights rom an eventul sports year that uelled PUMAs sales growth.

USAiN BOLT - THE BiggEST STORY OF THE gAMESThe success o our Running category was highlighted by the Olympic Games: The outstand-

ing athletic perormances o The Fastest Man on Earth, Usain Bolt, who fnished his sec-

ond successive Olympics with three gold medals, was undoubtedly the biggest story o

the Games. In the World o Football we once again underlined our ambition to be the clear

Number 3 brand. PUMA partnered Squadra Azzurra rom Italy had an excellent tourna-

ment at the 2012 Euro Cup reaching the fnal.

Our successul season in Formula 1 was crowned by PUMA sponsored Ferrari driver

Fernando Alonso. With 278 points in the drivers standings the Spaniard belonged to the

dominating F1 drivers again alling just short o his third Formula One title. Our Gol cat-

egory contained many highlights throughout 2012, making the past year a great success or

COBRA PUMA GOLF. Ian Poulter was the undisputed player o the prestigious Ryder Cup,

and our iconic brand ambassador Rickie Fowler won his frst PGA Tour title in May at theWells Fargo Championship, cementing him as one o the top players o the world.

In our Sailing category, our PUMA Ocean Racing team orged an amazing comeback at the

around-the-world Volvo Ocean Race 2011-12, fnishing in the third place at the beginning o

July. In our Liestyle business, we did not only successully introduce the evolution o our

PUMA Social Campaign TEAMMATES, but also continued to use the inuences o Sport

and Fashion with some o the worlds leading design houses such as Alexander McQueen

and Mihara. We will continue to rejuvenate our Liestyle category throughout 2013, c

necting with a more youthul audience and shiting the ocus rom brand- to more produ

oriented marketing campaigns.

In the area o sustainability we continue on our pioneering path. A ter a sneak peek into o

frst collection o biodegradable and recyclable products last October, our PUMA InCy

collection hit the stores at the beginning o this year. All these product and marketing i

tiatives are aimed at increasing PUMAs brand desirability to make urther strides on o

mission to become the most desirable and sustainable Sportliest yle company in the wo

PUMAS TRANSFORMATiON AND COSTREDUCTiON PROgRAM iS ALREADY DELivERiNg RESULTS2012 was also an exceptionally busy year as we continued with the implementation o o

Transormation and Cost Reduction Program. I am pleased to see that the program

already delivering its frst results. The program entails the set up o a new business mod

in Europe. To reduce complexity and urther harmonize structures, we have lowered t

number o reporting entities rom 23 countries to seven areas. The newly created Sup

Chain Management unction is ully up and running and has created new tools to mana

supply and demand more efciently on a regional level, delivering immediate results.

ANNUAL BOTTOM LiNE UNDER PRESSURE

While our sales perormance in 2012 met our expectations, our annual bottom line resuhowever, took a major hit. PUMAs lower proftability resulted mainly rom increas

pressure on our margins ater we had to reduce inventory levels through discounting

our products in the second hal o the year particularly. Furthermore, costs rose as w

continued to make strategic investments into the growth drivers o our business such

Research, Design and Development, Marketing, our supply chain and IT systems as w

as the expansion o our retail operations. In addition, the scope o the one-time expens


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FRANZ KOCH



Franz Koch

cief Exeutive offief PUMa SE

that we had envisaged in the third quarter o last year increased due to the arbitral award

in December related to our trademark rights in Spain, the restructuring o our distribution

set-up and operations in Greece, Cyprus and Bulgaria as well as the extended streamlining

o our endorsement portolio.

In October last year, we decided to complement our Transormation with a short-term cost

reduction program to shape a robust platorm or sustainable, proftable growth. This pro-

gram is necessary to realign our cost structure with market realities. It will make us more

competitive and powerul or the uture and will enable us to return to proftable growth.

One o the key elements o this program is the closure o unproftable stores mainly in

mature markets while we continue to selectively open new proftable stores, primarily in

emerging markets. By the end o this year, we expect to operate 540 stores compared with

590 stores at the end o 2012.

To reduce costs urther, we have also assessed our sponsorship portolio and we decided

to terminate endorsement contracts that are no longer part o PUMAs core categories or

strategic growth plans. Within this context, we have decided to ocus our activities in the

Sailing category on endorsing the Americas Cup and ORACLE TEAM USA or this year.

Beyond 2013, PUMA will cease the production o sailing products. We have also decided to

exit all Rugby activities across Europe.

SHARPENiNg PUMAS BRAND PROFiLE

While we will stay true to our Sportliestyle positioning as abrand, we want to strengthen each o our divisions through

more distinct approaches in terms o product, merchandis-

ing, marketing and distribution. Through the establishment

o our Nature o Perormance platorm spanning across

all our Perormance categories as well as the evolution o

PUMA Social in Liestyle, we are establishing sharper, con-

sumer ocused value propositions, which will make us more relevant and competitive

each segment.

It will take some time or all o these measures to bear ruit but we are on the right pa

We have every reason to believe in the huge potential o the PUMA brand, as we have ta

en decisive actions to overcome the challenging market issues we are currently aci

Fuelled by the repositioning o our brand and a revamped innovation pipeline, and s

ported by our brand ambassador s such as Marco Reus, Rickie Fowler and Proessor Gre

I am very confdent that we will gradually increase brand heat and re-connect with o

youthul target consumers.

MY HEARTFELT THANKS gOES TO MY TEAMI have to say that the close to two years as PUMAs CEO were as exciting as they we

challenging. Despite the act that we had a tough year in 2012, especially in Europe, wh

orced us to react immediately by implementing a major restructuring program, I am pro

o what we as a team have achieved during my tenure. So I would really like to express m

heartelt thanks to my team, my brilliant colleagues here at PUMA and to everyone, w

provided me with constant support throughout these last two years. Together we have la

the oundation, so that PUMAs management can continue with the implementation o t

Transormation Program to exploit the ull potential o the brand in the long run.

Beore leaving the company at the end o March 2013, I would like to thank you, our sha

holders, or your continued support and belie in the PUMA brand. It was a pleasure aan honor to be at the helm o this amazing company and I do hope that our paths will cro

again in the uture.

YOURS ChECk OUT ThE vIdEO


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300

200

150

100

50

250

0

Jn feb Mr ar My June Juy aug Se Oct No dec

PUMA Trading Volume

PUMA SHARE PERFORMANCE / TRADiNg vOLUME

ThE pUMa ShaRE

Despite being bueted by stark headlinesthroughout 2012, worldwide equity mar-

kets were or the most part able to deliver

excellent annual perormances. Whereas

the Dow Jones fnished the year up around

our percent, German equity indices record-

ed substantial gains throughout 2012. The

main reasons or these ascents included

the agreement between economists and

politicians that the Euro was to be saved

at almost any price and also the continuing

historic lows o interest rates. The two most

important German indices rose markedly

in 2012. The DAX fnished the year at 7,612

points, an increase o 29.1 % versus the pre-

vious year, and the MDAX closed up 34.7 % at

11,914 points.

t. 1f.1


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2012 2011 2010 2009* 2008

En o yer rice 224.85 225.00 248.00 231.84 140.30

higest rice iste 274.00 252.85 263.75 240.74 273.26

loest rice iste 210.10 197.30 201.50 103.04 112.78

diy tring oume () mount 24,739 39,973 32,045 38,996 57,310

Ernings er sre 4.69 15.36 13.45 5.28 15.15Gross cso er sre 21.89 25.47 23.84 18.47 25.46

free cso (beore cquisitions) er sre 5.58 4.07 8.35 16.52 7.21

Sreoers equity er sre 106.73 107.14 92.24 75.14 78.05

diien er sre 0.50 2.00 1.80 1.80 2.75

* Adjusted comparable fgures according to IAS 8, see chapter 3 in thenotes to the consolidated fnancial statements as o December 31, 20

KEY DATA PER SHARE



The PUMA share, listed in the MDAX, stayed

constant compared to the prev ious year. The

price o PUMA shares moved between a low

o 210.10 on the 23rd o July 2012, and a

high o 274.00 on the 3rd o April 2012.

The average daily volume o shares traded

was equal to 24,738, compared with 39,973

shares per day in the previous year. At theend o the year, PUMAs share price was

almost unchanged at 224.85 when com-

pared to 225.00 at the end o 2011. PUMAs

market capitalization thereore remained

constant at 3.4 billion.

SHARE DEvELOPMENT REBASED

The PUMA share has been registered or the

regulated market (ormerly ofcial trading)

on German stock exchanges since 1986. Itis listed in the Prime Standard Segment

and the Mid-Cap Index MDAX o the German

Stock Exchange [Deutsche Brse]. Moreo-

ver, membership in the Dow Jones World /

STOXX Sustainability indices and the FTSE-

4Good index was once again confrmed.

PUMA

MDAX

Jn feb Mr ar My June Juy aug Se Oct No dec

120

80

60

100

40

140

t. 1f.2

t. 1T.1


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PUMAVision

ThE pROpER USE

of science is not

to conquer natureBUT TO lIvE IN IT.- Barry Commoner


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pUMavision

PUMAvson 13

Stakeholder Enaement 15

People@PUMA 18 2ChapTER


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PUMA BUsiness And sUstAinABility RePoRt 2012

PUMAVision

SUSTAiNABiLiTY AT PUMAAs a leading Sportliestyle company we

have the opportunity, and the responsibility,

to contribute to a better world, now and or

the generations to come. Our sustainability

concept, PUMAVision, along with our 4Keys

Fair, Honest, Positive and Creative guides

us on our way to put this vision o a better

world into practice.

Through our PUMAVision program pUMa.Se we continuously strive to improve the

social, working and environmental condi-

tions both at our supplier actories around

the world and within PUMAs own operations.

And we develop and produce an increasing

amount o more sustainable products to

continue minimizing both our own and our

consumers environmental ootprints.

We enhance, unleash and oster creativ-

ity within the artist world and flm industry

through pUMa.Cretie as we as a design-driven company think that creativity is indis-

pensible in this world and brings about a

power to change things or the better.

PUMA.Peace is an initiative that uses an

array o programs to oster a more peaceul

world than the one we know today. pUMa.

pece makes sports equipment donations

as we think that sports has the power to

overcome hostile boundaries, bringing peo-

ple together in peace. We also engage in

educational and marketing campaigns to

raise peace awareness.

However, while we do a lot, we know we

are not perect. We have achieved numer-

ous milestones during the past years on our

mission to become the most desirable andsustainable Sportliestyle company in the

world. But we are not there yet. We have a

lot o work in ront o us to make our supplier

actories more decent places to work and to

continue mitigating PUMAs environmental

ootprint, developing more sustainable prod-

ucts and engaging our consumers into our

sustainability initiatives.

SUSTAiNABiLiTY SCORECARD 2015

The PUMA Sustainability Scorecard 2015,which was announced in 2009 and has 2010

as a baseline year, highlights the key sus-

tainability targets or PUMA. It not only

highlights a 25 percent reduction target or

main environmental key perormance in-

dicators such as CO2, water and waste by

pUMavision

2015, but also emphasizes our ocus on

vironmental accounting through our En

ronmental Proft & Loss Account, a was

reduction through biodegradable and re

clable products, an ambitious target to ha

50 percent o all international collectiomeet our PUMA Sustainability Index a

perhaps most importantly, 90 percent o o

products will be delivered by supplier ac

ries that achieved a good or ver y good res

within our auditing program or social, lab

and basic environmental standards.

A progress update on the implementation

our Sustainability Scorecard targets is g

en throughout the PUMAVision chapter

individual targets.During the year 2012 we worked on upd

ing our Sustainability Scorecard to inclu

urther social and corporate governan

targets. For more inormation, please re

to the Outlook section.

ese cic ere

ChECk OUT ThE vIdE

PUMAvsonTM

FarHonest

PosteCreate

We d t ieitte et fmu ests.We bw it fmu ilde. Antoine de Saint-Exupryw


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PUMAVision

SUSTaINaBIlITySCORECaRd

2015

50 %MORE SUSTAiNABLEPRODUCTS

CORPORATE

ENviRONM.

ACCOUNTiNg

100 %MORE SUSTAiNABLE

PACKAgiNg

-25 %CO2

EMiSSiONS

wASTE REDUCTiON

faCTORIES

COMpaNyp

ROdUCT

PRODUCT/

MATERiALSENERgY

PROCESSES wATER

PACKAgiNg wASTE

LOgiSTiCS PAPER

-25 %wASTE

gENERATiON

-25 %wATER

CONSUMPTiON

-25 %ENERgY

CONSUMPTiON

-25 %CO2

EMiSSiONS

90 %RATED

SAFE A TO B+

wASTE wATER ENERgY CO2 SOCiAL

DESigN CO2

-25 %ENERgY

CONSUMPTiON

-25 %wATER

CONSUMPTiON

-25 %wASTE

gENERATiON

PAPERLESS

OFFiCES

-25 %CO2

EMiSSiONS

Figue 3:PUMA Sustainability Scorecard 20

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PUMAVision

STakEhOldER ENGaGEMENTHOw wE ENgAgED wiTHTHE OUTSiDE wORLD iN 2012PUMAs stakeholders include businesses,non-governmental organizations, interna-

tional agencies, oundations, customers,

academics, consumers and many others. It

is crucial or us to engage with these groups

to understand their needs and expectations.

Our success depends on their respect and

trust, on their acceptance o what we do,

and ultimately on our credibility.

Our Sustainability Advisory Board met twice

in 2012 to guide us on the uture strategy

o our sustainability program and provide

eedback on individual projects.To address issues that we identifed as being

the most critical, we ormed partnerships

with our industry peers and external stake-

holders. Through both these partnerships

and our own initiatives, we support projects

that build up and strengthen our suppliers

ability to act more responsibly towards their

workers and the environment.

EMPOwERiNg wORKERS

As an even more important step, we seekto provide channels or those who are oten

voiceless such as our actory workers. By

getting them involved we can empower them.

Factory workers are given options to raise

concerns either directly with us or through

stakeholder groups committed to construc-

tive engagement and improvement. We sup-

port initiatives designed to enhance employ-

ment relations within our supply chainoperations as well as initiatives designed

to help our suppliers improve their energy

efciency or reduce the amount o haz-

ardous substances they release with their

wastewater.

Our main stakeholder engagements in 2012

included the global initiative Better Work,

notably Better Factories Cambodia and

Vietnam, the Fair Labor Association, the

Fair Wage Network, the German Develop-

ment Corporation DEG, the Zero discharge

o Hazardous Chemicals Group, The Ger-man Council or Sustainable Development,

the Sustainable Apparel Coalition, the Envi-

ronmental Protection and Encouragement

Agency as well as civil society organizations

such as the Asian Floor Wage Campaign,

the Clean Clothes Campaign, Greenpeace,

and the Institute o Public and Environmen-

tal Aairs in China.

PUMA deepened its engagement with the

Better Work program o the International

Labour Organization (ILO) by becominga Buyer Partner. Through this program,

PUMA will be involved both in decision-

making processes within Better Work and

in governance decisions.

Together with Better Factories Cambodia/

Better Work Vietnam, PUMA developed tai-

lor made capacity building programs and

continued the Human Resource Manage-

ment Systems Program it began in 2006 inChina, in collaboration with other brands.

COLLABORATiON wiTH PEERSThrough the Sustainable Compliance Initia-

tive o the fir lbor assocition, PUMA

collaborates with industry peers to reduce

audit atigue by exploring universal soc

assessment tools and systems that exa

ine root causes and go beyond checkauditing.

In Cambodia, PUMA became active throu

Better fctories Cmboi in the felds

public aairs, especially ater the shooti

incident at one o our actories in Februa

2012 ese cic ere .

Wkes i PUMa ftwe supplie fty i Viet


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PUMAVision

Prior to this, we were working with local

stakeholders such as local government

bodies to identiy areas o improvement

or growing industries like ootwear to bet-ter adopt compliance standards. PUMA

engaged with the Garment Manuactur-

ing Association o Cambodia, other buyers

as well as other multi-stakeholder groups

such as the America Apparel and Foot-

wear Association (AAFA) to address issues

aecting our suppliers in Cambodia.

PUMA was taking an active part in the 2012

worers Tribun in Cambodia arranged

by the Asian Floor Wage Campaign together

with the Clean Clothes Campaign on better

working conditions in the apparel and oot-wear industry, in an eort to better under-

stand the underlying problems o the many

labor issues aced in Cambodia the past two

years.

In Vietnam, PUMA cooperated with the Ger-

man Development Cooperation (DEG) in a

public private partnership to ensure envi-

ronmental compliance and promote envi-

ronmental efciency at our Vietnamese

suppliers throughout all supply chain levels.

ELiMiNATiNg DiSCHARgE OFCHEMiCALS iNTO OPEN wATERSIn 2011/12, Greenpeace launched its Detox

campaign ocusing on the discharge o

harmul substances into open waters by

the textile industry in China. As a result o

the campaign, major apparel and ootwe

brands, including PUMA, made a comm

ment to create a joint Rom or eli

nating the discharge o hazardous checals by 2020, and they ormed the Ze

discharge o Hazardous Chemicals Group

ese cic ere .

In 2011, PUMA joined the Sustaina

Apparel Coalition (SAC), a multi-stakehold

organization consisting o numerous bran

and entities. In 2012, the SAC released t

Higg Index, which is used to evaluate the en

ronmental perormance o brands, ma

rials, products and acilities in the appa

industry. We were involved in expanding tscope o work to incorporate ootwear

a new product category, to measure soc

perormance impacts and to use the ind

or ootwear ese cic ere .

Through the German Council or Sustainab

Development, PUMA contributed to an in

ative or gathering ideas on how eco-syste

services can be valued or a business a

internalized. This initiative was inspired

the release o the PUMA EP&L 2011.PUMA actively communicated its wo

on Social and Environmental activit

in numerous national and internation

orums to encourage others and continu

to engage with stakeholders via a consum

survey on sustainability.

1+2. Visuls f te Gee-pe e Det x cmpi g.

Pts: Geepee.

1

2


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PUMAVision

do Jones SustinbiitInex 2012, Member

oeom reserc aG,prime Sttus

Robeco SaM Sustinbiit assessments,Sier Sttus

Aprl 2012,

EiRiS Sustanablty

Ratns, wnner

EIRIS Sustinbiit

Reort

fTSE4Goo,Member

german imae Aard 2012,

PUMA SE Communcatons Drector

Ul Santjer, Charman Jochen Zetz and

CEO Franz Koch recee the germanimae Aard n October 2012.

deutsce pubic RetionsGesesct e.v.

Overall winner 2012:

PUMA, The PUMA Environ-

mental Proft and Loss

Account (EP&L)

(sponsored by Friends

o the Earth), geinner: PUMA,

The PUMA Environmental

Proft and Loss Account (EP&L)

Gurdin Sustinble Businessawrds 2012

Gurdin Sustinble Businesawrds 2012, Biodiversit

AwARDS AND RECOgNiTiONS 2012Like in previous years, PUMA worked together

with a number o analysts in the felds o sus-

tainability and socially responsible investment.

By doing so, PUMA remained listed on the

FTSE4Good and the DOW JONES Sustainabil-

ity Index, besides winning several awards and

recognitions.

Participation in industry rankings, sustain-

ability awards and research by the socially

responsible investment community allows us,

at PUMA, to better understand what external

experts think o our sustainability program and

in what areas we should continue our eorts

or improvement.


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PUMAVision

EMPLOYER BRANDiNgTo enhance PUMAs attraction as an employ-

er o choice we defned a str ategy combining

a number o measures to attract recruits

and assure current employees commit-

ment to PUMAs culture and values. The aim

o this long-term strategy is to manage the

awareness and perceptions o employees,

potential employees and related stakehold-

ers. Eective employer branding creates a

competitive advantage, helping employeesembrace company values and contribut-

ing to employee retention. Employer rank-

ings revealed concrete results, once again

listing PUMA among the top companies as

being a player who improved its position on

preceding years.

Our employer branding strategy had a com-

pany-wide rollout to ensure global consist-

ency in PUMAs ootprint as an employer. The

overall concept merges a number o aligned

communication tools. Our main objective in2012 was to take frst steps to establish an

authentic and cohesive image o the PUMA

brand and to give an idea o what it is like to

work or PUMA. The concept started o with

the movie project PUMA around the world,

an exciting journey taking our students to

pEOplE@pUMa

twelve PUMA destinations worldwide

them to experience how people rom

erent cultures live and work, guided by o

corporate principles. The seven-week t

culminated in an international career vid

oering insight on job opportunities and t

working atmosphere at PUMA worldwi

Twelve additional location movies presethe day-to-day lie in local ofces. In ea

o these short movies, PUMA employe

describe what working or PUMA means

them.

Cec it out ere:

atttig te best d mst tletedemplyees s well s develpig d eti-

ig u uet emplyees e u mj

gls i PUMa hum resues.Teefe, we fused u tivities i 2012 fute ptimiig wkig

tmspee tt is teied bymutul espet d ppeiti f e

idividul d euges t deliveget pefme.

Vide stig d iteview

t te PUMa ffie i Bst.

Vide stig d iteview

t te PUMa ffie i Bel.


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PUMAVision

Te desig f PUMas

ew jb pstigs.

PUMAs corporate website is the frst point

o contact or potential job applicants to get

inormation about PUMA and learn aboutvacancies. In 2012 we thereore developed

a concept or our website that will go live in

2013. The new interactive design and con-

tent enhances usability and provides up-to-

date inormation or dierent target groups.

NEw JOB POSTiNgSAnother aspect o our global employer

branding strategy is the redesign o job

postings. The new grafti layout is designed

to render PUMAs dynamic culture and to

stand out compared to traditional versions.The slogan JOYN US is a pun, combining

the statement o the unique PUMA culture

to fnd JOY in everything we do with the

invitation to join our company. Visuals o

real-lie PUMA employees illustrate this

authentically.

Since 2012, PUMAs job postings have been

published globally, and we consider this a

major step or harmonizing PUMAs general

perception as an employer.

PUMA HR in 2012 entered the terrain oSocial Media, too. We had come to realize

that the ever-changing online culture and

the rapidly increasing use o social media in

commerce and business require employers

to react quickly and to embrace this whole

new toolset o opportunities and challenges.

Things got underway with the creation o

a PUMA Career profle on the well-known

networks Kununu, LinkedIn and Xing. The

centerpiece, however, is a brand-new PUMA

HR Twitter channel launched in Novem-

ber. On Twitter, we will eature not only joboers but also general inormation related

to applications as well as and details about

upcoming events such as trade shows.

We are very excited to use these communi-

cation tools to engage with people rom all

over the world. ese cic ere

JoY@Wk.


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PUMAVision

TALENT MANAgEMENTPUMAs talent management strategy

thrives on a sustainable concept consisting

o early talent identifcation and develop-

ment to support the growth objective we set

in our global business plan. We attract the

best talent rom around the globe, leverag-ing each individual by eective assignment

and promotion planning to build a peror-

mance-driven organization that rewards

and retains the best talent.

TRAiNiNg AND DEvELOPMENTWhether an introductory seminar or spe-

cialized coaching, all training courses are

developed on the basis o our very own

key competencies. In the past year, exist-

ing training courses were optimized and

extended to meet our employees require-ments throughout their entire proessional

development.

Several regions continued the global trend

to urther extend the development oppor-

tunities or employees during the past

years. New trainings oers or all employ-

ees as well as the role out o the Interna-

tional Leadership Programm, led to a total

number o 7408 trained employees in 2012,

excluding all saety related trainings.

Another new training element initiated in2012 is the PUMA Aterwork Leader series

o lectures. Notable persons rom sports,

business, science and non-proft organi-

zations provide interesting concepts and

approaches in terms o leadership. The

frst lectures topic, Leading Innovations,

was presented by Proessor Malte Brettel.

He ocused on the question how to run an

entrepreneurial department successully

as an executive in a competitive environ-

ment. In early 2013 we will welcome Ken

Read, the Volvo Ocean Racing team skip-

per o the PUMA boat Mar Mostro. He willspeak about his own experience o leading

in extreme adversity and in tough times a

valuable insight and experience in the cur-

rent economic environment. The PUMA

Aterwork Leader series will continue in

2013 with other notable speakers.

ness, personal and sustainability objectives

on the one hand and coaching by managers

on the other. Being interconnected with our

training catalog, this system helps suggest

urther employee development measures.

In 2012, our internal perormance system

was rolled out to additional regions suchas India and Benelux. As the system is

used by 56 percent o the targeted work-

orce (excluding employees in Retail), we

ensure consistency and standardization in

our global competency and perormance

process. Our main objective or 2013 is to

include urther countries such as China and

Mexico to identiy and develop talent in mar-

kets with a high growth potential.

SUCCESSiON PLANNiNgIn 2012, we extended our talent manage-ment process adding a sustainable succes-

sion planning tool to ensure proper sta-

ing o key positions in order to promote

the uture growth o PUMA.

Our objective or 2013 is the alignment o

talent management and succession plan-

ning throughout PUMAs areas, regions and

headquarters as well as the alignment o

processes with our perormance manage-

ment system, People@PUMA.

Talent evaluation is one o the frst stepsin the talent management and succession

planning liecycle. The evaluation o talents

helps us identiy how to promote employees

in an even more target-oriented way and

how to defne priorities in terms o person-

nel development.

1 Defnton & aldaton o key postonby HQ / Reon /Country

2 Annual perormance & competencyapprasal by manaer

3 Talent aldaton & successon plannTalent ree: HQ / Reon /Country4 Talent assessment & fnal successonplannn MRT: Corp. HR5 Start talent deelopment to fllaccelaraton pools across leadershp

ppelne

MRT = Management Round Table

1

2

3

4

5

Figue 4:PUMA talent managemen

succession planning liecy

t. 1f.4

COMPETENCY &PERFORMANCE MANAgEMENTWe believe that every single employee plays

an important role in PUMAs success and

accomplishments. To ensure that our employ-ees always meet the competencies required

or their positions and are perectly equipped

or helping achieve our business goals, each

employee undergoes a perormance man-

agement process. The annual appraisal

interview consists o eedback against busi-


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Figue 5: Perormance-potential-matrix used in the talent evaluation process

iNTERNATiONALLEADERSHiP PROgRAMThe International Leadership Progra

is an essential part o the global train

landscape at PUMA. The programs over

objective is to build leadership skills th

support our corporate strategy among o

regional and global network o executiv

and to incorporate PUMAs corporate valuand 4Keys Fair, Honest, Positive and Cr

tive into everyday leadership.

As the eedback received rom pilot grou

in late 2011 was great and as there w

demand in other regions, the progra

was rolled out to all regions in 2012 a

is thereore the major reason or t

increase in total training hours ro

91,689 in 2011 to 99,988 in 2012. To da

160 managers rom two levels participat

in the various modules covering all lead

ship competencies required. In eedba

we received via our electronic eedba

system, participants appreciated most t

coaching elements, the hands-on leaders

toolbox as well as the best-practice shari

with international colleagues.

>

>PERFORMANCE

HigH

POTENTiAL;

vERTiCAL MOvE


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lEvEl 2

Head os,

Senor Head os

Duraton: 12 months

MOdUlE 1

> PUMA vson

> Leadershp Netorks

> Leadn Leaders

> Leadn or

Perormance

MOdUlE 2

> Handln Confcts

> Healthy Leadershp

> Leadershp inshts

> Toolbox Reresher

MOdUlE 3

> Coachn as a Leader

> Coachn Teams

> Coachn Tools

MOdUlE 4

> Leadn Chane

> Takn Decsons

> Manan Dersty

MOdUlE 5

> Follo-up workshop

INSTRUMENTS

> 360* Feedback

> Peer Coachn

> inshts Dscoery

Prole

> Personal Coachn

>

MOdUlE 1

> PUMA vson

& Stratey

> Leadn across

Borders

> Leadn by Example

MOdUlE 2

> Oransatonal

Chane

> Manan Capabl-

tes

> Chane Case work

INSTRUMENTS

> inshts Leadershp

Prole

> Personal Coachn

lEvEl 3

Top Manaement

Duraton: 6 months

>

>PROgRAM SEQUENCE

lEvEl 1

Team Heads

Duraton: 12 months

MOdUlE 1

> PUMA vson

> My values and PUMA

> My Leadershp Potental

> My Role as a Leader

MOdUlE 2

> PUMA Leadershp

Toolbox

> Leadn Teams

> Deelopn People

MOdUlE 3

> Coachn as a Leader

> Coachn Teams

> Coachn Tools

MOdUlE 4

> implementn

Chane

> PUMA Leadershp

Toolbox

> Sustanable Leader-

shp

INSTRUMENTS

> 360* Feedback

> Peer Coachn

>MOdUlE 5

> Follo-up workshop

Figue 6: Overview o International Leadership Progra

t. 1f.6


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Te suppt, guide d simple fiedsip wit te tes weelitelly life-gig. Wds t desibe w speil te tesve beme t me. PUMa ebled me t build bidge t tetiets bt pfessilly d peslly.a pltfm f PUMa cts t le me but PUMa vluesd piiples d beme PUMa ambssds itei uties.

I ejyed e week. nt ly beuse f te fu elemet, wi slwys bee tee. Yu develped mpletely ew pes. nw I

udestd myself, my tets, stesses d fes. Yu suppted med I t imgie bette pgm f emplyees develpmet.Wt is eve bette: it is me w develp my w egi.

Ptiipts f PUMa Uivesity 2012.

RETAiL TRAiNiNgPROgRAM PUMA UNivERSiTYPUMA University is an extensive Retail

Train the Trainer program conducted in

our separate weeks throughout the year.

PUMA University is designed to develop

nominated individuals able to deliver train-

ing to a consistent PUMA Training method at

local levels. Ater completing their trainingat PUMA University, graduates will become

Training Ambassadors, meaning they have

an exceptionally high level o communica-

tion, coaching and training skills. Training

Ambassadors can deliver training in local

languages on all aspects that are a must or

PUMA store sta such as service, person-

nel, management skills, product knowledge

and brand awareness.

wHAT THEY HAD TO SAYThe 4th Annual PUMA University was held in

2012 with delegates rom all regions. A ull

class o 15 graduates joined the 30+ alum-

ni spread around the world. We collected

many fnal thoughts rom this years class

and here are just a ew examples:


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DivERSiTY AND iNCLUSiONDiversity inspires and motivates us in every

aspect o our business. The diversity o our

global customers, consumers and commu-

nities is mirrored in our workorce. In 2012,

we employed people rom 41 nations in our

global headquarters in Herzogenaurach.

At PUMA we oer several intercultural

trainings to embrace and understand the

wide range o backgrounds and experiences

o colleagues, customers and consumers

around the world.

Since 2005, PUMA has been committed

to its own Code o Ethics tt://bout.

um.com/sustinbiity/ and since 2010

to the Charter o Diversity. We implement-

ed a Charter o Diversity to provide a work

YOUNg TALENTSThe recruitment, long-term com-

mitment and promotion o young

talents or PUMA are essential ele-

ments in PUMAs Human Resourc-

es strategy.

PUMA in 2012 added more career

opportunities or young people and

oered additional dual-degree pro-

grams in cooperation with universi-

ties oering cooperative education.At the end o 2012, 18 vocational trainees

and fve cooperative-education students

were employed at fve locations in Germany.

In addition to proessional training as indus-

trial business management assistant, retail

store assistant, sales specialist, IT spe-

cialist, warehouse logistics specialist and

warehouse clerk, students could begin their

careers with PUMA in the felds o interna-

tional business, sports management and

textile business management. The trainee

program, which started in late 2011, pre-

pared trainees or international positions in

fnance and controlling. Speaking o young

talents, in 2012 we hired and hosted over

150 interns and working students rom over

twenty nations.

Itduti Dy f te ew

PUMa tiees d studets i

hegeu 2012.

environment that is ree o prejudice and

where all employees are respected regard-

less o their gender, race, nationality, eth-

nic origin, religion or belie, physical abil-

ity, age, sexual orientation and identity. Our

latest employee opinion survey showed

that the vast majority o our employees eel

they are being treated airly in relation to

their gender, ethnic origin, physical state or

handicap.

In the broad area o diversity management,

our ocus in 2012 was on activities that sup-

port our plan to increase the percentage o

women in managerial positions to 40 per-

cent by the end o 2015. At the end o 2012

the percentage o emale managers remains

with 36 percent at last years level. To ur-

ther improve gender diversity in manag

ment, we oer a number o measures, ro

exible working models to extended chi

care services to monitoring or equal re

resentation o both genders in leaders

development programs. Initiatives such

the launch o a gender diversity movie a

the disability initiative Lets continue to

diverse promote and cultivate a culture

inclusion.

Cec out te vieo


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PHYSiCAL wELLBEiNg MENTAL wELLBEiNg

Socal rooms

Famly serce supportn amles n

ndn a proper chld care soluton

Cooperaton th derent chld care

acltes to oer places or employees kds

Parent-chld-oces

Buddy proram or ne comers

Summer-and Chrstmas party

Socal eents

Company sport prorams

(PUMA Athlete)

gyms ree o chares uded by a

tness traner

Company physcan

Massae and physotherapy @ ork

Seeral sport eents

water dspenser or ree Ftness lunch dshes

Apple or ree-campan

Prate penson optons

Employee dscounts

welcome @ PUMA shoppn oucher

Subenton or canteen

Fleble orkn tmes and locatons

Captal ormn payments

Medcal nsurance or traelln Employees

Rembursement o employees publc

transportaton costs

Mndulness Based Stress Reducton

(MBSR-trann)

Mndulness leadershp tranns

Reslence manaement

pUMaSORGaNIzaTIO-NalwEllBEING

SOCiAL wELLBEiNg STRUCTURAL wELLBEiNg

PUMAs Organizational Wellbeing scheme and single components at the Global Headquarters

ORgANiZATiONAL wELLBEiNgPUMA places great importance on provid-

ing a working environment and ostering

a culture that enhance positive employ-ee engagement. In the latest Employee

Opinion Survey we identifed the pro-

motion o organizational wellbeing as one

measure to improve the retention o our

employees. The employee initiated turno-

ver rate in 2012 is 24 percent and thereore

increased compared to 2010. However, the

long term goal is to reach a turnover rate

below 20 percent and keep it at a constant

level. As or the activities that contribute

to organizational wellbeing at PUMA, we

know our categories: mental, physical,

structural and social. The ollowing graphic

describes the activities at our Global Head-

quarters. Depending on local conditions and

cultural characteristics, single activities

may vary.


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PUMa emplyees vlutee-

ig i givig-bk-t-

te-evimet pjet i

Switeld.

CHARiTY ENgAgEMENTAND vOLUNTEERiSMIn 2012, PUMA employees supported vari-

ous welare initiatives to contribute to and

promote positive social change.

Three PUMA teams took on the challengeand participated in the Oxam Trailtrek-

ker event to raise unds or Oxams char-

ity work. In Australia and Ireland the teams

o our fnished the 100km trekking route in

30 hours. The unds will support Oxams

development activities in East, Central and

Southern Arica to alleviate poverty and

help change the lives o poor amilies and

communities or the bet ter.

Social Christmas is another project initi-

ated by PUMA apprentices every year. In

2012, they collected donations rom PUMA

employees to ulfll wishes o the children

living at Kinderheim St. Michael, a childrens

home near Herzogenaurach. In December,

PUMA trainees handed over Christmas gits

along with a check.

The 2012 class o our PUMA University Ret

Training Program joined a giving-back-

the-environment event held in the co

munity o Oensingen, Switzerland. Dur

the project taking place in a newly fnishapartment complex, the team cleaned

area that was being prepared or a strea

The team cleared the area rom was

bushes, roots and weeds to allow the wa

to drain properly.

In December 2012, Mundo Ejecutivo ma

zine named PUMA Mexico as being one

the companies in Mexico with the high

social responsibility awareness. For c

tinuous quality improvement o the annu

ranking o Companies Committed to a B

ter Social Responsibility in Mexico, an a

ance or the 2012 edition was made w

Centro IDEARSE or Social Responsibi

and Sustainability o Companies. This p

gram was created by Universidad Anahu

one o the leading universities in Mexico.PUMa tems tt fiised te oxfm Tiltekke i Ield.


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germany

P

Peru

Brazl

Hat

CHARiTY CATCharity Cat is an organization o PUMA

employees who engage in charity work or

projects around the globe. It was ounded

by 20 employees in early 2004 as a non-bureaucratic tool to help and support peo-

ple in need through a combination o private

and commercial donations o unds and

PUMA products.

The members o Charity Cat are volunteers.

They donate their ree time to support char-

itable projects they identiy. Charity Cat is

supported by PUMA management and other

PUMA employees worldwide.

In 2012, Charity Cat continued providing

emergency relie, one-o fnancial and

product donations and assistance in ongo-

ing projects. The budget or 2012 was some

30,000 euros o which 50 percent were

injected into ongoing annual projects.

Some o the largest initiatives include eed-

ing programs in Peru and the Philippines,

support or homeless children and chil-

dren living in poverty in Germany, as well

as donations or an orphanage in Haiti and

a community program in Brazil. These are

supported in addition to smaller projectssuch as periodical product donations to

local soup kitchens and a womens shelter.

ONgOiNg PROgRAMSFONMEH e.V. (ormerly MAEH e.V.) is among

the projects that received continued sup-

port rom Charity Cat. That organization has

been receiving donations since 2011. It cares

or children in the Philippines that lost their

parents during the earthquake in 2010. Pre-

senting the project at the PUMA employee

summer party, Charity Cat launched und-

raising or the orphans, raising an addition-

al 1,500 euros.

Other projects supported by Charity Cat

were: a school dinner project in Temblad-

era, Peru, where many parents are too poor

to provide a proper breakast or lunch or

their children; Kinder- und Jugendhaus

Bolle in Berlin, Germany, an organiza-

tion giving poor or homeless children ood,

education and a place to stay; ONG Social

Attitude, a music project in Brazil aimed at

providing a better uture or citizens living in

low-income communities; and Springboard,

a eeding program in the Philippines where

child malnutrition is still a major problem.

Charity Cat started to give fnancial aid to

Springboard two years ago. In 2012, Spring-

board provided daycare and meals or 68

children.

1. Temblde, Peu.2. cilde i as Pes d St

Mt i Bil wit tei ew

istumets.3. city ct pvided cistm

pese ts f ude pivi lege d

ilde i sevel istitutis4. as Pes d St Mt i B

1

2

3

|


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COMPENSATiON & BENEFiTSOur objective is to provide a global set o

compensation and beneft programs that

attract and retain talented employees. The

programs are reviewed regularly to ensure

they remain competitive and aligned with

our corporate goals.

PUMA believes that compensation should

be linked to perormance. PUMA thus seeksto create compensation programs where

pay components such as base salary adjust-

ments and short and long-term incentives

are aligned with individual or business per-

ormance or both. Short-term incentive, or

bonus plans are oered to some employ-

ees. Short-term incentive plan payouts are

linked to business perormance and sus-

tainability targets such as the reduction o

waste generation as well as energy, paper

and water consumption.

Long-term awards involve stock options.

Like our short-term incentive (STI) plan,

long-term award payouts are based on our

corporate perormance. At most subsidi-

aries we have collective bargaining agree-

ments that allow pay beyond industry aver-

age, extended annual leave and so orth.

PUMA also oers a variety o beneft plans

such as defned contribution and deerred

compensation retirement plans.

OCCUPATiONALHEALTH AND SAFETYAs a Sportliestyle brand, PUMA places

great emphasis on the health and wellbe-ing o its sta. We thereore adhere to an

occupational health and saety policy that

applies not only to PUMA employees but

also to the employees o our supplier ac-

tories.

For our own sites, we are operating a Health

and Saety Committee at our German Head

ofces. The OHS committee includes mem-

bers o the PUMA Works Council, the HR

and In-house Service departments, our

company physician and a health and saety

commissioner.

Periodical fre evacuation exercises as

well as frst aid, health and saety train-

ing is organized at country level. Accident

and sickness data is collected and analyzed

globally and with an injury rate o 0.67 and a

sick rate o 1.87 remains well below indus-

try average.

EMPLOYEE PRivACYAND CORPORATE gOvERNANCEPUMA respects employee privacy and dig-

nity. That is why we only collect and retain

personal employee inormation that is

required or the eective operation o thecompany or as required by law. We ensure

to keep such inormation confdential and

to disclose it only to those with a legitimate

need to know.

PUMA strives to ensure that its companies

comply with our Code o Ethics

tt://bout.um.com/sustinbi-

ity/. I employees eel that any o our ethi-

cal standards in business may have been

compromised, they can raise their voice via

a toll-ree whistleblower hotline available

worldwide.

gOvERNANCE BODiESADMiNiSTRATivE BOARD/MANAgiNg DiRECTORSIn 2012, the administrative board had nine

members including three employee rep

sentatives. In December 2012, Jean-Fr

cois Palus replaced the resigning chairm

o the administrative board, Jochen Ze

As o the end o 2012, three members

the administrative board were French, t

were German, one was Swedish, one w

British and one was US American. Three

our fve managing directors were Germaone was Italian and one was American.

wORKS COUNCiL ANDEMPLOYEE REPRESENTATivESThe PUMA SE works council (the Europe

employee representative body) in 2012 c

sisted o 20 members, representing empl

ees in 16 European countries. Six membe

o the SE works council were women. Wh

the chair o the SE works council was G

man, the other two members were Fren

and Dutch. The local German works co

cil o PUMA SE had 13 members, the ch

being a man and the vice chair being

woman. One member o the works co

cil is tasked with dealing with the needs

handicapped employees.

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Fm left t igt.: Mi el Kudt, Mttis K

D. Siegfied Keibe, D. hlly Dub

SUSTAiNABiLiTYgOvERNANCE STRUCTUREThe highest governance body at PUMA in

terms o sustainability is the Sustainability

Committee at SE level consisting o Fran-

ois-Henry Pinault (President and General

Director PPR SA), Jochen Zeitz (Chie Sus-

tainability Ofcer PPR SA, through October2012) and Bernd Illig (employee representa-

tive o PUMA SE). This committee meets

quarterly to oversee the progress o PUMA

against our sustainability targets.

PUMA sustainability management is sup-

ported by an external Sustainability Advi-

sory Board, which meets twice a year. This

expert panel currently includes:

Mice kunt (cir):

Main area o expertise: sustainable

consumption and production

> Background: Michael Kuhndt is heado the UNEP/Wuppertal Institute or

Sustainable Consumption and

Production

dr. hoy dubinMain area o expertise: biodiversity

> Background: Holly Dublin has worked orthe IUCN, the Wildlie Conservation So-

ciety and PUMAs French parent, PPR

Mttis ko:

Main area o expertise: climate change> Background: Matthias Kopp is head o

the low carbon business and fnance

sector at WWF, Germany

dr. Siegrie kreibe:

Main area o expertise: waste and recycling

> Background: Siegried Kreibe is a direc-tor o the Bia Environmental Institute

auret n heeren

Main area o expertise: labor standards

> Background: Auret van Heerden ispresident and CEO o the Fair

Labor Association

Sustainability unctions at PUMA are not

limited to a single department. While

PUMA.Sae historically held a coordinat-

ing role, all business unctions including

Corporate Strategy, Product Development,

Sourcing, Logistics, Marketing, Retail, HR

and Finance have their own sustainability

leads to support PUMAs overall sustain-

ability journey.

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TOTAL wORKFORCE* BY EMPLOYMENT TYPE AND EMPLOYMENT CONTRACT

wORKFORCE

REgiON

PERMANENT FixED TERM RATiON PERMANENT

Permanent

2010

Permanent

2011

Permanent

2012

Fxed Term

2010

Fxed Term

2011

Fxed Term

2012

Rato Perma-

nent 2010

Rato Perma-

nent 2011

Rato Perma-

nent 2012

apaC 1,714 1,973 2,006 709 882 952 71 % 69 % 68%

EMEa 3,892 4,121 4,281 541 615 712 88 % 87 % 86%

ltin americ 1,781 2,088 2,062 70 118 123 96 % 95 % 94%

Nort americ 2,129 2,305 2,439 530 602 740 80 % 79 % 77%

Tot 9,516 10,487 10,788 1,850 2,217 2,527 84 % 83 % 81%

wORKFORCE

REgiON

FULL-TiME PART-TiME

Full-Tme

2010

Full-Tme

2011

Full-Tme

2012

Part-Tme

2010

Part-Tme

2011 *

Part-Tme

2012 **

Rato Part-

Tme 2012

apaC 2,358 1,915 2,270 65 58 688 23 %

EMEa 3,941 3,583 4,051 492 538 942 19 %

ltin americ 1,759 1,960 2,018 92 128 167 8 %

Nort americ 1,481 1,108 1,141 1,178 1,197 2,038 64 %

Tot 9,539 8,566 9,480 1,827 1,921 3,835 29 %

t. 1T.2

t. 1T.3

* Permanent contracts only** Total Workorce

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NON MANAgERS 2010 NON MANAgERS 2011 NON MANAgERS 2012Female Male Rato Female Female Male Rato Female Female Male Rato Female

apaC 1,095 861 56 % 1,259 1,076 54 % 1,318 1,133 54%

EMEa 1,964 1,727 53 % 2,077 1,865 53 % 2,194 1,970 53%

ltin americ 518 1,118 32 % 623 1,369 31 % 593 1,294 31%

Nort americ 1,104 1,244 47 % 1,239 1,349 48 % 1,407 1,452 49%

Tot 4,681 4,950 49 % 5,198 5,659 48 % 5,512 5,849 49%

REgiON

MANAgERS 2010 MANAgERS 2011 MANAgERS 2012Female Male Rato Female Female Male Rato Female Female Male Rato Female

apaC 164 303 35 % 191 329 37 % 177 330 35%

EMEa 257 485 35 % 284 510 36 % 303 526 37%

ltin americ 72 143 33 % 74 140 35 % 89 209 30%

Nort americ 123 188 40 % 124 195 39 % 126 194 39%

Tot 616 1,119 36 % 673 1,174 36 % 695 1,259 36%

REgiON

TOTAL wORKFORCE* iN HEADS CONSiSTiNg OF RETAiL AND wHOLESALE

t. 1T.4

t. 1T.5



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TOTAL NUMBER OF EMPLOYEES

Total 2010 Total 2011 Total 2012

apaC 2,183* 2,855 2,958

EMEa 4,673* 4,736 4,993

ltin americ 1,851 2,206 2,185

Nort americ 2,659 2,907 3,179

Tot 11,366 12,704 13,315

REgiON

AgE DiSTRiBUTiON2011* 25 years 25 30 31 40 41 50 51 55 56 60 60 Total

apaC 344 545 660 307 68 34 15 1,973

EMEa 785 1,141 1,347 619 141 64 24 4,121

ltin americ 487 562 685 251 50 29 24 2,088

Nort americ 1,097 508 395 212 52 25 16 2,305

Tot 2,713 2,756 3,087 1,389 311 152 79 10,487

25.87 % 26.28 % 29.44 % 13.24 % 2.97 % 1.45 % 0.75 % 100.00 %

REgiON

* employees o New Zealand voluntarly provided age brackets, permanent contracts only

TOTAL wORKFORCE* BY EMPLOYMENT TYPE

AND EMPLOYMENT CONTRACT

AgE DiSTRiBUTiON2012* 25 ye ars 25 30 31 40 41 50 51 55 56 60 60 Total

apaC 666 834 979 329 76 52 22 2,958

EMEa 1,257 1,352 1,474 665 151 67 27 4,993

ltin americ 493 606 729 244 59 22 32 2,185

Nort americ 1,739 618 478 230 64 28 22 3,179

Tot 4,155 3,410 3,660 1,468 350 169 103 13,315

31.21 % 25.61 % 27.49 % 11.03 % 2.63 % 1.27 % 0.77 % 100.00 %

REgiON

* employees o New Zealand voluntarly provided age brackets, permanent and

fxed-term contracts

REgiON

AgE DiSTRiBUTiON2010* 25 ye ars 25 30 31 40 41 50 51 55 56 60 60 Tota

apaC 265 406 615 269 74 31 13 1,673

EMEa 805 1,071 1,252 550 130 62 22 3,892

ltin americ 373 487 617 210 48 29 17 1,781

Nort americ 1,003 536 340 179 40 16 15 2,129

Tot 2,446 2,500 2,824 1,208 292 138 67 9,475

25.82 % 26.39 % 29.80 % 12.75 % 3.08 % 1.46 % 0.71 % 100.00 %

* fgures dier rom total permanent contract since New Zealand fgures are not

reected or legal reasons, permanent contracts only

t. 1T.6 t. 1T.8

t. 1T.7 t. 1T.9

* TOTAL WORKFORCE IN HEADS CONSISTING OF RETAIL AND WHOLESALE EMPLOYEES

* One country was shited rom EMEA to APAC in the 2011 report



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p :33 | C : 2


PUMAVision

TURNOvER

TOTAL NUMBER AND RATE OF EMPLOYEE iNiTiATED TURNOvER BY REgiONLeans

n 2010

Leans

n 2011

Leans

n 2012

Turnoer n

2010 n %

Turnoer n

2011 n %

Turnoer n

2012 n %

apaC 402 549 537 17 19 18

EMEa 1,037 786 923 23 17 18

ltin americ 190 202 282 10 9 13

Nort americ 1,423 1,217 1,500 54 42 47

Tot 3,052 2,754 3,242 27 22 24

REgiON

NUMBER OF HOURSSPENT iN SAFETY-RELATEDTRAiNiNg

PEOPLE TRAiNEDiN FiRE

EvACUATiONNUMBER OF

EMPLOYEES TRAiNED iN

FiRST AiD

2010 2011 2012 2010 2011 2012 2010 2011 2012

apaC 238 281 642 222 278 358 26 25 26

EMEa 8,539 5,215 7,581 3,029 2,430 2,947 762 949 1,040

ltin americ 918 862 702 203 327 619 35 113 49

Nort americ 288 661 955 6 138* 140 16 139 129

Tot 9,983 7,019 9,880 3,460 3,173 4,064 839 1,226 1,244

* Fire evacuation has been part o the onboarding process since 2011

REgiON

PERCENTAgE OF EMPLOYEES COvERED BY COLLECTivE BARgAiNiNg AgREEMENTSRato 2010* Rato 2011* Rato 2012**

apaC 6 % 6 % 4%

EMEa 45 % 47 % 41%

ltin americ 79 % 80 % 73%

Nort americ 0 % 0 % 0%

Tot 33 % 36 % 28%

REgiON

* Permanent contracts only** Total Workorce

t. 1T.10 t. 1T.11

t. 1T.12

COLLECTivE BARgAiNiNg AgREEMENTS

* TOTAL WORKFORCE IN HEADS CONSISTING OF RETAIL AND WHOLESALE



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p :34 | C : 2


PUMAVision

ABSENTEEiSM RATE ABSENTEEiSM RATE DUE TO SiCKNESS2010 2011 2012 2010 2011 2012

apaC 0.41 % 0.84 % 1.22 % 0.26 % 0.42 % 0.52 %

EMEa 6.54 % 6.02 % 5.88 % 2.51 % 2.43 % 2.45 %

ltin americ 3.36 % 3.71 % 3.56 % 2.04 % 2.29 % 3.41 %

Nort americ 1.11 % 1.00 % 1.09 % 0.36 % 0.70 % 0.67 %

Tot 3.23 % 3.45 % 3.50 % 1.39 % 1.61 % 1.87 %

REgiON

TOTAL ACCiDENTS TOTAL iNJURY RATE (OSHA) FATAL ACCiDENTS2010 2011* 2012* 2010 2011* 2012* 2010 2011 2012

apaC 3 1 4 0.14 0.04 0.15 0 0 0

EMEa 24 16 23 0.57 0.41 0.54 0 0 0

ltin americ 54 39 45 2.96 1.99 2.05 0 0 0

Nort americ 1 5 1 0.05 0.31 0.06 0 0 0

Tot 82 61 73 0.78 0.61 0.67 0 0 0

REgiON

* Without way-to-work accidents and accidents that did not lead to a workstoppage o one day or more

TRAiNiNg HOURS NUMBER OF TRAiNED EMPLOYEES2010 2011 2012 2010 2011 2012

apaC 13,723 23,348 23,342 1,009 1,276 1,360

EMEa 38,434 37,459 40,010 1,763 2,037 2,123

ltin americ 6,442 8,526 8,470 310 706 802

Nort americ 6,150 22,356 28,166 138 1,780 3,123

Tot 64,749 91,689 99,988 3,220 5,799 7,408

REgiON

t. 1T.14

t. 1T.15t. 1T.13

RATE OF iNJURiES, ACCiDENTS ETC. EDUCATiON TRAiNiNg, COUNSELiNg PREvENTiON

* TOTAL WORKFORCE IN HEADS CONSISTING OF RETAIL AND WHOLESALE EMPLOYEES


36/223

Th world s w hv crTd iT

is a process of our

thinking. it cannot be

chngdwiThouT chngingour Thinking.

- Albert Einstein


37/223

pum.sae

3chpTrPUMA.Safe Ecology 37

Improvig PUMAs Evirometal Footprit 37

The PUMA Prouct Evirometal Profit a Loss Accout 39

More Sustaiable Proucts 41

S-IndEx 44

Evirometal Maagemet of PUMA Operatios a our Supplier Factories 46

PUMA.Safe Humaity 58For better Social a Workig Staars i our Supplier Factories 58

Our Costat Worry Camboia 60

Impellig Freeom of Associatio 60

Better Wages i the Supply Chai 61

Factory Auit Results 63

Brigig our Social Compliace a Performace

Staars up to Spee 69

Traiig our Suppliers i Social Issues 70

p :37 | c : 3 PUMA.SAfe


38/223

PUMA BUSineSS And SUStAinABility RePoRt 2012

pum.sf cologyimproving pums

nvironmnTl fooTprinT

pum nd ThnvironmnT in 2012

rod To Zro dischrg

nd higg ind

2012 marked a shift in the Sportlifestyle

industry and the Apparel industry in par-ticular. Through the formation of the ZeroDischarge of Hazardous Chemicals (ZDHC)group in response to the Greenpeace De-tox campaign and through the launch of theHIGG Index by the Sustainable Apparel Coa-lition, the most progressive industry players

joined forces to nd solutions for tacklingthe challenges our industry faces. The keyissues included the release into open wa-ters of hazardous substances produced inthe lower tiers of the industrys supply chain

as well as the lack of shared standards forsustainable products and manufacturing.PUMA joined these initiatives by testing 13products under the HIGG Index and by con-tributing to the roadmap and benchmarkstudy of the ZDHC group.

Te h iex

Te staabe ae cat isan industry-wide group of over 60 lead-ing apparel and footwear brands, retail-ers, suppliers, nonprots and NGOsworking to reduce the environmentaland social impacts of apparel and foot-wear products around the world.The focus of the Sustainable ApparelCoalition is The Higg Index that meas-ures the environmental performance ofapparel products. Future versions willinclude footwear products and measuresocial performance.The Higg Index 1.0 is primarily an indi-cator-based tool for apparel that allowscompanies to evaluate material types,products, facilities and processes on the

basis of a range of environmental andproduct design choices. The Higg Indexasks practice-based, qualitative ques-tions to assess environmental sustaina-bility performance and to drive behaviorfor improvement.PUMA has been a member of the Sus-tainable Apparel Coalition since 2011. In2012, PUMA tested 13 apparel productsunder the HIGG Index. Starting 2013,all PUMA key Apparel suppliers will beencouraged to complete

the facilities moduleof the HIGG Index.

The PUMA.Sae team or the rst time ever

publishe the results o the unpreceente PUMA

Prouct Environmental Prot an Loss Account

(Prouct EP&L), which assesse environmental

impacts an amage cause uring the prouc-

tion process an consumer lie o two pairs o

shoes an two shirts. The results o this analysis

are quite encouraging our newly evelope bio-

egraable an recyclable InCycle collection prouce a

largely improve environmental ootprint in comparison

with traitional PUMA proucts.

pt eta pta l t

PelletizedPolyester gran-ulate gained

rom the sh redd edrack Jacket.



39/223


CEO Franz Koch and Cemzdemir, Chairman o the partyBndnis 90/Die Grnen, inaugu-rated PUMAs new solar-poweredcharging station or electric carsat the PUMAVision Headquartersin Herzogenaurach.

2012 saw the opening o

a new photovoltaic powerplant at our main logistics

center in Germany an the

launch o a solar-powere

charging station or elec-

tric cars at our PUMAVision

heaquarters in Germany.

PUMA sta an PUMA cus-

tomers may use the sustain-

able reueling station or

ree. In Inia, we opene our

rst low-energy store, which

uses photovoltaic power

generation in aition to

energy-ecient lighting an

air conitioning.

With the completion o the

ConserV project in Vietnam,

58 PUMA suppliers were

traine by resource eciency

experts in a move towars

realizing PUMAs ambitious

targets or saving 25 percent

in CO2 emissions, water an

waste between 2010 an 2015.

eae ee

The move towars

renewable energy wasvisible at selecte key

suppliers ater the

commissioning o a water

turbine an a photovoltaic

power station by two

key suppliers in South

Arica an Georgia.

eae ee

etapeat pum tte

pum secat reeabee

i reee se fate veta



40/223


because the energy

require or leather

prouction is lower than

the energy

require or

cotton abric pro-

uction.

In 2012 we started extending our 2010 PUMAEnvironmental Prot and Loss Account tothe product level, analyzing two more sus-tainable products and two conventionalproducts: one pair of our biodegradablePUMA sneakers InCycle Basket and one

biodegradable InCycle cotton PUMA T-shirtversus one pair of the conventional retroPUMA Suede shoes and one conventionalcotton PUMA T-shirt.

whT for?

Beae: We wanted to know how much itwould cost in euros and cents to compen-sate the environmental impacts and dam-age caused during the production process,consumer life and disposal of two pairs ofshoes and two shirts. This helped us assess

whether our efforts to become a more sus-tainable company and develop more sus-tainable products are in fact making a posi-tive difference.Along the way, we gained interesting andmind-boggling insights. Did you know that

producT grn-hous gs

wTr

wsT

irpolluTion

lndus

nvironmn-Tl cosTs

rTilpric

convn-Tionl pumsud

2.16 0.61 0.30 0.74 0.48 4.29* 85

Biodgrd-Bl pumincyclBskT

1.41 0.49 0.12 0.84 0.09 2.95* 95

incyclsvings in %

-35 % -21 % -60 % +14 % -20 % -31 % +12 %

nvironmnTl cosTs of shos

*These environmental costs are provided as units of comparison and are notrelated in any way to the retail price of the product.

t.1T.16

Th pum producT nvironmnTlprofiT nd loss ccounThow much do you Think your pumshos cosT Th nvironmnT?

60 % lsswsT

21 %lss wTr

because more water

is neee or the

tanning o leather

than or the prouc

tion o cotton.

because waste generatio

rom the prouction an

processing o leather e

cees that or cotton. A

the InCycle Basket is 10

percent compostable at

the en o its lie, no envi

ronmental costs arise at th

stage as long as the prouct is

not ispose o in lanlls or incinerate

20 %lss lnd

us

14 %mor ir

polluTion

nvironmnTlsvings of Th pumincycl BskT:

because less lan

is require or the

prouction o cotton

than or the prouc-

tion o leather rom

cattle arming.

35 % lssgrnhous

gs missions

because the InCycle Baskets upper

is mae o a mix o organic

cotton an linen while the

PUMA Suees leather is

responsible or more GHG

emissions associate with

the raising an slaughter-

ing o cattle.



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33 % lssgrnhous

gs missions

2 %

mor wTr

36 % lsswsT

because the water nee or or-

ganic cotton arming in China has

a higher value than the water use

or conventional cotton armingin Australia, where is source the

conventional shirts cotton.

because the In-

Cycle shirt has not

been ye but comes in naturalcolors to eliminate waste such

as packaging an chemical resi-

ues uring the yeing process.

Whats more, it is wrappe in

more sustainable packaging.

because o its lighter pack-aging. The prouction o

sustainable packaging nees

less energy than the manuactur-

ing o conventional packaging,

causing less air pollution.

because the pro-

uction o organ-

ic cotton causes

less GHG emis-

sions ue the

use o synthetic

ertilizers or con-

ventional cotton.

because the Incycle

shirts cotton is source

rom lower value lan.

Lan use valuation is

aecte by a range o

actors, incluing the

country o origin.

nvironmnTl svings ofTh pum incycl T-shirT:

producT grn-hous gs

wTr

wsT

irpolluTion

lndus

nvironmn-Tl cosTs

rTilpric

convn-Tionl pumT-shirT

1.79 0.33 0.10 1.00 0.20 3.42* 20

Biodgrd-Bl pumincyclBskT

1.20 0.34 0.06 0.70 0.06 2.36* 20

incyclsvings in %

-33 % +2 % -36 % -30 % -70 % -31 % 0 %

nvironmnTl cosTs of T-shirTs

*These environmental costs are provided as units of comparison and are not relatedin any way to the retail price of the product.

t.1T.1731 waste disposal trucks are needed to clearthe waste that 100,000 pairs of conventionalsneakers cause during their productionprocess and consumer life until their own-ers throw them away and they end up inlandlls or incinerators?More importantly, we found out that our bio-degradable shoe, PUMA InCycle Basket, andthe biodegradable InCycle cotton T-shirtcause 31 eet e eetaat than our conventional products.Our analysis focused on the environmentalimpacts caused by greenhouse gas (GHG)emissions, waste and air pollution as wellas the use of natural resources such aswater and land along the entire value chainfrom the generation of raw materials to theproduction process to the consumer phasewhen our customers use, wash, dry, iron

and nally dispose of the products.More importantly, our pum pt-p&l* evaluates these environmentalimpacts and attaches a tag denominatingthe price in euro and cent. Though we donot expect our customers to absorb thecosts of these impacts, we believe it isnecessary to make their magnitude clear toour consumers.By showing environmental costs in eurosand cents, our new PUMA Product EP&L vis-ualizes the environmental impacts of PUMA

products, comparing products in terms ofenvironmental sustainability in a way any-one can understand. It is thus a powerfulassessment tool for comparing the level ofsustainability for different products.While the environmental impacts of the

conventional PUMA Suede amount to 4.29euros per unit, the environmental impactsof the biodegradable PUMA InCycle Basketare only 2.95 euros and therefore 31 percentlower.

* The PUMA EP&L as well as Product Level EP&L fallsoutside of the external assurance scope of this report

>Th nvironmnTl

cosTs of Th Biodgrd

Bl pum incycl shirT(2.36 uros) r 31 pr-

cnT lowr Thn Thos

of Th convnTionl

pum coTTon shirT (3.42

uros).

70 % lsslnd us

30 % lssir polluTion



42/223


PUMAs Clever World includes all of PUMAssustainable innovations by delivering life-style and performance products with alower environmental impact and a moresocially responsible aspect to consumers.PUMAs Clever World invents and deliversinitiatives that engage, educate, inspire and

help PUMAs staff, our brand and consum-ers to lead a more sustainable lifestyle. Andnally, it is how PUMA talks about sustain-ability. It is PUMAs unique way of chat-ting with consumers about sustainability,in a green marketplace many people ndconfusing. Our aim is to communicate in atransparent, credible, educational way andfull of PUMA JOY.PUMAs Clever World encompasses PUMAsconsumer-facing sustainability initiativesincluding the InCycle collection, the Bring

Me Back recycling program, our moresustainable, vegan, shoe Re-Suede, thePUMA Sustainable Design Collective, andour Clever Little Bag. PUMAs Clever Worldshowcases a journey that began in 1999when PUMA started implementing more

pums Biodgrd-Bl nd rcyclBlincycl collcTion

We eel that we areresponsible or the

environmental impactour products causeand this innovative con-cept in sustainabilityis a irst step towardsour long-term visiono using innovativematerials and designconcepts or PUMAproducts that can berecycled in technicalprocesses or compostedin biological cycles. Franz Koch, October 2012

In 2012 we achieved a major milestoneour More Sustainable Products portfointroducing biodegradable and recyclashoes, shirts and bags to the PUMA prodrange.With our InCycle collection, we took a step in addressing the environmental foprint of our consumers disposal, helpthem reduce their personal waste geeration by returning their used produ

to PUMAs Bring Me Back recycling binsPUMA stores.We took on the challenge of launching entire line that is either biodegradable recyclable and 100 percent Cradle-to-Cdle Basic certied CM. The PUMA InCycle c

mor susTinBlproducTspums clvr world

sustainable supply chain projects and goals.PUMAs Clever World is formally introducedto the market in early 2013, with the launchof the Clever World Website. The websitehosts all Clever World initiatives and proj-ects and is part of PUMAs rst large-scaleintroduction of CLEVER to the consumer.

We will also run Clever World Week, a PR-focused series of global events culminatingin a single week during 2013. Support forthis week will come through many chan-nels including retail installations and socialmedia campaigns.

goingroundincyc

les

rcyclBl

chck ouT Th vido



43/223


lection includes the Basket lifestyle sneaker(biodegradable), the legendary PUMA TrackJacket (recyclable), shirts (biodegradable)and a backpack (recyclable), among manyother items.Since PUMAs 2010 Environmental Protand Loss Account (EP&L) revealed that 57percent of PUMAs environmental impact isassociated with the production of raw mate-rials such as leather, cotton and rubber, weaimed at increasing the number of productsmade of more sustainable materials. Onlymore sustainable raw materials have beenused to manufacture this collection: PUMAInCycle uses, among others, biodegradablepolymers, recycled polyester and organiccotton to eliminate pesticides, chemical fer-tilizers and other hazardous chemicals.

Th rcyclBlincycl producTsRecycling means that used materials which normally end up in conventionaldisposal such as landlls and incinerationplants will be processed into new materi-als. Recycling uses less energy comparedto conventional raw material manufac-turing, reducing air pollution from wasteincineration and land use from land lling.Recycling requires energy too but far less,on average, than raw material produc-

tion. As a prerequisite for products to berecyclable the materials contained in theproduct should be no blended materials.Homogeneity is necessary because mixedor composite materials require separationduring recycling and pure recycled mate-

rials usable to replace new raw materialsare very hard to create. PUMAs recyclableInCycle products such as the PUMA TrackJacket and the Backpack have are basedon homogenous materials to ensurethey are fully recyclable at the end oftheir lifecycles.The recyclable PUMA Track Jacket is98 percent made of recycled polyesterderived from used PET bottles, whilethe conventional PUMA Track Jacketcontains additional materials such aselastane. To fully ensure the homogeneityof materials, the recyclable jackets zipperwas made of recycled polyester too. TheInCycle PUMA Track Jacket, once returnedby the consumer and collected throughPUMAs Bring Me Back program, can bereconverted into polyester granulate serv-

ing as a secondary raw material for otherproducts made of recycled polyester, thusreducing the need for crude oil and energyand the amount of waste produced.The PUMA Backpack is made of polypro-pylene and will be returned to the originalmanufacturer in China after collecting thebag in a Bring Back Bin at a PUMA store.The Chinese manufacturer produces newbackpacks from the recycled polypropyl-ene.A functional recycling system depends on

consumers that understand the overallconcept and how they can help individually.PUMA is doing its share by disposing of allcollected products in a responsible way.

BiodgrdBlproducTsFor products to be biodegradable,they need to be made of biode-gradable materials only, includingorganic bers with no toxic chemi-cals, and they need to comply withcertain international standardsfor composting. This ensures thatthe very sourcing and manufac-turing process of biodegradablePUMA products creates the least

environmental impact possible.The upper of PUMAs biodegrad-able lifestyle sneaker, Basket,is made of a mix of organic cot-ton and linen while the sole iscomposed of the biodegradable

PUMA has continue to

bring their 2010 Environmen-

tal Prot & Loss account to the

next level. By looking more eep-

ly into ning ways to internalize the

nings, PUMA is making stries to re-

uce the ootprint. Measurably lessening

their environmental impacts is an essen-

tial step in their journey to sustainability

in the long run. PUMAs continue engage-

ment with inustry-leaer in the voluntary

carbon market, Willie Works Carbon,

actively emonstrates that investment in

the voluntary market, irectly linke to a

proactive strategy on the groun can lea

to improving both conservation an evel-

opment nees at the most local level.

On the social ront, PUMA continues to

explore ways to work with their strate-

gic suppliers to ensure that social coeso conuct are not only met but that new

ways are oun to ensure better conitions

or people working throughout their sup-

ply chain.

Holly Dublin, Direc-tor and Special

Advisor Sustain-

ability,

PPR and Member

of the PUMASustainability

Advisory Board

BiodgrdBl



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PUMA BUSineSS And SUStAinABility RePoRt 2012pum Businss nd susTinBiliTy rporT 2012

Pro. Dr. Michael Braungart, Founder of EPEAInternationale Umweltforschung GmbH and Co-Founder of the Cradle-to-Cradle-principles

It is such a great accomplishment to see PUMA taking the initiative, an lea-

ing their company towars eveloping proucts that generate a benecialootprint. Their line o sports an liestyle proucts are truly esigne base

on the Crale to Crale esign principles. Their new collection, along with

their cooperation with I:CO an their Bring Me Back system, put them at the

oreront o holistic beauty, innovation, an quality.

Matthias Kopp, WWF Deutschland,Head Low Carbon Business & Finance

PUMA has been unertaking a range o very innovative approaches to

capture its environmental impacts. It has thus also create a positive push

with regars to new concepts an thinking. How these insights will trans-

late into PUMAs management processes an impact reuction programs

will be very interesting to ollow up on.

Dr. Siegried Kreibe, Deputy Head / Director,bifa Umweltinstitut GmbH / bifa environmentalinstitute

The PUMA team enthusiastically has pushe ahea with the improvement

o en-o-lie phase by a broa range o activities. An important result isthe growing proportion o recycle material use in PUMAs proucts. This

will contribute to lower resource consumption an environmental impact.

Furthermore, the collection o use proucts by PUMAs bring me back

program allows an improvement o the recycling o collecte amounts. Fi-

nally, the improve recyclability o many PUMA proucts provies better

preconitions or a high quality recycling.

polymer APINATbio, a material innova-tion that is biodegradable when disposedcorrectly. When collected through PUMAsBring Me Back Program, shredded andtransported to an industrial compostingfacility, the materials of the Basket sneakercompost into natural humus and becomepart of the ecosystem again.All products of the PUMA InCycle collec-tion are Cradle-to-Cradle Basic certiedCM,being the rst collection of footwear, appar-el and accessories to carry this certication.The aim of the Cradle-to-Cradle design

concept is to have an improvedconsumer quality that poses no

health risk for anyone in con-tact with a PUMA InCycle

product, and to delivereconomic and ecolog-

ical benets on top.

Bring m Bck To pumTo reduce waste and keep products outlandlls and to provide a collection pofor returned PUMA InCycle products installed recycling bins in PUMA stores aoutlets in Germany in 2012 for customersreturn used shoes, clothing and accesries of any brand.Run in cooperation with I:CO, a global recling company, our PUMA Bring Me Bainitiative aims at encouraging the recycland re-usability of Sportlifestyle produamong consumers by providing a convnient and simple process: Consumers tatheir used shoes, clothing and accessorifrom any manufacturer, to a PUMA stoand deposit them in the designated Br

Me Back bins. We distribute those usproducts for re-u

annual report puma

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