Puma transitions its collaboration with ULAC into a licensing partnership

Puma is overhauling its distribution model for the North American market. Its partnership with United Legwear Company LLC (ULAC) is being converted into a licence agreement. Under the new arrangement, ULAC will primarily sell Puma socks and underwear, as well as children’s apparel and accessories, in the US and Canada.

The shift from a partnership to an exclusive licence agreement forms part of Puma’s strategic priorities. The Herzogenaurach-based company aims to reduce the complexity of its North American business model and focus more closely on its core business in the region. The change took effect on November 1.

Previously, products in these categories in the US and Canada were distributed through Puma United, a partnership between Puma and United Legwear Company LLC. Puma held a 51% stake in Puma United. Products distributed by Puma United were manufactured, transported and stored by United Legwear and its suppliers.

The move will also further strengthen the 25-year business relationship between Puma and ULAC. Alongside its third-quarter results on October 30, Puma had already announced that it has initiated a reset phase for 2025 and is optimising its distribution. Financial details of the new licence agreement with United Legwear were not disclosed.

As a result of the change, Puma United will be classified as a discontinued operation in Puma’s financial reporting from November 2025. Accordingly, the figures for the current year and the prior period will be adjusted and reported separately. In the 2024 financial year, Puma United’s sales consolidated within the Group amounted to 427.9 million euros.