PUMA Adopts Licensing Model with United Legwear in North America

PUMA has transitioned from a business partnership to a licensing agreement with United Legwear Company LLC (ULAC) for the US and Canada. Effective November 1, 2025, this change allows ULAC to sell PUMA-branded products, including socks, underwear, children's apparel, and accessories. Previously, PUMA held a 51% capital share in their joint partnership, PUMA United, which focused on these sales.

This strategic move is part of PUMA’s initiative to reduce complexity and concentrate on its core business in North America. By adopting a licensing model, PUMA aims for a streamlined, efficient operational structure, enhancing investor transparency through clearer financial reporting. As a result, PUMA United will be categorized as a discontinued operation in financial reports. Sales from their partnership amounted to €427.9 million in 2024.