MAM
Jacqueline is Lee brand ambassador
MUMBAI: Lee Jeans, has always been synonymous with innovation in the world fashion scene over the last 128 years. As it’s always been, Lee’s history tells a story of constant progress and innovation. Of change. Of standing out over generations. And for the first time in India, the brand has partnered with a celebrity who reflects the same characteristics as that of the brand. Lee Jeans unveiled Jacqueline Fernandez as their brand ambassador today! Jacqueline with her optimistic spirit is known to have charted her way into the competitive Bollywood industry, making a mark of her own. An extremely popular personality, especially among the youth as she embodies the energy of today’s generation. This is reflective in her versatile craft and her curious attitude as she explores new mediums and new formats in the entertainment industry. Hence Lee has signed her up to further re-instate the brand’s own personality.
Jacqueline’s immediate campaign with Lee will showcase their latest product innovation for the Indian Woman – Body OptixTM. Lee Jeans have always been flag bearers of relentless ideation, meeting true-blue craftsmanship. Creating stories in authentic denim, in all shapes, fits and sizes. Where curiosity inspires unique thinking. Pioneering fashion with purposeful designs. And delivering to the world of fashion, denims crafted with over a century’s worth of rich heritage; leading to creation of historic styles but with contemporary stitching.
Jacqueline mentioned that “Denims have this soft corner in all our hearts and these pairs are such a great companion of our growing up years. Lee is most definitely a synonym of denim as the brand has been here for over a 128 years because of innovators, ideators and master craftsmen as part of their team,” she further continued, “So there was no second thought, I mean who would think twice before signing up with a global Icon like Lee – at least I wouldn’t!”
Lee Jeans also unveiled a game changing product innovation designed for the Indian woman – BODY OPTIX™ denims! Here, traditional denim designs are combined with ground-breaking vision science and design to create holistic body shaping specifically for the Indian female body.
“With BODY OPTIX™ denims, Lee Jeans is revolutionizing the way denims have been envisioned, created and worn in the world! The primary objective of the brand has always been to bring to the end consumer, denims that are comfortable, easy to wear, yet add that certain X factor for the wearer and enhance their denim-wearing experience, said, Lee India GM Sharad Walia.
Brands
PUMA Q1 profit jumps 19.6 per cent to €51.9m despite 6.3 per cent sales decline
Inventory clean-up and cost controls lift earnings as brand navigates transition year
HERZOGENAURACH: PUMA has kicked off 2026 on a steady note, reporting improved profitability in the first quarter even as sales slipped, signalling early progress in what it calls a transition year.
The German sportswear major posted sales of €1,863.8 million in Q1 2026, down 6.3 per cent on a reported basis. On a currency-adjusted basis, the decline was milder at 1.0 per cent, helped by ongoing inventory clearance efforts.
Profitability, however, told a more upbeat story. Gross profit margin rose 60 basis points to 47.7 per cent, driven by the reversal of inventory reserves, lower freight costs and a favourable channel mix. EBIT climbed 19.6 per cent to €51.9 million, despite €-12.6 million in one-time costs linked to a cost efficiency programme. Adjusted EBIT stood at €64.4 million, up from €61.3 million a year earlier.
Net profit from continuing operations surged to €26.5 million, a sharp jump from €1.1 million in Q1 2025, with earnings per share improving to €0.18. The financial result also improved significantly to €-15.6 million from €-38.5 million, aided by currency tailwinds.
Speaking on the performance, PUMA chief executive officer Arthur Hoeld said, “In the first quarter our athletes won 21 medals at the World Athletics Indoor Championships and set national records at the Berlin Half Marathon. Operationally, we were off to a solid start to our transition year in 2026. We have managed to reduce our inventory levels faster than planned, streamlined our product portfolio and addressed operational inefficiencies.”
Inventory reduction remained a central theme. Inventories fell 8.6 per cent to €1,898.0 million, while working capital dropped 9.7 per cent to €1,879.2 million. Trade receivables declined 20.3 per cent and trade payables were down 26.2 per cent, reflecting lower sales and purchasing volumes.
Regionally, performance was mixed. EMEA sales fell 10.4 per cent on a currency-adjusted basis to €774.5 million, impacted by weak demand and geopolitical tensions in the Middle East. The Americas grew 6.1 per cent (currency-adjusted) to €655.6 million, led by a strong 10.5 per cent rise in Latin America, though reported growth was hit by currency fluctuations. Asia Pacific emerged as a bright spot, growing 7.9 per cent to €433.8 million, supported by strong demand in Greater China and Southeast Asia.
By channel, wholesale revenue declined 2.8 per cent (currency-adjusted), while direct-to-consumer sales rose 3.8 per cent to €528.1 million. The DTC share increased to 28.3 per cent from 27.5 per cent last year, reflecting a sharper focus on owned retail and digital channels.
Product-wise, footwear sales dipped 2.3 per cent (currency-adjusted) to €1,089.6 million, though running and training categories showed strong growth. Apparel inched up 0.9 per cent to €546.3 million, aided by football and golf, while accessories remained broadly stable at €227.9 million.
Free cash flow, though still negative at €-201.4 million due to seasonality, improved significantly from €-737.6 million a year ago. Net debt rose to €1,357.6 million, but the company maintained financial flexibility with €1,104.7 million in cash and available credit lines.
Looking ahead, PUMA reaffirmed its full-year outlook. It expects currency-adjusted sales to decline in the low to mid single-digit range, with EBIT projected between €-50 million and €-150 million. Capital expenditure for 2026 is pegged at around €200 million, focused on digital infrastructure and DTC expansion.
PUMA chief executive officer Arthur Hoeld added, “For the remainder of the year, we will continue to focus on improving the quality of our distribution, cost base and cash management. In doing so, we are laying the foundations for future growth.”
With inventory clean-up ahead of schedule and operational efficiencies beginning to show, PUMA appears to be tightening its laces for a stronger run, even as macroeconomic and geopolitical uncertainties continue to test the track ahead.
