If sportswear had a prestige category, it would be basketball sneakers.
A strong basketball business can grab shoppers’ attention and put a halo around a brand’s products.
Puma partnered with hip-hop mogul Jay-Z last year as it returned to the U.S. basketball market after being on sidelines for two decades. The category is a key part of its global strategy, despite it already being dominated by giants like Nike and Adidas.
“Partnering with Jay-Z made a lot of sense to us because we believe that basketball is the sport that most merges the worlds of culture, hip hop, art and fashion,” said Adam Petrick, Puma’s director of global brand and marketing, in an exclusive interview with CNBC….