Puma still hesitant about entering US traditional sports segment

Nuremberg, Germany (dpa) - German sports equipment maker Puma is still holding back on entering the lucrative traditional US sports market but is not ruling it out for the medium term, the company‘s top executive said on Monday.In remarks to the German business daily Handelsblatt, Puma boss Bjorn Gulden commented, "I have always said that the time is not yet ripe and that we first must lay the foundation with the traditional business, which means football, running, fitness studios, golf and sports lifetyles."However, the point is coming closer when Puma will also be involved with products for such US sports like baseball, basketball and American football, he told the paper.For the moment, Gulden said the situation for Puma is "not optimal" since, after Italy failed to qualify for the World Cup this summer, the company will have only two sponsored teams in Russia. But there was still some time before the World Cup starts up in June."Perhaps one or the other team will be added," he said in apparent reference to possible new equipment sponsorship deals. However, the company does not foresee very strong business in the area of football kit sales. "After all, we‘re missing the four-times world champions," Gulden said, referring to Italy.His remarks come after the majority Puma shareholder, the French luxury goods concern Kering, last week announced plans to sell most of its holding back to Puma. "We can now concentrate 100 per cent on what is best for Puma and will no longer need to think about a group or any synergies," he told Handelsblatt.