|Lifestyle Brands Are Growth Drivers at VF Corp : Research Lifestyle Fashion Brands|
In an article by Alexander Chernev June 2011 he states, "Puma's emphasis on lifestyle is a major departure from its original concentration on soccer shoes and other high-performance athletic equipment -- a positioning solidified by endorsements from superstar athletes the likes of soccer legends Pele and Maradona. Now, instead of continuing its tradition of designing and manufacturing high-end athletic gear, Puma is looking to broaden its product line by focusing on leisure pursuits rather than professional sports products. More important, Puma is shifting away from stressing functional performance toward touting its products as a lifestyle choice." Further in the article Mr. Chernev goes on to say, "Conventional wisdom would argue that a company's switch to lifestyle branding should have the greatest impact on its direct competitors. In Puma's case, this means that its repositioning will have the biggest effect on its direct rivals in the sports gear market, including Adidas and Nike. By effectively removing itself from the market in which brands compete on functionality, Puma might have made life a bit easier for Adidas and Nike."
Read the full article Pros and Cons: Should You Embrace Lifestyle Branding? athttp://adage.com/article/cmo-strategy/marketers-puma-embrace-lifestyle-branding/228028/
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