Usain Bolt Ignite sales growth for Puma to $400 million
Usain Bolt has been with one brand his entire career: Puma.
These days, Bolt is endorsing the company’s Ignite XT training shoes with a new campaign dubbed “What are you training for?” It seems to have been a profitable deal for both Bolt and Puma.
Puma released a statement in July reporting that it had seen sales growth in all regions, driven by footwear. Sales of Puma’s running, training, and lifestyle shoes rose by 16.2% in the second quarter to about $400 million, according to Puma’s financial report as of June.
When Puma renewed its contract with Bolt in 2013, the Daily Telegraph reported he would be paid $10 million a year to promote the shoes through 2016.
Puma offered an extra $10 million incentive for another year in 2017 after rumors that the sprinter would be retiring after the 2016 Olympics.
Regardless of whether he competes, Bolt will continue to be paid $4 million a year as an ambassador to the Puma brand.