Puma is making some changes to its partnership with United Legwear Co.
According to the German sportswear brand, it has moved from a business partnership to a licensing agreement structure with its long-term partner for socks , underwear, children’s apparel and accessories. Financial details of the new licensing agreement with United Legwear were not disclosed.
Previously, Puma and United Legwear Company’s partnership, dubbed Puma United, focused on the sale of these products in the U.S. and Canada. As part of the partnership, Puma held a 51 percent capital share in Puma United. The products sold by Puma United were manufactured, transported, and stored by United Legwear and its suppliers.
As a result of this change, Puma United will be classified as a discontinued operation

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