Puma Joins Exodus From Greece

pumaThe noted athletic shoe and sporting goods company Puma said it’s giving up on Greece too, joining companies such as Coca-Cola – the country’s biggest – and the giant dairy Fage in fleeing the fiscal crisis and high taxes for other lands. Hundreds of other smaller businesses have also abandoned Greece, with many going to neighboring Bulgaria.

The German company is also shutting down operations in Bulgaria as well as Cyprus, where the island’s economy is on the verge of collapse as the country’s leaders are seeking an international bailout similar to Greece’s.

Sportswind will distribute the trademark from now on to the three companies in an agreement which limits the risk in the three countries and in hopes of improving sales.

In announcing its balance sheets for 2012, Puma said it would restructure and close down 90 non-profitable stores and the company is looking toward other emerging markets that don’t have the same financial problems that are besetting a number of Europe’s weaker economies.

Puma announced liabilities of 42.6 million euros for the fourth quarter of 2012 compared to a profit of 33.1 million euros in the same period a year before. Greeks have cut back sharply on spending in the wake of deep pay cuts, tax hikes and slashed pensions demanded by international lenders in return for rescue loans.


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  • Mental retard Kosta

    I guess Puma is angry because Greeks choice of sporting line is ‘Nike’.

    That’s what happens when you are cheating traitors.

    Now, give me some Mythos beer

  • Choralife

    Like all major sporting brands, Puma are stupidly over priced for something that is made in Asia for next to nothing. A rip-off. 

  • Alex

     Hey Skopian…. why do you pretend to care about Greeks?

  • Alex

     How many handles are you using on this website Skopian? Are you communicating with other Skopians in the background as you troll us? Can you answer without lying again?

  • Alex

    I can hardly blame them. Who would want to do business in a country constantly disrupted by far leftist and anarchist riots.. Why risk capital when 30 percent of the population are communist thieves that have no concern whatsoever for private property. Its safer to invest in other countries for as long as our extremists keep lawlessly disrupting our economy with strikes and violence.

  • Alex

     Incidentally Skopian(s)… I find it funny you keep claiming I am “Kosta” when I have never gone by the handle “Kosta”! My best guess is whomever the person you are referencing is another Greek patriot that isn’t fooled by your false flag games.

    Why do you need to try and fool posters online Skopian?

  • Cypriot

    Is this a sign of our weak economy or their weak business? Both I suppose.

  • Inbred Kosta

    Stop lying my ill’ Oglou. You will NEVER be Alex

  • Alex

    Briliant comeback Skopian. You are a pure racial descendent of ancient Macedonians… i.e. self-identifying Greeks…. whereas the ones that speak Greek have nothing to do with them.

    Out of curiousity though what did your great national hero Krste Misirkov mean by these words?

    “We are
    Bulgarians, more Bulgarians than the Bulgarians in Bulgaria
    themselves.”

    ‘And, anyway, what sort of new Macedonian nation can this
    be when we and our fathers and grandfathers and great-grandfathers have always
    been called Bulgarians?”

  • Alex

    I have never gone by the handle “kosta” you paranoid moron. Keep  using it in your various handle names though. It just further emphases what an idiot you are.

  • Alex

     You are the liar here Skopian. What’s with the constant attempts to portray yourself as a Greek? Whats with your government recent attempts to rebrand yourselves into ancient Macedonians? Are you ashamed of your Bulgarian heritage?

  • Alex

    “made in Asia for next to nothing.”

    Which is why Puma (and other companies) are cutting jobs in more expensive labour places like Greece. (especially with all the political instability) Businesses are in the business of making money not losing it.

    The way to turn things around for jobs in Greece in the short term is by bring back political stability by tending these constantly pointless leftist strikes and riots and accepting lower wages. Cheap labour gives businesses a profit incentive to invest in Greece as a backdoor to other EU markets.

    Over the long term (which will take decades) we can work for higher pay but it can only happen if Greece adjusts its economy from agricultural-tourist towards a technological-industrial based one.  With technology one can compete with low paying countries because a skilled worker can produce much more than unskilled worker. (as well as create products an infinite number of unskilled workers cannot)

  • Alex

     I know I care about Greeks as they are my neighbours and also joined in the Olympiad with Philip and the founders of the Macedonians, hence Greece and Macedonia should be brothers not fighters.

  • Alex

     Just as I am ashamed of not actually living in Greece.

  • Alex

     In fact you are lucky to have such a heritage as I don’t believe anyone in this region can be pure racial descendants of anyone 2,500 years ago, it’s not genetically possible and has been scientifically proven so. So hence you’re not Bulgarians either, make up your minds my Macedonian brothers.