Supply chain issues would mean a shortage of Puma products for the near future. Compounded by higher costs of raw materials, could feed through to higher prices in the second half of 2022.

The German sportswear company expects that factory closures, compounded by shipping constraints, will hit its product supplies. This is exacerbated by port congestion and a lack of shipping capacity. Puma also expects sales in China to continue to be impacted by lockdowns and consumer boycott of Western brands triggered earlier this year by a political row.

Factories in Vietnam, a major supplier to the footwear industry, were closed for nearly two and a half months due to Covid, though they are expected to resume full production by the end of November. Puma makes a third of its products in Vietnam. Puma’s third-quarter earnings confirm a brand in rude health in western markets. Sales fell 16 per cent in Greater China due to ongoing lockdowns there and the impact of a consumer boycott.

Puma increased its forecast for full-year currency-adjusted sales growth to at least 25 per cent from a previous outlook of at least 20 per cent and the company eventually hopes to double its annual sales to more than ten billion euros.