Puma CEO Cites $260 Hyrox Sneaker as Early Step in Turnaround

For Puma SE Chief Executive Officer Arthur Hoeld, much of the first months on the job has been an exercise in shrinking: laying off hundreds of staff, buying back unwanted sneakers from retail partners and preparing investors for more losses.

Yet Hoeld is eager to highlight one area where the brand is gaining ground: training, which he recently elevated into a separate business unit. Last week, Puma unveiled its highest-profile product yet in the segment, the $260 Puma X Hyrox Deviate Nitro Elite sneaker, designed for the rigors of the increasingly popular fitness competition.