Puma has formally established a 100 percent owned subsidiary in Israel. It will begin operations next Jan. 1 under the management of Guy Daneman, and it will start opening Puma stores at strategic locations as of 2013. Grundman & Company, which has been representing the brand in Israel for more than 20 years, will continue to operate the Puma business until Dec. 31. Grundman is part of a group that also represents Avia, And 1, Under Armour and the brands of Sole Technology in Israel.

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