Puma was founded in 1924 by brothers Adolf and Rudolf Dassler. In 1948, Rudolf left to start his own company called Puma while Adolf started Adidas. In 1974, Armin Dassler took over Puma and in 1989 it was sold to Cosa Liebermann. Puma owns various brands and has expanded into many product lines including footwear, apparel, and accessories. The company has collaborated with designers like Alexander McQueen and uses brand ambassadors to promote its products in areas like football, running, and cricket. Puma focuses on strategies like product diversification, advertising, online sales, and corporate social responsibility to gain competitive advantages over rivals like Adidas and Nike.