China-based sporting goods company, Anta Sports Products, has proposed to purchase a 29% stake in Puma, the struggling German sportswear manufacturer, from the French Pinault family, according to insiders familiar with the negotiations.
Anta Sports submitted their bid several weeks ago and has already arranged financing for the prospective acquisition, two of the sources disclosed. However, one source noted that negotiations have reached a stalemate.
The Pinault family’s firm, Artemis, managed by François-Henri Pinault, Chairman of Kering, had been expecting bids for its Puma shares to surpass 40 euros each, said a fourth insider. The Pinault family originally obtained their shares in Puma from Kering as part of a conversion of the conglomerate into a luxury-focused entity in 2018.
When approached for comments, both Artemis and Puma declined. A response from Anta is still pending.
Following this news, Puma’s shares increased by up to 9%, reaching their highest value since May 2025, trading at 24.6 euros. Despite this, Puma’s market cap was 3.3 billion euros (US$3.85 billion) at the close of trading on Wednesday, a drastic 50% decrease from the same time the previous year due to a severe drop in sales.
Arthur Hoeld, Puma’s newly-appointed CEO, revealed his recovery strategy in October following disappointing sales of releases like the Speedcat and a general decrease in revenue as customers favoured competitors such as Adidas, On, and Hoka.
Anta, a Hong Kong-listed company with a history of acquiring and rejuvenating Western sports and lifestyle brands, has been considering a bid for Puma, a source revealed in November. In 2019, Anta led a consortium to buy Amer Sports, the owner of iconic brands like Wilson and Salomon.
Analysts at RBC have stated that the potential sale of Artemis’ 29% stake in Puma could prove beneficial for Puma’s equity story. New ownership might increase investments in the brand, provide fresh insights, and support the early stages of Arthur Hoeld’s turnaround strategy.
Artemis controls Kering as well as auction house Christie’s and Hollywood talent agency CAA. It has faced investor scrutiny due to the debt it accumulated as Pinault sought to diversify away from Gucci during a dip in luxury sales. A senior source close to Artemis noted in September that the Pinault family would not sell their Puma stake at the then-current market valuation but admitted the stake was “non-strategic”. Since then, Puma’s shares have increased by 15%.
Who has proposed to purchase a stake in Puma?
Anta Sports Products, a China-based sporting goods company, has offered to buy a 29% stake in Puma.
What is the estimated value of the Puma shares?
Artemis, the Pinault family’s firm, had expected bids for its Puma shares to surpass 40 euros each.
What has been the recent performance of Puma in the market?
Puma’s market capitalization was 3.3 billion euros (US$3.85 billion) at the close of trading on Wednesday, which is a 50% decrease from the same time last year due to a severe drop in sales.
