China’s Anta Sports offers to buy Pinault family’s 29% Puma stake, say sources
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Puma sales have fallen as shoppers opted for rivals such as Adidas, On and Hoka.
PHOTO: REUTERS
HONG KONG/LONDON – China’s Anta Sports Products has offered to buy 29 per cent of struggling German sportswear company Puma from France’s Pinault family, three people with knowledge of the talks said.
Anta made the offer a few weeks ago and has secured financing for the acquisition, should a deal go ahead, said two of the sources. But the situation had stalled, one added.
Artemis had been expecting any offer for its Puma stake to exceed €40 a share, a fourth person with knowledge of the matter told Reuters. All four sources spoke on condition of anonymity because the matter is private.
Artemis is run by billionaire Francois-Henri Pinault, chairman of Kering, which includes fashion house Gucci among its brands. The Pinault family acquired its Puma stake from Kering when it transformed the conglomerate into a pure luxury player in 2018.
Artemis and Puma declined to comment. Anta did not immediately reply to a request for comment.
Puma shares rose as much as 9 per cent after the Reuters report, hitting their highest level since May 2025 to trade at €24.6, LSEG data showed.
Puma’s market capitalisation was €3.3 billion (S$4.9 billion) at the Jan 7 close, down around 50 per cent from a year earlier as the brand faced a steep decline in sales.
Puma’s new chief executive Arthur Hoeld set out his turnaround strategy in October after sneaker releases such as the Speedcat failed to generate the hype executives hoped for, while sales have fallen as shoppers opted for rivals like Adidas, On and Hoka.
Hong Kong-listed Anta, which has a track record of acquiring and revamping Western sports and lifestyle brands, had been exploring a bid for Puma, a source close to the matter said in November. In 2019, it led a consortium to buy Amer Sports, owner of racquet maker Wilson and mountain sports specialist Salomon.
“We view the potential disposal of Artemis’ 29 per cent stake in Puma as incrementally positive for the Puma equity story, with potential new ownership that could support investments behind the brand, offer new perspectives and support the early stage turnaround strategy under new CEO Arthur Hoeld,” RBC analysts said in a note.
Artemis, which controls Kering as well as auction house Christie’s and Hollywood talent agency CAA, has been under investor scrutiny due to the debt it had built up as Pinault sought to diversify away from Gucci during a slide in luxury sales. REUTERS
