Summary
- ANTA Sports is set to become PUMA’s largest shareholder after agreeing to buy a 29.06 percent stake from the Pinault family’s Artemis investment vehicle for around $1.8 billion USD in cash
- The deal lands just as PUMA battles slowing sales, muted sneaker hype and a strategic reset under CEO Arthur Hoeld, while ANTA doubles down on its multi-brand globalization play
- ANTA plans to seek supervisory board representation at PUMA but says it wants to respect the German brand’s independent identity rather than pursue a full takeover
ANTA’s move on PUMA is the clearest signal yet that the Chinese sportswear giant wants a permanent seat at the top table of global performance and lifestyle brands. Dropping €35 EUR (approx. $40 USD) per share, a hefty premium over PUMA’s recent trading levels, ANTA is effectively betting that the big cat is just sleeping, not dying, and that fresh capital plus sharper execution can reignite demand in a crowded sneaker market.
For PUMA, the Artemis exit closes a long-running chapter that started when the Pinaults carved it out of Kering to focus on pure luxury. The brand has been under pressure as momentum cooled across key franchises and launches like the Speedcat underperformed, forcing a turnaround plan built on brand heat, performance storytelling and tighter distribution. ANTA, fresh off years of flipping underloved Western labels into growth engines, is positioning this stake as a way to “fully unlock the brand’s full potential” while keeping PUMA’s governance and identity intact.
Strategically, the fit is obvious. ANTA gains deeper access to European sports credibility and powerful assets in football, running and motorsport, while PUMA gets a heavyweight partner in one of the world’s most competitive sportswear battlegrounds, China. If ANTA can transfer its Brand + Retail muscle and playbook from FILA, Descente and Amer Sports into PUMA without diluting its German DNA, this could reshape how East and West collaborate at scale in the performance-fashion space.
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