Chinese Sportswear Giants Eye Puma Takeover: Struggling Brand in the Spotlight

Chinese sportswear companies Anta Sports and Li Ning are considering a joint takeover of German brand Puma, whose market value has halved this year. With challenging negotiations ongoing with major shareholder Artemis, and amid intense competition in the sector, the future of Puma remains uncertain.

Chinese sportswear powerhouses, Anta Sports Products and Li Ning, are contemplating a takeover of Germany-based Puma, according to an inside source. The potential acquisition comes as Puma's market value has significantly dropped, complicating discussions with its largest shareholder, Artemis, owned by the Pinault family.

Should the acquisition proceed, the Chinese firms might partner with private equity funds. Puma shares surged by 15% after Bloombergs' initial report about the potential bid, although the shares still show a 56% decline from the year's start. Neither Anta Sports nor ASICS, mentioned as a possible bidder, have commented so far.

Artemis is reviewing its 29% stake options, but sources indicate they are hesitant to sell at current prices, hoping for a successful turnaround under the new CEO, Arthur Hoeld. Despite fierce competition from rising brands, Hoeld has laid out a recovery strategy for Puma, targeting profitability in 2027.

(With inputs from agencies.)