Chinese Giants Anta and Li Ning Eye Struggling Puma for Potential Takeover

Chinese sportswear giants Anta and Li Ning are considering a potential bid to acquire struggling German brand Puma, whose market value has halved this year. Market dynamics pose challenges to the deal with Artemis, Puma's largest shareholder. Puma aims for recovery under new CEO Arthur Hoeld.

Chinese sportswear companies Anta Sports Products and Li Ning are evaluating a potential bid for the embattled German brand Puma, signaling a major shakeup in the sportswear industry. Despite the challenges posed by Puma's halved market value and the complexities of a deal with major shareholder Artemis, the companies are pressing forward with their interest.

The bid, potentially in collaboration with private equity firms, has boosted Puma's shares by 15%. Notably, Japanese sportswear company ASICS, initially rumored to be interested, has since denied any involvement. Meanwhile, Li Ning has clarified it has not engaged in any significant talks regarding the acquisition.

Puma's prospects hinge on a bold turnaround strategy under new CEO Arthur Hoeld, amid fierce competition and shrinking market share. With a current valuation of 2.52 billion euros, Puma aims to stabilize by 2026 and return to growth the following year, though analysts remain cautious about the plan's effectiveness.

(With inputs from agencies.)