Chinese sportswear company Anta Sports Products has made an offer to purchase 29% of Puma from France’s Pinault family, Reuters reports.
The bid was made a few weeks ago, and Anta has secured financing for the deal if it proceeds, two sources added. However, one source said negotiations have stalled.
Artemis, the investment vehicle of Francois-Henri Pinault, chairman of Kering, which owns Gucci, acquired the Puma stake in 2018 when Kering shifted to focus exclusively on luxury. Artemis and Puma declined to comment, and Anta did not respond immediately.
Puma shares jumped as much as 9% following the news, reaching €24.6, their highest level since May 2025. The brand’s market value is around €3.3 bn, roughly half its value a year ago, as sales have slumped amid competition from Adidas, On, and Hoka.
New Puma CEO Arthur Hoeld outlined a turnaround plan in October after products like the Speedcat sneakers failed to generate the expected market excitement. Analysts at RBC said a sale of Artemis’ stake could provide fresh investment and support the early-stage recovery under Hoeld.
Anta has a history of acquiring and revitalising Western sports brands, including its 2019 acquisition of Amer Sports, which owns Wilson and Salomon. Investor attention on Artemis has increased in recent years due to debt accumulated as the Pinault family diversified away from Gucci during a slowdown in luxury sales.
