Anta Sports Bid for Puma Stake Faces Uncertainty

january 9, 2026 – Chinese sportswear giant Anta Sports Products has reportedly made an offer to acquire a 29% stake in German athletic footwear adn apparel company Puma from teh French Pinault family. While the potential deal initially boosted Puma’s stock, negotiations appear to have stalled, raising questions about the future of the proposed acquisition.

Anta Sports’ Interest in Puma

Anta Sports, traded on the Hong Kong Stock Exchange, has demonstrated a strategic interest in expanding its global footprint through acquisitions. The company previously expressed consideration of a Puma takeover as early as November [1]. This interest aligns with Anta’s successful track record of acquiring and revitalizing Western sports brands,notably its 2019 acquisition of Amer Sports,which includes brands like Wilson and Salomon [1].

The Artemis Stake and Potential Deal Value

The 29% stake in Puma is currently held by Artemis, the investment firm of the Pinault family, who also control the luxury goods group Kering (owner of Gucci and Saint Laurent). Artemis initially acquired the stake in 2018 when Kering shifted its focus towards luxury brands [1]. Sources indicate Artemis anticipates an offer exceeding €40 per share for the stake.

Market Reaction and Current status

News of Anta’s offer caused a significant surge in Puma’s stock price, rising as much as 9% to €24.60 following the initial reports [1]. However, reports suggest negotiations have stalled, casting doubt on the deal’s completion. As of today, neither Anta Sports nor Puma have publicly commented on the status of the offer. Artemis has also declined to comment [1].

Puma’s Financial Performance and Potential Benefits of a Deal

Puma’s market capitalization stood at €3.3 billion as of Wednesday, representing a 50% year-on-year decrease largely attributed to declining sales [1]. Analysts at RBC suggest that a change in ownership could positively impact Puma, perhaps leading to increased investment in brand growth, a fresh strategic outlook, and support for the company’s ongoing transformation under CEO Arthur Hoeld, who assumed the role in July [1].

Anta Sports: Beyond the Bid

Beyond this potential acquisition,Anta Sports continues to strengthen its position in the athletic apparel market.The company also has a significant partnership with NBA star Kyrie Irving, featuring the ANTA KAI 3 signature shoe line [3]. Anta shoes are known for their modern aesthetic and appeal to both streetwear enthusiasts and young athletes, with a particular focus on basketball and running [2].