German sportswear maker Puma has attracted interest from multiple Asian competitors as the struggling brand’s share price languishes near a ten-year low.
Chinese sportswear giant Anta Sports is exploring a takeover of German brand Puma and has already hired advisers to help with the process, according to Bloomberg. Other potential bidders include Chinese rival Li Ning and Japanese manufacturer Asics, making this a competitive race for the struggling German heritage brand.
Puma shares jumped 11.5% in pre-market trading on the news. The company’s market value currently stands at around €2.5 billion, but shares have lost nearly two-thirds of their value this year alone, closing near a ten-year low.
The key to any deal lies with French billionaire François Pinault’s holding company Artemis, which owns 29% of Puma. Artemis has described its Puma stake as “non-strategic” but doesn’t want to sell at current market prices, creating a potential sticking point for interested buyers.
Li Ning has downplayed the speculation, stating it has “no substantial negotiations” underway and remains focussed on its own growth strategy. However, this isn’t the first takeover speculation around Puma this year — Bloomberg reported similar interest from Chinese buyers over the summer.
The potential sale would mark another German heritage brand moving into foreign ownership as Puma struggles with falling share prices and market challenges in the competitive sportswear sector.
Following the report, Puma shares rose 11.5% in pre-market trading. At €17, they closed on Wednesday near a ten-year low—representing a market capitalisation of just over €2.5 billion. This year alone, they have lost almost two-thirds of their value.
Updated at 8:40 a.m. CET November 27, 2025
