On January 27, Anta Sports Products Limited, the largest sportswear brand in the Chinese Mainland and a globally leading multi-brand sportswear group, announced that it has entered into a share purchase agreement with Groupe Artémis, the investment company of France’s Pinault family. Under the agreement, Anta will acquire a 29.06% equity stake in PUMA SE, the parent company of the iconic global sports brand PUMA, for a cash consideration of EUR 1.5 billion.
Anta stated that this move represents an important step in advancing the group’s globalisation strategy, and will enhance its influence, brand recognition and competitiveness in the global sportswear market.
The announcement also noted that Anta Group will prudently assess the possibility of further deepening cooperation between the two parties in the future, and that there is currently no plan to launch a takeover offer for PUMA.
The transaction is expected to be completed by the end of 2026, subject to approval by relevant regulatory authorities and the fulfilment of customary closing conditions. The funds for this equity acquisition will be fully sourced from Anta Group’s internal cash reserves.
PUMA produces performance-driven or sport-inspired lifestyle products across categories including football, running and training, basketball, golf and motorsports. Brands under the PUMA Group include PUMA, Cobra Golf and stichd.
According to the latest data, PUMA achieved global revenue of EUR 8.817 billion for the full year 2024, with cumulative revenue of nearly EUR 6 billion in the first three quarters of 2025. As a globally renowned brand with a 78-year history, PUMA’s deep heritage in football, motorsports and fashion-led sportswear precisely fills Anta Group’s gap in the crossover space between professional sports and fashion.
Following the acquisition, PUMA will form a clear, differentiated and complementary positioning with FILA, Anta Group’s flagship high-end fashion sports brand. FILA focuses on tennis, golf and Italian-inspired elegance, targeting refined middle-class consumers and urban white-collar professionals; by contrast, PUMA places greater emphasis on football, basketball, motorsports and German-influenced street culture, targeting Gen Z consumers and street culture enthusiasts. Together with DESCENTE and Kolon, PUMA and FILA will jointly build a full-scenario brand matrix spanning “professional sports + fashion sports + trend-driven sports + outdoor sports”.
In addition, the two sides demonstrate significant potential for synergy in both technology and distribution channels. PUMA’s proprietary technologies in biomechanics and sustainable materials, such as RE:FIBER recycled fibres, are expected to form synergies with Anta’s proprietary midsole technologies such as “Nitrogen Technology”. Meanwhile, PUMA’s mature distribution networks in Europe, North America and Latin America will provide strong support for the global expansion of Anta Group’s portfolio brands.
Ding Shizhong, Chairman of the Board of Directors of Anta Group, commented: “Becoming the largest shareholder of PUMA through this equity acquisition marks an important milestone in Anta Group’s continued advancement of its ‘single focus, multi-brand, globalisation’ development strategy. Anta’s M&A strategy has always focused on two types of opportunities: first, acquiring brands with strong brand value and DNA, and unlocking value through strategic transformation; second, investing in high-potential emerging brands. PUMA belongs to the former category and aligns with our investment philosophy of ‘not only buying well, but also managing well’.”
Ding further emphasised, “PUMA is a globally recognised brand with iconic significance and deep brand assets. We look forward to mutual learning and experience sharing with PUMA, working together to fully unleash its brand potential. This will further accelerate Anta Group’s globalisation process, promote the prosperity of the global sports industry, including in China, and create long-term value for global consumers and stakeholders.”
Anta Group has been deeply rooted in the sportswear industry for 35 years, using the Chinese market as its foundation and growth engine, where it has achieved industry-leading performance. At the same time, it has expanded across multiple key markets including Southeast Asia, the Middle East, Africa, North America and Europe. The group has successfully operated multiple international brands and accumulated extensive experience in multi-brand operations and brand value revitalisation, supported by its proven and distinctive “brand + retail” business model.
The PUMA brand is globally renowned for its strong historical heritage, with deep brand assets, global influence and extensive sports resources, particularly in football, running, training, basketball and motorsports. It holds a strong presence in key sports markets including Europe, Latin America, Africa and India. Anta Group’s brand portfolio and PUMA are highly complementary in terms of product mix, professional specialisation and regional footprint.
Addressing the strategic rationale behind the transaction, Ding Shizhong stated, “Anta has always valued the long-term value and potential embedded in the PUMA brand. Strong brand DNA and accumulated brand equity are rare. We believe that PUMA’s share price in recent months has not fully reflected its long-term brand value. We have confidence in its current management team and strategic transformation. Going forward, both sides will build deep trust, collaborate in areas of high strategic alignment, leverage complementary strengths, while maintaining independence, discipline and strategic clarity in their respective operations, to provide constructive support for the brand’s revitalisation.”
Anta Group fully respects PUMA’s management culture and its independent governance structure as a German listed company. Under the agreement, PUMA will continue to operate independently. Anta Group will hold seats on PUMA’s board of directors, participating in major strategic decision-making through the board to promote brand strategy reshaping and efficiency enhancement.
After completion of the transaction, Anta Sports intends to seek the appointment of suitable representatives to PUMA’s supervisory board, who will work closely with other supervisory board members and employee representatives, while remaining committed to preserving PUMA’s deep-rooted brand identity and DNA. The group will continue to prudently assess the possibility of further deepening cooperation between the two parties, and currently has no plan to launch a takeover offer for PUMA.
On January 9, Luxe.CO cited Reuters as reporting that Anta Group had proposed to acquire a 29% stake in the German sportswear brand PUMA from the Pinault family, the controlling shareholder of French luxury conglomerate Kering.
At the time, sources familiar with the matter told Reuters that Artemis, the Pinault family’s holding company, had initially expected an offer price of more than EUR 40 per share for its stake.
| Source: Official press release; Luxeplace historical reporting
| Image Credit: Brand official website
| Editor: LeZhi
