The Pinault family is weighing strategic options for German sportswear brand Puma SE, including a potential sale, after the company’s market value was cut nearly in half over the past year, according to people familiar with the matter.
The French billionaire family has brought on advisers and reached out to prospective buyers, including China’s Anta Sports Products Ltd. and Li Ning Co., the sources said, requesting anonymity as the discussions remain private. In addition, several US-based sportswear firms and sovereign wealth funds from the Middle East have been approached.
Through their holding company Artémis, which also controls French luxury group Kering SA, the Pinaults currently hold a 29% stake in Frankfurt-listed Puma. Any sale would likely demand a significant premium, the sources noted.
Puma’s shares have fallen by 50% in the past 12 months amid softening demand for sports apparel and concerns over US tariffs. The company’s market capitalisation now stands at about US $ 3 billion. Sources cautioned that the talks are ongoing and may not result in a transaction.
Puma is in the midst of a strategic overhaul led by Chief Executive Arthur Hoeld, who has been tasked with reviving consumer demand. However, the company issued a profit warning last month, underscoring the difficulties ahead.
As part of the restructuring, Puma recently appointed former Adidas executive Andreas Hubert as chief operating officer. Hubert, who spent two decades at Adidas, previously served as chief information officer.
In its most recent financial year, Puma reported net income of US $ 323 million and annual sales of US $ 10.1 billion. The company employs around 22,000 people worldwide and maintains high-profile sponsorships with Premier League club Manchester City, the Portugal national football team and Denmark’s men’s handball team.
Potential suitor Anta controls a portfolio of brands including Fila, Descente, Kolon Sport and Jack Wolfskin. In 2019, it led a consortium that acquired Amer Sports — maker of Wilson tennis rackets and Louisville Slugger baseball bats — for US $ 5.3 billion.
Li Ning, founded in 1990 by the former Chinese gymnast of the same name, markets athletic and lifestyle footwear, apparel and accessories. Beyond its core label, the group manages or licenses brands including Double Happiness (table tennis), Aigle (outdoor gear) and Kason (badminton equipment).
