Anta Sports Products Limited has completed the acquisition of the 29.06% stake in Puma previously held by Artémis, the investment holding company controlled by the Pinault family. The Chinese group thus becomes the leading shareholder of the sportswear maker, based in Herzogenaurach, Germany.
Anta Sports had announced its intention to acquire this stake for around €1.5 billion. Concretely, around 43 million Puma shares changed hands at a price of €35 each. Artémis was thanked for its support and contribution during its time as a shareholder.
Despite this capital change, Puma will continue to operate as an independently managed company. Anta Sports confirmed its support for the governance, brand identity and corporate culture of the German group.
An ongoing restructuring
The transaction comes as Puma goes through a marked turnaround phase. In the second quarter of 2026, revenue fell by nearly 10% to close to €1.7 billion, while the adjusted loss before interest and taxes widened to €41.9 million, compared with €24.5 million a year earlier. The net loss, however, fell by more than 70% to €72.8 million, thanks to significantly lower exceptional costs. For the 2025 financial year, Puma had recorded a record net loss of €645 million, on annual sales down 13%, which had led the company to announce « mesures drastiques » to turn around its business.
The restructuring plan calls for a greater focus on core sports, a reduction in the number of products, the development of direct-to-consumer sales, a reduction in inventory and the closure of unprofitable stores. In total, 1,400 jobs are expected to be cut. These measures are expected to deliver a return to sustainable growth from 2027 onward, with Puma describing 2026 as an « année de transition ».
The turnaround comes alongside a management reshuffle: former Adidas executive Laurent Fricker has joined Puma as Head of Sportstyle, while Dennis Schröder has been appointed Managing Director for Europe.
« Puma a bâti l'une des marques de sport les plus renommées au monde, forte d'une histoire riche, d'une grande crédibilité dans le milieu sportif, d'une présence mondiale, d'innovations de pointe et de partenaires solides. Nous accueillons Anta Sports comme notre principal actionnaire. Pour nous, cet engagement à long terme est une immense marque de confiance envers notre stratégie, notre équipe de direction et notre avenir », said Arthur Hoeld, PDG of Puma.
On the Anta Sports side, which is committed to its ambition of becoming one of the world's three largest sports brands, the tone is similar. « Puma est une marque emblématique avec une riche tradition et un potentiel considérable à long terme. Nous avons une confiance totale dans l'équipe de direction et l'orientation stratégique », said Ding Shizhong, chairman of the board of Anta Sports.
For the third quarter, Hoeld first expects a further decline in revenue, but revenue and operating result should improve compared with the second quarter. For the full year, Puma confirmed its guidance.
