Reported interest from Anta sparks nearly 19% rally as Puma battles falling sales and mounting pressure
Puma shares soared after reports emerged that China’s Anta Sports was exploring a takeover bid, injecting new energy into the struggling German sportswear giant.
Shares Spike After Takeover Rumors
Puma’s Frankfurt-listed shares jumped as much as 18.9% on Thursday following a Bloomberg report stating that Hong Kong-listed Anta Sports is evaluating a possible acquisition. After months of decline and hitting a decade-low earlier in November, investor confidence briefly recovered as markets responded to speculation about fresh ownership.
The potential takeover comes at a time when Puma has lost more than half of its value this year and more than three-quarters over the past five years. The company has been struggling with weakening brand momentum, rising tariffs, and high inventories.
Anta Eyes Western Expansion
For Anta Sports, acquiring Puma could serve as a gateway to expanding deeper into Western markets. Analysts note that Anta has a strong track record of reviving underperforming assets, including its stake in Amer Group. However, the financial and strategic value of adding Puma remains uncertain, given Anta’s already diversified international portfolio.
Bloomberg also reported that Anta may partner with a private equity firm should it proceed with a bid. Anta has not responded to media inquiries, while Puma has declined to comment.
Other Potential Bidders Circle
Puma has also been linked to interest from Chinese sportswear giant Li Ning and Japanese firm Asics. Li Ning stated that it has not engaged in any negotiations related to a transaction and remains focused on its core strategy. Asics has not commented on the matter.
Any takeover discussions may face obstacles, particularly from Artemis, Puma’s largest shareholder with a 29% stake. As the holding company of the Pinault family, Artemis has high valuation expectations that could complicate negotiations.
Puma’s Reset Amid Mounting Challenges
CEO Arthur Hoeld, appointed on July 1, has been tasked with reviving Puma during one of its most difficult financial periods. The company has entered what it calls a reset year for 2025, implementing aggressive cost-cutting measures, narrowing its product range, and strengthening marketing operations.
In October, Puma announced 900 job cuts, adding another 500 layoffs earlier in the year, as it attempts to restore profitability and improve operational efficiency. The company also signaled that it expects a double-digit sales decline and an operating loss for 2025, a significant shift from earlier profit projections.
Tariffs and Slow Branding Response Weigh Heavily
Puma continues to face heavy pressure from U.S. tariffs targeting goods produced in China and Vietnam, key manufacturing hubs for the brand. These tariffs have eroded margins and worsened financial uncertainty.
Analysts have also criticized Puma for reacting too slowly to the retro sneaker trend. While Adidas capitalized early with its Gazelle and Samba lines, Puma only recently pushed models like Palermo and Speedcat, limiting its competitive momentum.
Road to 2027 Turnaround
Despite its current challenges, Puma aims to regain growth by 2027. Management says it is accelerating cost-efficiency programs and restructuring operations to build a stronger, more resilient business model. Still, the company acknowledges that sector-wide volatility and shifting consumer preferences will continue to drag performance in the near term.
Anta’s reported interest offers a glimmer of hope for Puma as it navigates one of the toughest chapters in its history. For both Indonesian and Singaporean investors observing the global sportswear market, the potential deal highlights shifting power dynamics and growing Asian influence in Western athletic brands.
Sources: CNBC (2025) , Euronews.com (2025)
Keywords: Puma Shares Surge, Anta Takeover Interest, Sportswear Competition, Arthur Hoeld Strategy, Li Ning Potential Bidder, Asics Market Moves
