ANTA Sports has agreed to acquire a 29.06 percent stake in PUMA, positioning the Chinese sportswear group as the German brand’s largest shareholder. The transaction, valued at approximately €1.5 billion (approximately $1.79 billion USD), will see ANTA acquire the shares of Artemis, the Pinault family’s investment vehicle.
The deal is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions. ANTA confirmed that the acquisition will be fully financed from its internal cash reserves.
A strategic entry, not an acquisition
China’s Anta Sports has agreed to buy a roughly 29% stake in Puma for $1.8 billion, making it the German sports brand’s largest shareholder. https://t.co/Q1kZflitSB
— Bloomberg (@company) January 27, 2026
ANTA Sports made it clear that the investment is not intended as an acquisition. While the company intends to seek appropriate representation on PUMA’s supervisory board, it has stated that it fully respects PUMA’s independent board, management culture and identity as a German listed company.
In an official statement, ANTA emphasized that its role will be collaborative rather than supervisory, in line with its many years of existence “single focus, multi-brand, globalization” strategy. The company has taken a similar approach to other international brands in its portfolio, maintaining brand autonomy while providing operational and retail support.
Why PUMA and why now?
The ANTA Sports PUMA transaction comes at a crucial time for the German sportswear brand. PUMA has seen slowing growth in recent quarters, along with weaker demand in parts of the global sneaker market. The company is currently undergoing a strategic reset under CEO Arthur Hatwith renewed focus on performance categories, brand stories and distribution discipline.
For Artemis, the sale marks the end of a long ownership chapter. The Pinault family retained PUMA after spinning it off from Kering years ago to focus on luxury businesses. By exiting the company now, Artemis can reallocate capital elsewhere, while PUMA gains a financially strong long-term partner.
How ANTA benefits from the Puma deal
ANTA Sports adds PUMA to its already diverse brand portfolio, including FILA, Salomon, Wilson, Arc’Teryx and more ✍️ https://t.co/a9LIsD6WUN pic.twitter.com/uC4Xpq6Feb
— Nice Kicks (@nicekicks) January 27, 2026
For ANTA Sports, becoming PUMA’s largest shareholder strengthens its position as a global sportswear heavyweight. The group will gain greater exposure to European sports culture and PUMA’s established presence in football, running, motorsports and lifestyle footwear.
ANTA has steadily expanded its global footprint in recent years, with operations in Southeast Asia, the Middle East, Africa, North America and Europe. His experience managing international brands – including FILA, Descente and Amer Sports – has shaped a business model focused on brand positioning, retail execution and long-term value creation.
PUMA’s commitment fits squarely within that playbook and provides strategic influence without diluting the brand heritage.
Representation on the Board of Directors and brand independence
As part of the agreement, ANTA plans to nominate representatives to PUMA’s board of trustees. These representatives will work with existing shareholders and employee-appointed board members, in line with the German corporate governance framework.
ANTA has explicitly stated that maintaining PUMA’s brand DNA remains a priority. The company recognized PUMA’s heritage, design language and market positioning as core strengths that should not be disrupted by changes in ownership.
A broader signal for the industry
The ANTA Sports PUMA deal reflects a broader shift in the global sportswear landscape, where Asian companies are no longer just manufacturing partners or regional players, but influential stakeholders in legacy Western brands.
Rather than pursuing outright acquisitions, ANTA’s minority stakes approach signals a preference for partnership-led globalization. It also highlights how capital, operational expertise and market access are increasingly shared between regions in the modern sportswear economy.
Pending regulatory approval, the transaction is expected to close before the end of 2026. Until then, PUMA will continue to operate independently, while ANTA prepares for a more formal role at board level.
If the partnership is executed as outlined, it could transform the way global sportswear brands collaborate across markets – without erasing the identities that made them relevant in the first place.
Featured image: Anta
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