The global sportswear landscape shifted significantly on January 27, 2026, as China’s largest athletic brand, Anta Sports Products, announced a definitive agreement to become the primary shareholder in German icon Puma SE. The deal involves Anta acquiring a 29.06% stake from Artémis, the investment vehicle of the billionaire Pinault family, for approximately 1.51 billion euros. By offering 35 euros per share in cash, Anta paid a massive 62% premium over the market’s previous closing price, a move that immediately signaled its aggressive intentions to expand its influence far beyond the Asian market.(Reuters).
This acquisition comes at a time when Puma has been struggling to find its footing under CEO Arthur Hoeld. The German brand has faced stagnant sales and a lack of market momentum, with high-profile product launches failing to close the gap between itself and larger rivals like Nike and Adidas. Anta, however, sees this as a strategic opportunity rather than a risk. The Chinese firm has a proven track record of acquiring struggling or niche Western brands and transforming them into powerhouses. Their success with Fila in China and the recent growth of Amer Sports, which includes brands like Salomon and Arc’teryx, serves as the blueprint for this new venture. Anta executives have specifically identified that Puma is currently underrepresented in the Chinese market, which accounts for only 7% of its global revenue, and they intend to use their regional infrastructure to bridge that gap.
For the Pinault family, the sale represents a strategic exit from an asset they have long categorized as non-strategic to their core luxury interests. Artémis, which also controls the luxury giant Kering, will use the 1.8 billion dollars in proceeds to reduce debt and focus resources on its high-end fashion portfolio. While the Pinault family steps back, Anta has made it clear that they do not intend to pursue a full takeover of the company. Instead, they plan to secure seats on Puma’s board and work alongside existing management to stabilize the brand’s finances and revitalize its product appeal.
PUMA SE acknowledges that ANTA Sports has agreed to acquire a 29.06% stake in the company. (…) ANTA aims to empower PUMA to fully realise its brand potential and its heritage to create long-term value for global consumers and stakeholders. We see this as a vote of confidence in PUMA and its strategic direction.” – commented Puma’s CEO Arthur Hoeld.
The deal remains subject to antitrust clearances and regulatory approvals in various jurisdictions, including China. Despite the market’s initial enthusiasm, which saw Puma’s shares surge nearly 17% following the announcement, analysts note that the company remains a restructuring case in the short term. The partnership shows a new era for Puma, one where its future growth is inextricably linked to the operational expertise and financial muscle of a Chinese leader. As the sportswear industry continues to consolidate, this $1.8 billion move places Anta Sports at the center of the European market, challenging the traditional hierarchy of global sports fashion.