Anta Sports Marks A New China Led Era With A 29% Stake In Puma

China’s Anta Sports’ move to buy a major stake in Puma marks one of the most significant power plays yet between Chinese and European sportswear groups, with a $1.8 billion (€1.5 billion) deal that reshapes Puma’s shareholder base and Anta’s global profile. The agreement arrives as Puma works through a reset under new leadership, while Anta looks beyond China for long term growth.

A New Chapter in Control

Anta Sports has agreed to acquire a 29.06% stake in Puma from the Pinault family’s Artemis holding company, instantly becoming Puma’s largest shareholder. The French family originally received the stake when Kering spun Puma off in 2018 to concentrate on luxury.

Artemis has described the Puma holding as non strategic and is using the sale to refocus capital on assets it directly controls. For Anta, the move expands a playbook that already includes Amer Sports, owner of brands like Salomon and Wilson, as it builds a multi brand portfolio with international reach.

Price, Premium, and Timing

Anta will pay €35 per Puma share in cash, valuing the stake at $1.8 billion(€1.5 billion) and offering a roughly 62% premium to Puma’s previous closing price of €21.63. The deal is subject to antitrust and regulatory approvals, plus shareholder consent on Anta’s side, and is expected to close once those conditions are met.

The announcement lifted Puma’s stock sharply in early trading, while Anta shares also ticked higher, suggesting investors see strategic upside despite the rich premium. Anta has ruled out a full takeover, staying just under the 30% threshold that would trigger a mandatory bid under German rules, but has signaled it will seek board representation.

Strategy for Puma and Anta

The deal lands as Puma tries to regain market share after softer demand and slower than  expected reactions to recent sneaker launches, with new CEO Arthur Hoeld working on a turnaround plan focused on product focus, reduced discounting, and more targeted marketing. Anta has stated it believes Puma’s recent share price does not reflect the brand’s long term potential and has expressed confidence in the current management team.

For Anta, the investment is expected to help grow Puma’s presence in China while giving Anta deeper exposure to a global performance and lifestyle brand with a strong heritage in football, running, and motorsport. Analysts have noted Anta’s track record in acquiring and reviving Western sports and outdoor labels as a reason to take the long view on the move.

Looking Ahead

This agreement points to a more connected global sportswear landscape, where Chinese groups use capital and local scale to secure stakes in established Western brands rather than only building domestic labels. It also arrives in a slower, more competitive sneaker market, where brands are pushing for sharper positioning, cleaner inventories, and more disciplined pricing to protect margins.

For athletes, fans, and collectors, the short term impact will be less about immediate product changes and more about whether Puma can execute its turnaround and whether Anta’s involvement accelerates growth in key categories and regions without diluting brand identity. This is a long term governance and strategy story, not an instant shift in what lands on shelves.