China’s Anta Sports Products has submitted an offer to purchase the Pinault family’s 29% holding in German sportswear group Puma, reported Reuters, citing sources.

The proposal was made several weeks ago, and sources have commented that Anta has already arranged funding should the transaction move forward.

One source added that negotiations are currently not progressing.

The Pinault family's investment vehicle Artemis owns the stake in Puma.

Artemis had been looking for a price above €40 ($46.60) per share for its Puma holding. It is overseen by François-Henri Pinault, who also serves as chairman of Kering, the luxury group behind brands such as Gucci.

The Pinault family acquired the Puma stake from Kering in 2018, when Kering shifted its focus to operate solely as a luxury business.

Puma has been under pressure following a weaker sales performance, as consumers have increasingly turned to rivals such as Adidas, On and Hoka.

In October 2025, Puma CEO Arthur Hoeld set out a turnaround plan after several recent sneaker releases, including the Speedcat, failed to gain the anticipated traction with shoppers.

Hong Kong-listed Anta has a track record of buying and restructuring Western sports and lifestyle brands.

In 2019, Anta led a consortium that acquired Amer Sports, which owns brands including Wilson and Salomon.

A senior source close to Artemis said in September 2025 that the Pinault family was unwilling to divest its Puma stake at the market valuation at that time, while describing the holding as “non-strategic”.

Last month, Puma opened a new flagship store on Oxford Street, London, UK, which it described as its largest-ever in Europe. 

Located near Selfridges and Bond Street Underground station, the store covers an area of 24,000ft².