Pinault Family Mulls Puma Sale After Brand Loses Its Shine

Puma might soon be changing hands. The Pinault family — the French billionaires behind luxury giant Kering — is exploring options for the German sportswear label, including a possible sale, after Puma’s value got sliced in half over the past year, Bloomberg reports.

Sources familiar with the talks say the Pinaults, who hold a 29% stake through their investment arm Artémis, have tapped advisers and reached out to potential buyers. Among them: China’s Anta Sports and Li Ning, plus a few US sportswear companies and even Middle Eastern sovereign wealth funds. The family is reportedly looking for a premium if they do decide to sell.

Puma’s market cap has shrunk to around €2.6 billion ($3 billion), battered by weak consumer demand and fresh worries over US tariffs. The company issued a profit warning last month and has been struggling to reignite excitement around its products. A new CEO, Arthur Hoeld, is trying to engineer a turnaround, recently bringing in former Adidas veteran Andreas Hubert as COO.

Founded in 1948, Puma still has big sponsorships — Manchester City, Portugal’s national soccer team, and Denmark’s men’s handball squad, to name a few — but its performance hasn’t matched rivals. Last year, it pulled in €8.8 billion in sales and €281.6 million in profit. Whether that’s enough to tempt a buyer remains to be seen.

Anta, which owns brands like Fila and Jack Wolfskin, has shown it’s not afraid of big-ticket deals, while Li Ning, a Chinese sportswear heavyweight, could see Puma as a path to more global reach. For now, talks are ongoing and there’s no guarantee a deal gets inked.