Puma’s largest stakeholder is exploring the possibility of selling the brand, which has struggled in the past year, according to a published report on Monday.
Bloomberg said the Pinault family, owners of 29 percent of the brand, has contacted potential buyers following a year of slumping sales that have taken a toll on Puma and knocked off nearly half of its market value.
Through its Artémis holding company, the Pinault family controls the biggest piece of Puma and is working alongside advisers with a scenario the involves unloading the brand.
The report notes that the family has already reached out to Chinese powerhouses Anta Sports Products Limited and Li Ning Company and is also considering Middle Eastern sovereign wealth funds in addition to fitness companies in the United States.
Puma in navigating through a challenging year that has seen stagnant sales impact its share price, lowered earning projects and a change in leadership.
Last month the company said it would would take a full-year loss in 2025, and that news sent shares tumbling in the wake of weaker sales. Puma also claimed the impact of U.S. tariffs were a key factor in the reduced outlook for the year. Net sales were also down in many key markets.
The forecast was a sharp contrast to analysts predictions as second quarter sales dipped 2 percent to $2.2 billion amidst $289 million in net losses. The company was predicted to pull in $2.5 billion in sales.
Puma initially said it would end the year bringing in at least $522 million — on the lower end — with a top prediction of $616 million.
On July 1, Arthur Hoeld, former Adidas’s sales chief, replaced Arne Freundt as Puma CEO in a move that the company described as “differing views on strategy execution” following a plan to eliminate around 500 corporate jobs worldwide.
The company now heads into the remainder of 2025 with new leadership, tepid sales and now its largest stakeholder apparently exploring a plan to offload the brand as it looks to stabilize itself against usual rivals like Nike and Adidas while contending with the growing popularity of upstarts like On.
Last year Puma reported about $329 million in net income last year and $10.3 billion in sales.
