Puma mentioned recently that it is undergoing a major ‘reset’ as sales have collapsed post-pandemic|Tokumeigakarinoaoshima|CC0 1.0
Struggling German sportswear brand Puma’s shares jumped 18.9% on Thursday as news spread that China’s Anta Sports, which owns Fila and Jack Wolfskin, is considering a bid for it.
Puma recently announced it is undergoing a major “reset” amid post-pandemic sales declines, high inventories, and tariffs that have weighed on demand.
New CEO Arthur Hoeld is pushing a turnaround plan centered on job cuts, a slimmer product lineup, and improved marketing.
The stock had recently hit a 10-year low, with losses exceeding 50% year-to-date.
Neither Puma nor Anta has confirmed the actions. Bloomberg reports that Chinese apparel firm Li Ning and Japan’s Asics Corp are also interested.
Puma’s largest shareholder is Artemis, which holds a 29% stake. It is the holding company of French billionaire and Gucci owner, François-Henri Pinault.