Puma
Herzogenaurach, Germany — the other Dassler brother. Sportstyle-leaning of the German pair.
Status: Watchlist
- Founded
- 1948
- Website
- puma.com
- HQ
- Germany
- Manufacturing
- Vietnam,China,Cambodia,Bangladesh,Indonesia,India
- Ownership type
- Public
- Status since
- 2026-07-28
Ownership
Public (FWB: PUM). Founded 1948 by Rudolf Dassler. Anchor shareholder in motion: ANTA Sports agreed on 2026-01-26 to buy Artémis' (Pinault family) full 29.06% stake for EUR 1.5B cash — sole buyer, Artémis exits entirely, pending regulatory approval, expected to close by end of 2026. ANTA says no full takeover planned and will seek Supervisory Board seats. ANTA already controls Amer Sports (Salomon, Arc'teryx).
Why Watchlist
Owns nothing — its own annual report draws the essay's line for us: PUMA designs and specifies, someone else manufactures. Ownership is the live variable: the pending ANTA purchase makes the acquirer of Salomon and Arc'teryx its largest shareholder. Watchlist with the ANTA close as the named checkpoint.
Reversibility
What would change our verdict
ANTA close and what follows: sourcing migration toward ANTA's supply chain, disclosure regression, or a full takeover bid — any of these forces an immediate re-review.
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