Puma Seeks Breakthrough Through Sale... In Talks With US, Chinese Companies
The possibility of a sale of German sports brand Puma has been raised.
On August 25 (local time), Bloomberg News reported, citing sources, that the Pinault family, which holds a 29% stake in Puma through investment company Artemis, is considering options including selling Puma.
According to the sources, the Pinault family has reportedly approached Chinese companies such as Anta Sports and Li-Ning, as well as American sportswear companies and Middle Eastern sovereign wealth funds, to gauge their interest in acquiring Puma.
Following this news, Puma's share price surged nearly 20% on the German stock market that day, marking its biggest single-day gain since October 2001.
Puma, a sports brand founded in 1948, has struggled in recent years as it failed to attract consumer interest. New brands such as On Running and Hoka have been rapidly gaining ground, and long-time competitors Adidas and Nike are also recovering, further narrowing Puma's market position. As a result, Puma's stock price has halved over the past year. Its current market capitalization stands at approximately 3.2 billion euros (about 5.18 trillion won).
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In April, Puma appointed a new Chief Executive Officer (CEO) in an effort to reform its business structure. Last year, the company posted a net profit of 281.6 million euros and sales of 8.8 billion euros. Puma employs approximately 22,000 people worldwide.
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