Chinese sportswear giant Anta Sports is making a bold move onto the global stage, intensifying competition with industry leaders Nike and Adidas. Anta Sports has agreed to acquire a 29.06% stake in Puma SE, the company behind the global sports brand Puma. The deal, valued at €1.5 billion ($1.7 billion to $1.8 billion), will make Anta Sports the largest single shareholder in Puma. The transaction is expected to close by the end of 2026, pending regulatory approvals and customary closing conditions.
This strategic acquisition is a major step in Anta's "single-focus, multi-brand, globalization" strategy. According to Anta Sports Chairman Ding Shizhong, Puma is an iconic global brand with substantial heritage and the company has always admired Puma's long-term brand value and potential. The company aims to leverage its complementary strengths with Puma, without compromising independence, to support the brand's ongoing revival.
Anta Sports has been strategically building a multi-brand portfolio, which includes Anta, Fila, Descente, Kolon Sport, Maia Active, and Jack Wolfskin. It also holds a stake in Amer Sports, which owns brands like Arc'teryx, Salomon and Wilson. In 2024, the Anta brand accounted for 47.3% of sales, Fila 37.6%, and all other brands 15.1%. The company has already established a strong presence in China, with a 23% market share, surpassing both Nike and Adidas.
Puma, headquartered in Herzogenaurach, Germany, distributes its products in over 120 countries and employs around 20,000 people worldwide. The brand has a strong foothold in fashion, football, and motorsports and has been actively driving regional growth through brand partnerships, particularly in Southeast and East Asia. However, Puma faced challenges in 2025, including leadership changes and layoffs. Anta's investment comes as Puma is in the middle of a turnaround, and Anta's board chairman, Ding Shizhong, expressed confidence in Puma's management team and strategic transformation.
Analysts view Anta's acquisition of a stake in Puma as a strategic move towards becoming a global multi-brand sportswear group. JPMorgan issued a research report stating that the acquisition is a critical step in realizing this vision and considered the price reasonable, given Puma's brand history, strengths in sports like football and running, and international market presence. The acquisition will be entirely funded by Anta Sports' internal resources, with the company's net cash reaching RMB 31.5 billion as of 1H25.
With this acquisition, Anta is signaling its intent to compete head-to-head with Nike and Adidas on a global scale. According to a Morningstar analyst, Anta’s founder aims for the company to become the biggest sportswear conglomerate in the world and has been strategically working towards that goal for over a decade.