Anta Sports of China Explores Potential Acquisition Opportunity

Puma CEO Arthur Hoeld, who was appointed on July 1, is tasked with reviving the ailing brand. His turnaround plan involves cutting jobs, narrowing its product range, and improving marketing operations.

“At the end of July, we stated that 2025 would be a year of reset,” Hoeld said in a statement on Oct. 30. “Since then, we have taken important steps to clean up PUMA’s distribution, improve our cash management and reset our operational expenses. By expanding our cost efficiency programme, we are moving quickly to address challenges and make the business more efficient and resilient.”

The company also said it is aiming to establish itself as a “Top 3 global sports brand,” as it reported quarterly sales that fell on a double digit basis.

Puma acknowledged that key challenges included a muted brand momentum, U.S. tariffs, and high inventory levels.

In July, the company cut its 2025 guidance, saying its now expecting a sales decline at a low double-digit percentage rate, from a previous guide of sales growth at a low- to mid-single digit percentage rate.

It also said it expects to post an operating profit loss in 2025 — a huge swing from the previously expected profit of between 445 million euros ($516 million) and 525 million euros — due to the impact of tariffs.

Puma’s biggest shareholder is currently Artemis which holds a 29% stake in the company. Artemis — the holding company of France’s billionaire Pinault family as well as the largest shareholder of Gucci-owner Kering — has been on a spending spree and has seen its debt balloon.

Artemis’ valuation expectations for Puma may be a major hurdle to any transaction involving the athletic brand, Bloomberg reported.

— Karen Gilchrist contributed to this report.