Anta Sports becomes Puma's largest shareholder with $1.8 billion stake

Puma is facing increased market pressure following a sector-wide downturn triggered by disappointing revenue reports from competitor On Holding. On Holding reported quarterly revenue of $1.076 billion, missing market expectations of $1.11 billion, which led to a sell-off across the sportswear industry.

Puma's stock closed at 25.59 euros, marking a daily loss of 3.9%. Despite the volatility, the company maintained its EBIT forecast for 2026, projecting a range between -50 million and -150 million euros. In the second quarter, Puma saw a currency-adjusted revenue decline of 9.4% to 1.69 billion euros, though results were partially supported by 11.5 million euros in US customs refunds.

In a significant shift in ownership, the Chinese sportswear group Anta Sports Products became Puma's largest single shareholder in late July after acquiring a stake worth approximately $1.8 billion. This change in shareholder structure has prompted speculation regarding the company's long-term strategic direction.