Shares of Puma SE, the German sportswear giant, soared by nearly 18% on Monday, August 25, 2025, following a Bloomberg report that the Pinault family’s holding company, Artemis, is exploring options for its 29% stake in the company, including a potential sale. The news sparked optimism among investors, driving Puma’s stock price to €22.16, a significant rebound from its earlier low of €17, the lowest since 2016.
Artemis, controlled by the billionaire Pinault family, also owns a controlling stake in Kering, the luxury conglomerate behind brands like Gucci, Saint Laurent, and Balenciaga. The family acquired its 29% stake in Puma in 2018 after Kering restructured its portfolio to focus exclusively on luxury goods. However, Puma’s shares have lost over 60% of their value over the past two years, prompting scrutiny of Artemis’ diversified investment portfolio, which has accumulated significant debt.
According to Bloomberg, citing unnamed sources, the Pinaults are working with advisors to evaluate options for their Puma stake, valued at approximately €800 million ($936.56 million) based on Puma’s market capitalization before the surge. Potential buyers reportedly include U.S.-based Anta Sports Products, Chinese sportswear firm Li Ning, and sovereign wealth funds in the Middle East. Neither Artemis nor Puma responded to requests for comment, leaving the market to speculate on the future of this significant stake.
The surge in Puma’s stock comes at a challenging time for the company. In July 2025, Puma reported disappointing second-quarter results, with sales falling 2% to €1.94 billion and issuing a profit warning, revising its full-year outlook to expect a low-double-digit sales decline. The company also underwent a leadership shakeup, with former CEO Arne Freundt stepping down in April due to “differing views on strategy execution.” He was replaced by Adidas veteran Arthur Hoeld, who took the helm on July 1. Puma has since implemented a cost-saving initiative dubbed “nextlevel” to optimize operations and improve efficiency.
The potential sale of Artemis’ stake could signal a strategic shift for both Puma and the Pinault family. Analysts suggest that offloading the stake might help Artemis alleviate financial pressure from its high debt levels, particularly after a reported 46% drop in Kering’s net profit in the first half of 2025, driven largely by Gucci’s underperformance. Meanwhile, Puma’s stock surge reflects investor confidence that a new major shareholder could inject fresh capital or strategic direction into the struggling sportswear brand.
However, the sportswear industry faces broader challenges, including a looming 15% tariff on European goods, which could force brands like Puma to raise prices and further impact sales. Despite these headwinds, Monday’s stock rally suggests that investors see the potential sale as a catalyst for change, potentially attracting buyers with deep pockets and a vision for Puma’s recovery.
As the Pinault family weighs its options, the market will be watching closely for any confirmation of a deal. For now, Puma’s future remains uncertain, but the prospect of new ownership has undeniably reignited interest in the brand. Stay tuned for further developments.