Nike and Adidas face a new rival as China’s Anta takes stake in Puma

Nike and Adidas are set to face a challenger after China’s Anta Sports activities acquired a 29 per cent stake in Germany’s Puma for $1.8 billion, sharpening its push into the worldwide large league of sportswear.

The Fujian-based firm now leads China’s sportswear market with a 23 per cent share, forward of its Western rivals, and carries a market capitalisation of about $28 billion.

Over the previous decade, Anta has steadily assembled a diversified portfolio throughout worth factors and classes. Its manufacturers embrace Fila in China and elements of Southeast Asia, Descente, Kolon Sport, MAIA Lively, Jack Wolfskin and Amer Sports activities, the Finnish group it acquired for $6.29 billion in 2018 and relisted in 2024.

Amer’s secure—which incorporates Arc’teryx, Salomon and Wilson—has delivered robust progress in Higher China, supported by premium retailer enlargement and a direct-to-consumer technique. That observe file is broadly seen as a template for what Anta might try with Puma, notably in China the place the German model stays underpenetrated.

Puma generates solely a small portion of its income from China, the world’s second-largest shopper market, leaving room for enlargement.

For Anta, Puma brings a vital lacking piece: a globally recognised mass-market model with established scale in the US and Europe. Whereas Anta operates roughly 13,000 shops in China and is increasing into Southeast Asia, its homegrown label has restricted traction in Western markets.

With inputs from businesses.