Puma Gains Ground on Stock Market as Kering Ownership Rumors Swirl

Puma rallies on the stock market. The German company soared more than 15% on the stock market yesterday in view of the possible exit of the Pinault family, which controls luxury brands such as Gucci and Balenciaga.

Puma’s share price soared on Monday after the Pinault family’s plans to sell its 29% stake in the German sportswear and footwear manufacturer were revealed, according to Bloomberg.

Puma shares rallied 15.96% to €21.73 in yesterday’s session, although the shares have even pierced the €22 barrier. Nevertheless, they are 44.41% below their levels of a year ago.

Puma reported an ebit of negative 40 million euros

The Pinaults are already working with advisors to carry out the operation. In fact, they have already contacted a number of interested parties, such as Chinese companies Anta Sports Products and Li Ning, as well as U.S. sports brands and Middle Eastern investment funds.

Sources have indicated that the Pinaults intend to get a “significant premium” for the 29% stake they control in Puma through the Artémis group. They also indicated that the negotiations may not result in a firm offer.

Puma ended the first six months of the current financial year in the red at €246.6 million, compared to a positive €129.3 million in the first half of 2024. The company’s gross margin was hit hard, down sixty basis points to 46.5%. With operating expenses up 5.5%, adjusted earnings before taxes (ebit) came in at €62.5 million, compared with €276.2 million in the same period of 2024. Reported ebit was negative €40 million.