Puma’s Historic Rivalry With Adidas Enters a New Era as Anta Deal Signals Turnaround Push

Germany’s iconic sportswear brands Puma and Adidas share one of the most famous origin stories in global business. Both companies were born in the same house in Herzogenaurach, Bavaria, where brothers Rudolf and Adolf Dassler launched their shoe business nearly a century ago. A bitter family feud later split the original company, leading Rudolf to found Puma and Adolf to establish Adidas. Today, their headquarters remain just a short walk apart, symbolizing a rivalry that has shaped the sportswear industry for decades.

Now, Puma’s story is entering a new chapter. The brand is set to come under the influence of China’s largest sportswear company, Anta, which plans to acquire a major stake in a $1.8 billion deal. The move would make Anta Puma’s biggest shareholder and is widely seen as a strategic effort to revive one of Europe’s most recognizable sports brands after years of declining performance.

Once the world’s third-largest sportswear company behind Nike and Adidas, Puma has struggled to keep pace as competition intensified. While Adidas surged ahead with strong demand for its retro Samba and Terrace sneakers, Puma’s Speedcat and lifestyle-focused offerings failed to capture the same momentum. Analysts note that Puma became overly reliant on lifestyle products, reducing its investment in performance footwear and star athlete endorsements, which weakened its global visibility.

Emerging brands such as On Running and Hoka have also disrupted the market, further pressuring Puma’s market share. The company’s stock, which peaked in 2021, has since lost around 80% of its value. Despite broader challenges facing the retail sector, Puma has been hit especially hard by heavy discounting, crowded distribution channels, and delayed sneaker trends compared to rivals.

The Anta partnership could prove pivotal, particularly in strengthening Puma’s presence in China, one of the world’s most important sportswear markets. Under CEO Arthur Hoeld, Puma has already launched a turnaround plan focused on job cuts, streamlined product ranges, reduced discounting, and stronger marketing. With Anta’s backing, Puma hopes to reclaim brand relevance, close the gap with Adidas, and restore its position in the global sportswear race.