Puma SE shares surged 18% to 1353 GMT after Bloomberg reported that the Pinault family’s holding company, Artemis, is exploring options for its 29% stake in the German sportswear maker. The Pinaults are working with advisors to assess their asset and have reached out to potential buyers. This move comes as investors scrutinize Artemis’ high debt levels across its portfolio of luxury, arts, and entertainment businesses.
Puma’s shares have lost over 60% of their value in the past two years. The stake is worth approximately $936 million based on Puma’s market capitalization. Artemis had issued an exchangeable bond to downsize its holding but now needs to pay investors back in cash due to Puma’s poor share price performance.
The Pinault family acquired their stake in Puma following a reshuffle of Kering’s portfolio in 2018, when Kering was transformed into a pure luxury player. Despite this, Artemis said it is not facing liquidity problems due to reduced dividends from Kering and other assets.
Source: https://www.reuters.com/business/puma-shares-soar-report-pinault-family-exploring-sale-29-stake-2025-08-25