Anta Sports’ €1.5bn deal to become Puma’s biggest shareholder puts the Chinese sportswear conglomerate into closer competition with the sort of global brands it once produced shoes for.
The company started in 1991 as a contract manufacturer in Fujian, a coastal province that quickly became a production hub for western brands such as Nike and Adidas. But Anta has long pursued an overarching strategy of rivalling those same companies at home and abroad.
This week, it took its most prominent step yet towards that goal with the purchase of a 29 per cent stake in Puma, the struggling German brand, from France’s billionaire Pinault family.
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