Mike Ashley’s Frasers Group Acquires 6 Percent Stake in Puma

Mike Ashley’s Frasers Group has acquired a near 6 per cent stake in Puma, marking a significant move in the dynamic world of retail investment. The acquisition, which totals 5.77 per cent, makes Frasers the second-largest shareholder of the German sportswear brand, according to filings from the German stock exchange. Following this disclosure, shares in Puma experienced nearly a 10 per cent increase.

This strategic positioning comes in the wake of a recent investment by the Chinese firm Anta Sports, which purchased a 29.1 per cent stake in Puma for €1.5 billion. The Frasers Group has secured its stake through a series of put option agreements related to Puma shares. Founded in 1982 by Ashley, Frasers Group is now under the leadership of his son-in-law, Michael Murray. The company has a history of acquiring minority stakes in various businesses and seeking operational changes.

The acquisition occurs during challenging times for Puma. The firm has recently issued profit warnings, struggling to keep pace with competitors such as Adidas and Nike. In February, Puma reported a record annual loss of €645.5 million alongside declining sales, prompting plans to cut 900 jobs as part of a turnaround strategy managed by new chief executive Arthur Hoeld.

Hoeld has openly questioned the brand’s product offerings due to a significant decline in demand for its footwear. Wider industry pressures, including tariffs imposed during President Trump’s administration and fluctuating consumer confidence in the United States, have further complicated Puma’s situation.

The acquisition by Anta—established in 1991—of its stake from France’s billionaire Pinault family adds another layer to the unfolding narrative. Anta has indicated a careful consideration of its future partnership with Puma, although it has ruled out making a takeover offer for now. This recent financial landscape has seen Puma’s share prices recover from a near ten-year low, closing at €22.62 after a 4.5 per cent increase.

Both Frasers and Puma have been approached for comment regarding these developments. The wider implications of these transactions will be closely monitored as both companies navigate the evolving retail environment.