Frasers Group adds to Puma stake

Puma announced in a filing that Frasers had acquired the stake mostly through derivatives, financial contracts that are linked to the value of Puma’s shares. The German company’s share price closed at €22.62 yesterday, up nearly 6% from the start of trading. 

It is the second major purchase of a stake in Puma following the purchase of 29% of the business by Anta Sports in January. The Chinese group bought its share from the Pinaults, the billionaire French family behind luxury group Kering. 

Puma has been through a rough patch of trading of late, with 2025 sales down by 8.1% in what it dubbed a “reset” year. It is expected to narrow the loss in its earnings before interest and tax in 2026 to between €50m (£43.5m) and €150m (£130.3m).

The brand is a major supplier to Frasers Group retailer Sports Direct. 

Frasers Group also has a major stake in another German retailer, Hugo Boss, where the latest figures suggest it owns 25% of shares. Frasers Group chief executive Michael Murray joined the Hugo Boss board in May last year. 

Last month, Frasers Group announced it had acquired a majority stake in Italian sports retailer Maxi Sport, which has 18 stores across Italy. That followed the acquisition of central European sports business Hervis Hungary and Hervis Romania, adding 75 stores to its portfolio.