German sportswear giant Puma is at a crossroads. The company’s stock, which trades on the Frankfurt Stock Exchange, is down more than 45% over the past year, its sales are declining, and its largest shareholder is reportedly exploring a sale of its 29% stake.
Telsey Advisory Group analyst Cristina Fernández says a Chinese buyer could make sense, but she also sees private equity as a possible path. “We have seen private equity be pretty involved with brands like these,” she says, “and then over time resurrect them and take them public.”
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