Do we like them?

Do we like Puma?

German sportswear maker (shoes, clothing, kit) based in Herzogenaurach, Germany, sold in many countries.

Our score: 5 out of 10. Mixed. It publishes a lot on factory checks, but we'd want the athlete injury lawsuit and the supply-chain questions settled before backing it. It's also in a loss-making turnaround.

Puma is the German sportswear name from Herzogenaurach, and it's now run by Arthur Hoeld. He joined as CEO in July 2025 after 26 years at rival adidas. His brief is a turnaround, after a year Puma itself calls a 'reset'.

The money side is shaky. Puma said 2025 made a net loss and proposed no dividend. For 2026 it forecast an operating loss of €50–150 million and called it a transition year. Hoeld says the plan is to make the brand 'less commercial'.

Ownership is changing. In January 2026 China's Anta Sports agreed to buy 29.06% from the Pinault family's Artemis for €1.5bn, making it the biggest shareholder. Anta said it had no current plans for a full takeover offer, per CNBC.

The drama is legal. Sprinter Abby Steiner sued in April 2026, claiming Puma's carbon-plated shoes wrecked her career. Puma has strongly denied wrongdoing. Earlier, UN experts wrote to Puma in 2021 about alleged Uyghur forced labour in supply chains. Puma replied that the claims were incorrect.

On the plus side, Puma publishes audit and hotline data and has been in the Fair Labor Association since 2007. Its own reports say it got suppliers to repay migrant workers' fees. We can't verify all of that independently, so we land at a mid-table 5.