The largest shareholder of German sportswear brand Puma SE is considering options for its development, including a sale, Bloomberg reports.
The Pinault clan owns 29% of Puma, which is listed on the Frankfurt Stock Exchange through Artémis, which is also a controlling shareholder of Kering SA.
The billionaire family is working with advisers and has already contacted potential buyers, including Anta Sports Products Ltd. and Li Ning Co., to gauge interest.
They have also been canvassing other sportswear companies in the United States and sovereign wealth funds in the Middle East.
Puma shares have fallen 50% in the past 12 months due to weak demand for its products and concerns about the impact of US tariffs. The company’s market value is now about 2.6 billion euros ($3 billion).
The sources said discussions are ongoing and there is no guarantee that a deal will go through.
Puma, led by new CEO Arthur Goeld, is trying to reorganize itself after its products have failed to garner much consumer enthusiasm in recent years. Last month, the company issued a profit warning.