stichd
2011
Why
Manages branded apparel and fan merchandise.
Puma SE
Sportswear and athletic apparelFounded 1948- HQ today: Herzogenaurach, Germany
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
Puma Acquisitions
3
Major Deals Covered
What are Puma's biggest acquisitions?
This page covers 3 major deals from 2001 to 2011, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- First deal
- 2001
- Most recent
- 2011
| Company | Year | Price | Purpose |
|---|---|---|---|
| Scandinavian Tretorn Group | 2001 | Undisclosed | Puma acquired Scandinavian Tretorn Group in 2001. |
| Cobra Golf | 2010 | Undisclosed | Puma bought Cobra Golf from Acushnet in 2010 to add golf clubs to its golf apparel and footwear. The combined business operates as COBRA PUMA Golf. |
| stichd | 2011 | Undisclosed | Manages branded apparel and fan merchandise. |
- What companies has Puma bought?
- Major acquisitions by Puma documented here include stichd (2011), Cobra Golf (2010) and Scandinavian Tretorn Group (2001).
- What is Puma's most recent acquisition?
- The most recent Puma acquisition documented here is stichd, in 2011.
Cobra Golf
2010
Why
Puma bought Cobra Golf from Acushnet in 2010 to add golf clubs to its golf apparel and footwear. The combined business operates as COBRA PUMA Golf.
Impact
Gave Puma a golf equipment business. Weakness in golf was the main reason Accessories sales fell 8.5% (currency-adjusted) in 2025.
Outcome
Cobra Golf remains part of the PUMA Group, which lists PUMA, Cobra Golf and stichd as its brands.
Scandinavian Tretorn Group
2001
Why
Puma acquired Scandinavian Tretorn Group in 2001.
Puma SE's Growth & Acquisition Strategy
Under Arthur Hoeld, Puma's plan is to make the brand more premium and less dependent on discount channels. In practice that means cutting undesirable wholesale and mass-merchant accounts, clearing excess inventory, raising the share of direct-to-consumer sales (35.2% in Q2 2026), and focusing marketing on football, running (NITRO), training (HYROX) and low-profile lifestyle sneakers such as the Speedcat. Asia, including Greater China, is the main growth region.
How Puma SE Makes Money
Puma makes money by selling footwear, apparel and accessories under the PUMA, Cobra Golf and stichd names through two channels. Wholesale, sales to retail partners such as sporting-goods chains and department stores, is the larger channel: ~$1.24 billion (€1,094.8 million) of Puma's ~$1.91 billion (€1,690.6 million) in Q2 2026 sales. Direct-to-Consumer (DTC), meaning owned stores, outlets and e-commerce, brought in ~$673 million (€595.8 million), or 35.2% of the quarter, up from 32.1% a year earlier. Footwear is the largest product division (~$2.29 billion (€2.03 billion) in H1 2026), followed by apparel (~$1.24 billion (€1.10 billion)) and accessories (~$486 million (€0.43 billion)). Like its large rivals, Puma designs products in-house and relies on independent contract manufacturers, mainly in Asia.
Puma Acquisitions FAQ
What was Puma’s major equipment acquisition in golf?
In March 2010, Puma acquired Cobra Golf from Fortune Brands (Titleist), creating COBRA PUMA GOLF to combine high-performance golf clubs and equipment with Puma’s vibrant apparel and footwear line.
How did the Cobra Golf acquisition change Puma’s golf business?
Cobra Golf gave Puma immediate tour credibility, signing colorful star golfers like Rickie Fowler, Lexi Thompson, and Bryson DeChambeau who popularized flat-brim Puma golf caps and high-performance drivers.
What was the strategic importance of acquiring Dobotex in 2011?
Puma acquired 100% of Dutch bodywear manufacturer Dobotex (in which it previously held a minority stake), bringing high-margin production and global distribution of Puma socks, underwear, and licensed intimates fully in-house.
What was Kering’s ownership era of Puma (2007–2018)?
In 2007, French luxury conglomerate Kering (then PPR) acquired a controlling 62% stake in Puma for €5.3 billion, supporting international retail expansion before spinning Puma off to Kering shareholders as an independent public company in 2018.
Does Puma frequently acquire other athletic shoe brands?
Puma deliberately focuses on organic brand growth rather than acquiring competing footwear brands, channeling capital into high-profile sports sponsorships, proprietary footwear technologies (NITRO), and direct DTC stores.
How did Puma regain full control of its regional licensed distributors?
Over the past two decades, Puma systematically bought out independent regional distribution licensees in major territories (such as Japan, China, and Latin America) to establish direct wholly-owned subsidiary control.
What joint ventures has Puma formed in motorsport?
Rather than acquiring racing teams, Puma forms long-term exclusive commercial partnership licensing ventures with Formula 1, Ferrari, Mercedes-AMG, and BMW M Motorsport to co-develop racing gear and lifestyle collections.
What is Puma’s future M&A and corporate investment outlook?
Under CEO Arne Freundt, Puma focuses capital on digital e-commerce technology, automated logistics distribution fulfillment centers in North America and Europe, and specialized sustainable material innovations.
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