Adidas vs Puma: Founders, CEOs and History
Adidas was founded in 1949 by Adolf Dassler and is led by Bjørn Gulden. Puma was founded in 1948 by Rudolf Dassler and is led by Arthur Hoeld.
Company facts
Founders
Adidas
Adolf Dassler
Adolf Dassler was the sole founder of Adidas. He developed sport-specific footwear, sought athlete feedback, and registered the Adidas company and 3-Stripes footwear in 1949.
Puma
Rudolf Dassler
Rudolf Dassler co-founded Gebrüder Dassler Schuhfabrik with his brother Adi in the 1920s. After the brothers fell out during and after World War II, they split the business in 1948.
CEOs and their tenures
Adidas
- Robert Louis-Dreyfus1993–2001
CEO
He led Adidas through its 1990s restructuring and transition to a publicly listed sporting-goods group.
Source - Herbert Hainer2001–2016
CEO
During his tenure Adidas expanded its brand portfolio and grew its global footwear and apparel business.
Source - Kasper Rørsted2016–2022
CEO
His tenure increased Adidas's digital sales and direct consumer operations before ending in 2022.
Source - Bjørn Gulden2023–present
CEO
Adidas reported 2025 sales of ~$28 billion (EUR24.811 billion) and attributable net income of ~$1.51 billion (EUR1.340 billion) during his tenure. His appointment was extended through 2030.
Source
Puma
- Bjorn Gulden2013–2022
Former Chief Executive Officer
Gulden is widely credited with saving Puma, delivering record sales and earnings by 2021, before resigning at the end of 2022 to become CEO of rival Adidas -- a rare direct executive move between the two Dassler-founded competitors.
Source - Arne Freundt2022–2025
Former Chief Executive Officer
Freundt led Puma for about two and a half years before stepping down on April 11, 2025, amid publicly stated 'differing views on strategy execution' with the board, after 14 years in various leadership positions at the company.
Source - Arthur Hoeld2025–present
Chief Executive Officer
Hoeld declared 2025 a reset year: Puma cleared inventory, cut low-margin mass-merchant wholesale business and took restructuring costs, leaving FY2025 sales down 13.1% at ~$8.25 billion (€7.30 billion) with a net loss of about $729 million (€645.5 million).
Source
Timeline: Adidas and Puma side by side
1924Adidas
Dassler Brothers Shoe Factory Established
Adolf and Rudolf Dassler established the predecessor shoe business in Herzogenaurach.
1936Adidas
Jesse Owens Wears Dassler Shoes
Jesse Owens competed in Dassler track shoes while winning four gold medals at the Berlin Olympics.
1948Puma
Rudolf Dassler Registers RUDA, Later Renamed PUMA
After splitting from brother Adolf's Gebruder Dassler Schuhfabrik on January 1, 1948, Rudolf Dassler registers his own company, Schuhfabrik Rudolf Dassler (RUDA), renamed PUMA Schuhfabrik Rudolf Dassler within the year.
1949Adidas
Adidas Registered
Adolf Adi Dassler registered Adidas in Herzogenaurach after separating from Rudolf, who founded Puma.
1952Puma
Super Atom Launch
Launched the first boot with screw-in studs.
1954Adidas
World Cup Boot Breakthrough
West Germany won the 1954 World Cup wearing Adidas boots with replaceable studs.
1968Puma
Puma King Launch
Launched the famous Puma King football boot.
1970Adidas
Telstar World Cup Match Ball
Adidas supplied the Telstar as the official match ball for the 1970 FIFA World Cup.
1986Puma
Goes Public
Puma became a public company.
1993Adidas
Robert Louis-Dreyfus Becomes CEO
Robert Louis-Dreyfus became CEO and led a restructuring of Adidas.
1993Puma
Jochen Zeitz appointed CEO
Jochen Zeitz became CEO and turned the company around.
1995Adidas
Adidas Lists Publicly
Adidas completed its public listing in Frankfurt under Robert Louis-Dreyfus.
1997Adidas
Salomon Group Acquisition
Adidas acquired Salomon Group, adding winter sports equipment and TaylorMade golf.
2006Adidas
Reebok Acquisition Completed
Adidas completed its $3.8 billion acquisition of Reebok.
2007Puma
Kering Acquisition
Kering acquired a controlling stake in Puma.
2014Puma
Fenty x Puma Partnership Begins
Rihanna joins Puma as creative director and brand ambassador, launching a partnership that includes the popular Fenty Puma Creeper sneaker; the collaboration runs through 2018.
2018Puma
Kering Spin-off
Kering spun off Puma to its shareholders.
2021Adidas
Reebok Divestiture Agreement
Adidas agreed to sell Reebok to Authentic Brands Group for total consideration of up to $2.37 billion (EUR2.1 billion).
2022Adidas
Ye Partnership Terminated
Adidas terminated its partnership with Ye and stopped production of Yeezy branded products.
2022Puma
Bjorn Gulden Departs for Adidas
then-CEO Bjorn Gulden resigns at the end of 2022 to become CEO of rival Adidas; Arne Freundt takes over as Puma CEO with immediate effect.
2023Adidas
Bjørn Gulden Becomes CEO
Bjørn Gulden became Adidas CEO on January 1, 2023.
2023Puma
Fenty x Puma Partnership Revived
Puma and Rihanna announce a revived Fenty x Puma partnership for a three-year term.
2025Adidas
Record 2025 Sales
Adidas reported sales of ~$28 billion (EUR24.811 billion) and attributable net income of ~$1.51 billion (EUR1.340 billion) for 2025.
2025Puma
Arthur Hoeld Becomes CEO
Following Arne Freundt's departure in April 2025 over strategy disagreements, 26-year Adidas veteran Arthur Hoeld becomes Puma CEO effective July 1, 2025.
2026Puma
Anta Sports Agrees to Buy 29.06% Stake
Groupe Artémis, the Pinault family holding company, agrees to sell its 29.06% Puma stake to China's Anta Sports for about $1.69 billion (€1.5 billion) in cash (€35 per share). China's market regulator later approved the deal unconditionally.
Acquisitions
Adidas
- Runtastic2015$240M
- Five Ten2011$25M
- Reebok2006$3.8B
- Salomon Group1997$1.4B
Questions about Adidas vs Puma
Who is the CEO of Adidas AG and Puma SE?
Adidas AG is led by Bjørn Gulden and Puma SE is led by Arthur Hoeld. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Adidas AG founded vs Puma SE?
Puma SE was founded in 1948 — 1 year before Adidas AG, which was founded in 1949. Puma SE's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Adidas AG.
How many employees does Adidas AG have compared to Puma SE?
Adidas AG employs approximately 64,938 people, while Puma SE employs approximately 21,194. Adidas AG has the larger workforce at 64,938 employees, compared to Puma SE's 21,194. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Adidas AG and Puma SE headquartered?
Both Adidas AG and Puma SE are headquartered in Germany, meaning they operate under the same primary regulatory and tax environment.
Who founded Adidas AG and Puma SE?
Adidas AG was founded by Adolf Dassler. Puma SE was founded by Rudolf Dassler.
Which company has a longer operating history — Adidas AG or Puma SE?
Puma SE has been operating for approximately 78 years, making it the more established of the two companies. Adidas AG has been in operation for around 77 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Adidas vs Puma overview