The rise and fall of a German sports icon

Germany's Puma and fierce rival Adidas have their roots in the very same house where brothers Rudolf and Adolf Dassler launched their shoe business a century ago, before a major fallout between the siblings split the company in two.

- PAOLO LAUDANI HELEN REID

A football boot made by Puma, at its headquarters in Herzogenaurach, Germany, in 2014.

(REUTERS)

From the split of the original company Geda, Rudolf founded Ruda — later renamed Puma — while Adolf founded Adidas. The two firms’ headquarters remain just a short walk from each other in the Bavarian town of Herzogenaurach. Now Puma iis set to come under the wings of China’s top sportswear firm Anta, which would become its biggest shareholder in a $1.8 billion deal aimed at turning around one of Europe’s most iconic sports brands that has fallen sharply from grace.

Puma, with its leaping wildcat logo, has struggled to win consumers to its sportswear and Speedcat sneakers, even as Adidas has streaked ahead with its retro Terrace shoes, widening a sales gap between the two firms.

“Puma became... too dependent on maybe lifestyle products rather than performance sports shoes, which really drove this industry,’ said Morningstar analyst David Swartz, adding its lower revenues meantit had less to spend on star names boosting the brand.