The Pinault family, which controls German sportswear brand Puma, has approached potential buyers after the company lost nearly half its market value over the past year. Through holding company Artémis, the billionaire family owns a 29% stake in Puma and is working with advisers on a possible sale. According to sources, Anta Sports and Li-Ning have been contacted to gauge interest, along with U.S. sportswear companies and Middle Eastern sovereign wealth funds. Following the news, Puma’s shares surged by as much as 20% in Germany, pushing its market capitalization to about 3.2 billion euros ($3.7 billion). Talks are ongoing.