PUMA is the global athletic brand that successfully fuses influences from sport, lifestyle and fashion. PUMA’s unique industry perspective delivers the unexpected in sportlifestyle footwear, apparel and accessories, through technical innovation and revolutionary design.

In the United States, the company is probably best-known for the suede men’s basketball shoe it introduced in 1968, which eventually bore the name of New York Knicks basketball star Walt "Clyde" Frazier. PUMA Mostro style was a fashion hit as a women’s casual shoe and also as a men’s casual shoe. This fashion inspired athletic shoe created interest in other PUMA shoes including the men’s running shoes, men’s outdoor shoes, men’s tennis shoes, men’s training shoes, and men’s soccer shoes. PUMA’s successes in fashion spurred popular interest in their women’s running shoes, women’s outdoor shoes, and women’s training shoes.

Christoph Dassler was a worker in a shoe factory, while his wife Pauline ran a small laundry in the Bavarian town of Herzogenaurach, 20 kilometres from the city of Nuremberg. Their son Rudolf Dassler after leaving school joined his father at the shoe factory, and was then called up to fight in World War I. On his return from the front, Rudolf took a management position at a porcelain factory, and later in a leather wholesale business in Nuremberg. After tiring of working for others and away from home, Rudolph returned to Herzogenaurach to found Gebrüder Dassler Schuhfabrik (Dassler Brothers Shoe Factory) in 1924, with his younger brother Adolf, known as "Adi". The pair started their venture in their mother's laundry, but at the time, electricity supplies in the town were unreliable, and the brothers sometimes had to use pedal power from a stationary bicycle to run their equipment. In 1948, the brothers split their business, when Rudi left the high hill for the other side of the Aurach river: Adolf called his firm Adidas after his nick name; Rudolf called his new firm Ruda after Rudolph Dassler.

Rudolf's company changed its name to PUMA Schuhfabrik Rudolf Dassler in 1948, and became a public company in 1986, listed on the Börse München and Frankfurt Stock Exchange.

However, the brothers earlier split led to a divided town. From 1948, the town was really split in two like a sort of mini Berlin. Brand loyalty became paramount for many residents, and there were stores, bakers and bars which were unofficially known as either loyal to Rudolf's Puma, or to Adolf's Adidas. There two football teams were also divided: ASV Herzogenaurach club wore the three stripes, while 1 FC Herzogenaurach had the jumping cat on its footwear. Intermarriage was frowned upon. When handymen came to work at Rudolf's home, they would wear Adidas shoes on purpose so that when Rudolf would see their footwear, he'd tell them to go to the basement and pick out a pair of Puma shoes, which they could have for free. The two brothers never reconciled, and although both are buried in the same cemetery, they are spaced apart as far as possible.

In May 1989, Rudolf's sons Armin and Gerd Dassler agreed to sell their 72 percent stake in PUMA, to Swiss business Cosa Liebermann SA.

On 10 April 2007 French retailer and owner of Gucci brand Pinault-Printemps-Redoute announced that it had bought a 27% stake in Puma, clearing the way for a full takeover. On 17 July 2007 Pinault-Printemps-Redoute have 62,1 % of Puma stocks.