#Gorpcore may not be the coolest trend anymore, but the market for premium hiking shoes and water-proof jackets continues to grow, and investors see an opportunity to cash in on the boom.
On Wednesday, Arc’teryx- and Salomon-owner Amer Sports filed for a US IPO that could value the Finnish group at as much as $10 billion, according to a Bloomberg report citing sources familiar with the matter.
The valuation would be more than double the company’s 2018 price tag when it was acquired by a consortium of buyers led by Anta Sports, China’s largest sportswear company, that also includes Chinese tech giant Tencent, private equity firm Fountain Vest Partners and Lululemon founder Chip Wilson.
The IPO will help fund the ambitious growth plans that Amer has set for its three largest brands — Salomon, Arc’teryx and tennis equipment company Wilson — to reach €1 billion ($1.1 billion) in annual sales each, and for Amer Sports to generate €5 billion ($5.5 billion) in total revenue, up from €3.4 billion in 2022.
Read more on how Amer Sports, the owner of Arc’teryx and Salomon is eyeing a US listing at a $10 billion valuation. #linkinbio
✍️ @danielyaw_
📷 Arc’teryx
On Wednesday, Arc’teryx- and Salomon-owner Amer Sports filed for a US IPO that could value the Finnish group at as much as $10 billion, according to a Bloomberg report citing sources familiar with the matter.
The valuation would be more than double the company’s 2018 price tag when it was acquired by a consortium of buyers led by Anta Sports, China’s largest sportswear company, that also includes Chinese tech giant Tencent, private equity firm Fountain Vest Partners and Lululemon founder Chip Wilson.
The IPO will help fund the ambitious growth plans that Amer has set for its three largest brands — Salomon, Arc’teryx and tennis equipment company Wilson — to reach €1 billion ($1.1 billion) in annual sales each, and for Amer Sports to generate €5 billion ($5.5 billion) in total revenue, up from €3.4 billion in 2022.
Read more on how Amer Sports, the owner of Arc’teryx and Salomon is eyeing a US listing at a $10 billion valuation. #linkinbio
✍️ @danielyaw_
📷 Arc’teryx
