"Outdoor Hermes" with a valuation of 70 billion yuan is about to be an IPO!

 人参与 | 时间:2024-03-05 23:24:29

"Outdoor Hermes" with a valuation of 70 billion yuan is 热点新闻about to be an IPO!


: Elephant Jun

Source: Elephant


Recently, AMER SPORTS (Amafen Sports) under Anta Sports has reported the news of applying for an IPO in the United States and plans to be listed early next year. The company's valuation can reach 10 billion US dollars (about 70 billion yuan).It is reported that the IPO plan of Amafen Sports raised funds of US $ 10-3 billion.

There are three treasures in the middle class, Raft Laurun, Lululemon, and Arit Bird.

In the outdoor sports market, the malesbolt has always been known for its high prices, and can even marked luxury brands such as Hermes and LV. The middle class uses it as a signal.

As the parent company of the well -known outdoor clothing brand, the rumors of the listing of Amafen have caused heated market debate.

It is worth mentioning that as early as 2019, the "Chinese Shoes King" Anta acquired Amafen Sports for 36 billion yuan for consolidated consolidated by Fangyuan Capital, Tencent, etc.Pens for multinational acquisition.If Amafen Sports is successfully listed this time, it will become the first subsidiary of Anta.


Anta multinational acquisition

The popular "out of the circle" of the apparent bird has benefited from the rise of outdoor sports trends in recent years, and it is inseparable from the help of Anta, the helm behind the helm behind.It is understood that the fate between Anta and the Ariter Birds began with a multinational acquisition that shocked the industry.

In 2019, the consortium composed of Anta Union Fangyuan Capital, Tencent and other institutions spent 4.6 billion euros (about 37 billion yuan) to acquire all the equity of Amafen, becoming the largest multinational acquisition case in the history of the Chinese sports goods industry.

From the perspective of the industry, this is a "snake swallow" type of multinational acquisition. The gap between the two parties in terms of volume and influence is different. For Anta, Amafen, who has been established for more than 70 years, is equivalent to playing a game.tough battle.

In the end, Anta injected 1.543 billion euros (about 33 billion yuan) in the consortium, accounting for the largest number of Amafen's holdings.According to Anza's half -year financial report, its current equity in Amafen's parent company As Holding accounts for 52.7%.

"This is the heaviest decision I made to this day." For the acquisition of Amafen Sports, in early 2019, Anta founder Ding Shizhong once said in the internal letter.

At the same time, he also predicted the company's performance contribution, "there will be no big profits in the short term." The follow-up data also showed that from 2019 to 2021, Anta Group's wholly-owned AM's joint venture company as AS AS’s co-operative company as AS of AS's company as AS’s AS of AS’s AS of AS's ASHolding lost 1.092 billion, 1.14 billion, and 154 million, respectively, and nearly 2.4 billion in three years.


The ancestor bird among the "three treasures of the middle class"

Public information shows that Amafen was founded in 1950. It started with a tobacco business. After the acquisition, it gradually extended its business to publishing, paper, printing, sporting goods, automobiles, plastic manufacturing, textiles, ice hockey and other fields., Try to find the best direction by investing in the tobacco business.

During the development process, Amafen noticed the potential of the sports goods industry. In 1986, the Ministry of Sports was established, and a number of sporting goods manufacturers were successively acquired. In 2004, it completely withdrew from the tobacco business and entered the sports goods market.

Since its development, Amafen owns a high -end brand, including the athletic bird, Salomon, Wilson, Wede Peak and Atomic, etc., covering the heads of tennis, outdoor products, mountaineering shoes, outdoor watches and skiing equipment and other fieldsThe ministry brand is known as "outdoor Hermes".

Although the main market was overseas before, in the past two years, with the rise of outdoor open camps and "mountain system wearing", Amafen's popularity in China has risen.Step on Salmon as a fashion dress.

At present, the males of the middle class have a twists and turns for development.The Tori Bird brand originated in 1989 and was founded by a Canadian rock climbing enthusiast. The brand was wholly acquired by Adidas in 2002 and entered the Salomon department.But in the Adidi era, the development of the apparent birds fell into stagnation.

In October 2005, Amafen spent 485 million euros, and bought the Salomon department of Adidas as a whole, and the ancestor bird became part of Amafen.Many years later, as Anta threw a huge sum of money to put Amafen into the pocket, the athletic bird also turned into His Majesty of Anta, ushered in a new stage of development.


Anta Globalization Strategy

Behind the acquisition of Amafen, more of Anta's consideration is its global strategy. Li Ling, vice president of Anta Group, said that if the acquisition is successfully completed, this will be a truly global acquisition in Anta.

In 2022, with the prevalence of outdoor sports, the growth of Amafen Sports gradually appeared, and AS Holding turned losses into profits, achieving a net profit of 50 million yuan.

In the first half of 2023, Anta achieved revenue of 29.645 billion yuan, an increase of 14.2%year -on -year; net profit was 4.748 billion yuan, a year -on -year increase of 32.3%.Among them, AS Holding's income was 13.27 billion yuan, an increase of 37.2%year -on -year. EBITDA (pre -profits of tax depreciation and amortization) increased by 149.2%to 1.78 billion year -on -year.

The current rise in performance is the good time to prepare for the IPO of Amafen Sports.

At the same time as the performance is warming, Anta continued to advance its global strategy with Amafen Sports.In the 2023 semi -annual report, Anta stated that it will continue to implement the strategic planning of "single focus, multi -brand, globalization", further optimize the management structure and business operations to promote strategic changes, and at the same time deepen the global strategic layout of "globalization".In addition to the overseas business of the Group's brand, it will continue to release the development potential of Amafen Sports.

"Amafen Sports's various strategies have made significant progress. The performance of the core brand business is exciting. We will continue to strengthen the three major market businesses in China, North America and Europe, and focus on the three major brands.The Group seeks breakthrough in the competitive sports supplies market that is more and more competitive, and promotes the group's "to become the world's leading multi -brand sporting goods group". "Anta revealed in the financial report.

In recent years, Anta has signed NBA players such as Thompson and Hayward to build brand cognition in overseas markets and open up the situation. This year, it is also expected to push the brand's influence to a new height from a brand competition.At the brand level, Anta's global action is more concentrated in brand acquisitions: 2009 acquired FILA's business in mainland China, established a joint venture in 2016, began to operate Diste's business in China.Long brand business, etc.

If Amafen Sports is successfully listed this time, it will become the first subsidiary group under Anta, creating a lot of benefits for it.

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