While traditional luxury brands are suffering amidst a slowdown in sales, the outdoor sector seems to be faring through the fashion shakeup quite well. Amer Sports, the parent company of Salomon, Arc'teryx and Wilson, has released a redemptive Q3 report, rebounding strongly from a lackluster February IPO with major growth across its portfolio.
According to Business of Fashion, the latest numbers show that Amer Sports' revenue increased 17% year-over-year reaching a total of $1.4 billion–on track with the raised guidance issued in the second quarter. Additionally, the report showed that the company's net income grew to 257% over the prior year to a total of $56 million and now Amer Sports eyes full-year sales growth between 16-17%. The company saw outstanding growth in China, where its largest individual shareholder Anta Sports is based.
The boost is driven by rising profitability at flagship brand Arc'teryx and strong performance across its portfolio in the Asia-Pacific region, where many luxury brands are currently struggling. While Arc'teryx may not fit the mold of a traditional luxury label, the outdoor gear brand's price points brush up closely to high-end brands with some backpacks and shell jackets reaching up to $1500 USD.
As competitors in the apparel space continue to post varying results towards the year's close, market trends signal a shift toward hobbyist and activity-based spending rather than luxury for luxury's sake.
Click here to view full gallery at Hypebeast
