Amer Sports has divested its Suunto sports watch business to Liesheng − a Chinese technology company focusing on the smart & sport wearables electronics segment. Financial terms of the deal were not disclosed.
“We see tremendous potential with all of our brands,” said Michael Hauge Sørensen, Chief Operating Officer of Amer Sports.
“Suunto, as a manufacturer of world-renowned sport watches, dive computers and precision instruments, is not in the core focus of Amer Sports. After a careful review, we have concluded that an owner such as Liesheng, with its foundation in technology and R&D, is desired to unlock the full potential of Suunto. We believe that this transaction is a good fit for all parties.”
Amer Sports notes that its strategy is to focus on developing internationally recognized sporting-goods brands within the lifestyle, apparel, and footwear segments, shifting more business to D2C (direct-to-consumer) channels, as well as enhancing its presence in large markets such as China and the US.
Brands remaining in the Amer Sports portfolio include Salomon, Arc’teryx, Peak Performance, Atomic, ENVE and Wilson.
Liesheng has indicated that Suunto will continue to run its operations from Vantaa, Finland, and Suunto’s brand, products, services, business relations and employee statuses will remain unchanged after the transaction.
“Suunto has developed into an iconic global brand in outdoor sports and adventure under the ownership of Amer Sports,” said Heikki Norta, CEO and Brand President of Suunto.
“I’m excited to start the next phase of our journey and join forces with Liesheng. Our operations complement each other well, with no overlapping products and markets. Having a focused and successful wearables-industry player as Suunto’s owner will help power Suunto’s growth and broaden our shoulders in innovating fit-for-purpose products for outdoor adventures.”
Founded in Guangdong, China in 2015, Liesheng is a consumer-electronics company with its ‘products sold in more than 100 countries around the world, and serving tens of millions of users.’
“The acquisition of Suunto is an important part of our growth strategy, and we see great synergies between the two companies,” said Ma Hao, Chairman of Liesheng.
“As a global consumer-electronics company, Liesheng offers Suunto unique technological advantages in product development, centralized sourcing, and access to wider international markets, especially in Asia. For Liesheng, Suunto offers access to new markets and product categories, in addition to Suunto’s strong brand heritage.”
The closing of the transaction is subject to authority and other required approvals and fulfilment of certain commercial conditions. It is expected to close in the first half of 2022.
www.amersports.com
www.suunto.com
