The largest sporting goods retailer in China is considering taking one of its brands public.
Anta Sports — a brand often called “the Nike of China” — is reportedly weighing an initial public offering of Amer Sports, the owner of sportswear and equipment brands including tennis racket maker Wilson and Louisville Slugger.
- In 2018, Anta purchased Amer in a deal valued at $5.2 billion.
- Anta is in preliminary talks with investment banks to facilitate a potential IPO.
- Amer could raise at least $1 billion in the transaction.
- It could go public as early as 2023.
Lululemon founder Chip Wilson — who is valued at $6.1 billion and owns a 20% stake in Amer worth at least $1.2 billion — vowed to help Amer expand its sales through direct-to-consumer channels. Anta is attempting to make Amer a more globally recognized brand through a revamped focus on product and design.
Amer has a group of investors that also includes Tencent and private equity firm FountainVest.
Financial Status
Anta generated a record $3.7 billion in revenue for the six months ending June 30, a 14% increase year-over-year. Its Amer segment posted $1.4 billion in revenue during the six months, up 21% compared to the same period last year.
Amer’s growth was attributed to strong sales outside China and continued development in the country — despite its COVID-zero strategy on consumer spending.
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