Amer Sports, parent company of Arc’teryx, Salomon and Wilson, said Golden Week revenue in China increased 60% year over year, according to a news release shared by the company.
Golden Week, China’s national holiday, lasted from October 1st to October 7th, and stock prices soared following the government’s announcement of economic stimulus measures.
Amer Sports CEO James Zheng shared the information with investors and analysts in Shanghai on October 8th.
“Amer Sports’ revenue growth rate in Greater China exceeded 60% year-on-year during the seven-day Golden Week period, and was strong nationwide.”
“The portfolio was driven by accelerated store sales at Salomon, Wilson and Arc’teryx,” the release said.
“We continue to see significant growth opportunities in China, particularly in the outdoor sector, which has shown resilience despite the economic downturn.”
Arc’teryx helps China drive strong revenue growth
Arc’teryx technical apparel continued to drive the parent company’s strong revenue growth, according to Amer Sports’ latest quarterly results report ending June 30.
Helsinki, Finland-based Amer reported a 16% year-over-year increase in revenue for the quarter to $994 million. Direct-to-consumer (DTC) revenue increased 40% to $449 million, and wholesale revenue increased 2% to $545 million. Revenue in the Technical Performance category, which includes the Arc’teryx and Peak Performance brands, increased 34% year-over-year to $407 million.
Revenue in Greater China for the quarter was $289 million, an increase of 54% from the same period last year. Sales in the Asia-Pacific region excluding China increased 45% to $106 million.
