On December 22nd, Beijing Sanfo Outdoor Products Co., Ltd. (SZ:002780) announced that it will enter a joint venture agreement with the renowned Swedish outdoor brand Klättermusen’s parent company Klättermusen AB. Klättermusen AB will invest in Sanfo’s wholly-owned subsidiary, Beijing Travel Mouse Outdoors Co., Ltd. (referred to as “Beijing Travel Mouse”), acquiring a 60% stake. The joint venture agreement will commence on January 1, 2024, for a duration of ten years.
Following the capital increase, Sanfo Outdoor’s business model for the Klättermusen brand will shift from exclusive agency to joint venture operation.
Both parties agree that the joint venture will develop and expand the distribution and brand building of Klättermusen products in the region, including but not limited to wholesale, retail in owned stores, e-commerce, and all other sales channels.
Beijing Travel Mouse will also undergo a name change to Klättermusen (Beijing) Outdoor Products Co., Ltd. Additionally, the joint venture will establish a board of directors consisting of five members, with Klättermusen AB appointing three directors and Sanfo Outdoor appointing two. Klättermusen AB will have the right to appoint the chairman.
On August 1st this year, Sanfo Outdoor had proposed the framework agreement for the establishment of this joint venture.
Sanfo Outdoor states that the joint venture with Klättermusen AB is mainly based on the rapid increase in Klättermusen’s brand recognition and status internationally and in China, to meet the brand’s development needs in the Chinese market. Both parties view the Chinese outdoor sports market as one of the most promising globally.
Since its establishment in 1975 in Sweden, Klättermusen has been a classic mountain outdoor brand, deeply engaged in the outdoor sports field, developing unique functional fabrics and creating highly recognizable brand features like diagonal zippers, lace edges (multi-functional hanging points), and reflective triangle tags.
In January 2023, Klättermusen opened its first direct-operated chain retail store in Pudong’s Kerry Parkside, Shanghai, achieving profitability in the second month after opening. In June 2023, Klättermusen opened its first pop-up store in Nanshan, Shenzhen, achieving profitability within the same month. In the first half of 2023, Klättermusen achieved sales revenue of over 40 million yuan in the Chinese market, a 300% increase year-over-year.
In July this year, Sanfo Outdoor’s wholly-owned subsidiary, Shanghai Flying Frog Trading Co., Ltd., signed an “Exclusive Agency Agreement” with another Swedish outdoor brand, Houdini Sportswear AB, becoming Houdini’s exclusive general agent in China. (
In 2021, Sanfo Outdoor acquired all IP rights of the Swiss high-tech sports luxury brand X-BIONIC in China and has since established deep cooperation with the national ski team and Tsinghua University’s shooting team. The company also holds exclusive agency rights for the Italian artisanal heritage brand CRISPI in China.
Established in 1997, Sanfo Outdoor has continually expanded in store numbers and product types. With the development of the domestic outdoor industry and the rise of e-commerce, the company transitioned from a channel merchant to a brand merchant, developing e-commerce business and shifting its offline stores from street-side specialty shops to large shopping mall stores.
| Source: Official Announcement
| Photo Credit: Official Website
| Editor: LeZhi