On August 1st, after the closing bell, Beijing Sanfo Outdoor Products Co., Ltd. (SZ:002780) announced the establishment of a joint venture with Klättermusen AB, the Swedish company behind the renowned outdoor brand Klättermusen. The joint venture will be formed through the incorporation of a wholly-owned subsidiary, Beijing Travel Mouse Outdoors, which will introduce Klättermusen into the Chinese market.
Previously, Beijing Travel Mouse Outdoors held exclusive rights to represent Klättermusen in China. This collaboration comes in response to the rapid increase in brand recognition and status both domestically and internationally, meeting the demand for expansion in the Chinese market.
As part of the deal, Beijing Travel Mouse Outdoors will divest its assets and operations related to other represented brands, retaining only those associated with Klättermusen. Additionally, the company will relinquish its preferential subscription rights for this capital increase. Following the completion of the capital injection, Klättermusen AB will hold a 60% stake in Beijing Travel Mouse Outdoors, while Sanfo Outdoors will hold 40%.
Sanfo Outdoors expressed its long-term commitment to this joint venture with Klättermusen AB, with both parties seeing the Chinese outdoor sports market as one of the most promising globally. They intend to pool resources and focus on various aspects, such as product development, marketing, and channel layout, to accelerate the growth of the Klättermusen brand in China. This collaboration is expected to have a positive impact on the company’s performance in the medium to long term.
Founded in Sweden in 1975, Klättermusen is a classic outdoor brand known for its deep-rooted focus on sports and outdoor activities. It has developed numerous unique functional fabrics and distinctive brand features, such as inclined zippers, multifunctional lace edges, and reflective triangular labels.
According to Sanfo Outdoors’ 2022 annual report, Klättermusen’s performance in the Chinese market has been outstanding, with sales reaching 50 million Yuan, representing a remarkable year-on-year growth rate of over 1000%. Presently, they have two directly operated brand stores in Hangzhou tower and Shanghai’s Kerry Center and have also established brand stores on platforms like Tmall, JD.com, and Douyin.
Moreover, as per the records of their investor relations activities in March, Sanfo Outdoors plans to deepen its collaboration with Klättermusen, aiming to open 2-3 Klättermusen brand specialty stores throughout the year.
Just last month, in July, Sanfo Outdoors’ wholly-owned subsidiary, Shanghai Flying Frog Trading Co., Ltd., signed an exclusive agency agreement with another Swedish outdoor brand, Houdini Sportswear AB, becoming the exclusive general agent for Houdini in China.
In 2021, Sanfo Outdoors acquired all the intellectual property rights of Swiss high-tech sports luxury brand X-BIONIC in China, establishing deep cooperative relationships with the National Ski Team and the Tsinghua University Shooting Team, among others. Additionally, the company holds the exclusive agency rights for CRISPI, an Italian handcrafted heritage brand in the Chinese market.
Founded in 1997, Sanfo Outdoors has been expanding its store network and product range. Over time, with the development of the domestic outdoor industry and the rise of e-commerce channels, the company transitioned from being a distributor to a brand operator. In addition to its e-commerce endeavors, the company shifted its offline stores from small outdoor specialty shops to larger shopping mall locations.
| Source: Official Announcement
| Image Credit: Official Website
| Editor: LeZhi
