Amer Sports (AS) Investor Day 2025 summary

Strategic achievements and transformation

• Doubled business size to over $5B in 2024, with Arc'teryx quadrupling since 2019 and three brands surpassing $1B each in 2023-2024.

• Direct-to-consumer (DTC) now represents 50% of sales, up from 15% in 2020, with 550 owned retail stores globally.

• China sales grew from under 10% to 25% of group sales in five years, with Arc'teryx now the #1 outdoor brand in China.

• IPO in February 2024 and a secondary capital raise reduced debt leverage.

• Shifted from a matrix to a brand-direct model, empowering brand CEOs for end-to-end value creation.

Brand vision, product innovation, and growth pillars

• Arc'teryx targets $5B in sales by 2030, with potential beyond, driven by structural growth across channels, geographies, and categories.

• Focus on technical innovation, athlete-led design, and rapid prototyping, with a global design network in Vancouver, Portland, and Tokyo.

• Four design principles: authenticity, function, beauty, and responsibility, with circularity and repairability as core tenets.

• Advanced Concepts team drives disruptive innovation, IP, and partnerships (e.g., Gore, Apple, MIT), launching the Mountain Athlete Lab for R&D.

• DTC transformation: from 80% wholesale to 80% DTC, now expanding global store count from 150 to 300+ by 2030, with e-commerce and retail synergy.

Key growth categories and business units

• Women's business outpaces the brand, growing 35%+ YoY, aiming for 30% of sales by 2030, with dedicated design and marketing.

• Footwear, launched 18 months ago, has delivered $250M+ revenue and 43% growth last quarter, with a new Portland-based business unit and plans to reach 13% of sales in five years.

• Veilance, the city/lifestyle sub-brand, is now 5% of sales, targeting 7% and a major women's expansion, with standalone retail and digital growth.