Salomon owner Amer Sports wants to raise up to $1.8 billion through IPO – Footwear News

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Amer Sports, Inc. aims to raise up to $1.8 billion in its initial public offering (IPO) in the United States.

The Finnish company, which includes the Salomon, Arc'Teryx, Wilson, Peak Performance and Atomic brands, launched its initial public offering on Monday with plans to offer 100 million common shares at a price between $16 and $18 per share. The company was admitted to listing on the New York Stock Exchange with the ticker symbol “AS”. The company filed a statement with the SEC earlier this month announcing its planned initial public offering.

According to Reuters, Amer Sports is seeking a valuation of up to $8.7 billion.

According to an F-1 filing Monday with the U.S. Securities and Exchange Commission, Amer's revenue for the nine months ended Sept. 30 was $3.1 billion, up 29, 9 percent compared to the same period in 2022. Gross margin increased from 49.4 percent to 52.2 percent. The company also reported preliminary 2023 results that included revenue of $3.55 billion and a net loss of $252.7 million.

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Salomon in particular had a standout year in 2023, helped by Rihanna's Super Bowl performance where she wore the MM6 Maison Margiela x Salomon Cross Low sneakers. For the nine months ended September 30, 2023, Salomon's revenue was $949.3 million. According to StockX, Salomon was the fastest growing sneaker brand in the market in 2022, recording 2,277 percent trading growth in 2022 compared to 2021.

“Salomon intends to continue to leverage its world-class innovation capabilities to improve existing product lines and develop new products to drive growth and increase market share,” said the filing, which outlines a broader strategy to grow its remaining brands as well is presented by Amer.

Amer's filing marks one of the first major shoe IPOs in 2024, following Birkenstock's IPO in late 2023. While IPO activity was largely muted throughout 2023, it has begun to recover in recent months and is expected to accelerate in the second half of 2024. Heading into In 2024, Golden Goose, Shein and Skims are among the most anticipated retail and fashion IPOs to keep an eye on.