Chinese tech firm to take ownership of Suunto
Amer Sports has announced that it is selling its Suunto brand to Chinese group Liesheng.
Founded in Finland in 1936 as a manufacturer of compasses, Suunto has developed into an important wearable technology brand, specialising in sport watches, dive computers and precision instruments.
Chinese group Anta Sports became the controlling shareholder of Amer Sports in 2019. It has said it wants to focus on developing the lifestyle, apparel, and footwear segments of Amer’s brands, which include Salomon, Arc’teryx, Wilson and Peak Performance. It has also said it wants to shift the business more to direct-to-consumer channels and enhance its presence in China and the US.
Amer said Suunto was no longer part of its core focus. Its chief operating officer, Michael Hauge Sørensen, said that, after a careful review, the group had concluded that it would be best for Suunto to have a new owner. He said Guangdong-based Liesheng, which has a strong foundation in technology and in research and development, would be “a good fit”.
The transaction is expected to close in the first half of 2022.
