Amer Sports, the parent of Mavic and now ENVE, has posted sales up 10% year on year, but slightly down in Q1 to the tune of 2%.
Following the $50 million February purchase of carbon experts ENVE, sales for the label are as yet to be included in the group’s financial reports and won’t feature in full until 2017. In 2015 ENVE’s sales were worth around $30 million.
Among five key areas flagged by Amer for development this year, an acceleration of business to consumer trade is planned, alongside a focus on growth in the USA and China.
Heikki Takala, Amer’s CEO said: “We started 2016 with solid profitable growth as we continued to successfully accelerate especially in our five priority areas: Apparel & Footwear, USA, China, Business to Consumer, and Digital. Gross margin was very healthy, supported by clean inventory and pricing ahead of currency related pressures. The improved gross margin enabled us to invest back into acceleration especially in Digital and Business to Consumer. Our growth was further boosted by the 2015 acquisitions of Louisville Slugger and Queenax. To re-ignite growth in our Cycling category, we announced the acquisition of ENVE Composites LLC which we are now integrating for growth, scale and synergies.
“The trading conditions have remained challenging with disruptions in the retailer landscape. We work relentlessly to anticipate and mitigate these challenges, whilst we build the company fundamentals and accelerate guided by our strategic targets and priorities.”
Amer’s Q1 report and 2016 outlook can be seen here.