每经评论员 孙宇婷 环境保护议题在全球范围内，特别是中国市场的重要性日益凸显。现代消费者，尤其是年轻一代，对品 牌的期待已超越产品功能本身，他们更关注品牌价值观和社会责任。在这种背景下，一个户外品牌在中 国的重要生态屏障进行可能影响环境的艺术项目，本身就显示出对当代消费者价值观的误判。而这种误 判，根源在于品牌本地化团队与全球管理层的沟通隔阂，以及战略监管的缺失。 品牌价值的建立需要长期积累，而破坏可能只在一夕之间。一次不当的品牌活动，不仅会影响始祖鸟在 消费者心中的高端户外形象，也会波及其所属的整个品牌矩阵的声誉。这种"品牌涟漪效应"在多品牌运 营中尤为明显，需要更加精细化的品牌管理和危机应对机制。 从企业治理角度看，这次事件为所有通过跨国运营实现全球化扩张的企业敲响了警钟。国际化不仅仅是 市场拓展，更是文化整合、管理协同和价值共建的复杂过程。真正的"管得好"和"协同好"需要建立现代 化的全球企业治理结构，包括统一的品牌价值观、有效的跨文化沟通机制和敏捷的危机应对体系。 始祖鸟烟花事件最终会随着时间流逝而淡出公众视野，但它所暴露的跨国企业在全球化治理中的挑战却 值得长期关注。作为一家具有全球影响力的高端户外 ...

Core Viewpoint - The outdoor brand Arc'teryx faced significant backlash after a controversial fireworks display in the Himalayas, leading to public apologies and a commitment to environmental assessments and actions [1][2][5]. Company Response - Arc'teryx and artist Cai Guoqiang issued apologies, acknowledging the public's concerns regarding ecological impacts and committing to cooperate with third-party evaluations of the environmental effects of the fireworks [2][3]. - The company emphasized the need for a more professional assessment of artistic expressions and a deeper respect for nature, recognizing that their initial intentions did not align with the outcomes [3]. Environmental Impact Concerns - Experts highlighted the negative environmental consequences of fireworks in fragile ecosystems like the Himalayas, questioning the validity of claims regarding biodegradable materials and ecological protection [4][5]. - The ecological significance of the Tibetan Plateau was underscored, noting its role as a habitat for endangered species and the challenges of environmental recovery in high-altitude areas [3][4]. Market Implications - The incident serves as a cautionary tale for brands attempting to leverage artistic marketing while neglecting environmental responsibilities, suggesting that consumer trust is increasingly tied to genuine commitments to sustainability [5][6]. - Arc'teryx's parent company, Amer Sports, is set to go public in early 2024, and the fallout from this incident may impact its market positioning and consumer perception [5][6].

智通财经记者 邵冰燕 实习生 邢玉珠 户外品牌始祖鸟与艺术家蔡国强，联合在西藏喜马拉雅山脉以"敬畏自然"的名义举行了一场大型烟花 秀，结果引发巨大争议。今天（9月21日），多方回应始祖鸟联合艺术家在喜马拉雅山脉放烟花的争 议。 "云端珠峰"微信公众号发布情况通报指出，日喀则市委、市政府高度重视，已成立调查组第一时间赶赴 现场核查，后续将根据核查结果依法依规处理。 9月19日，户外品牌始祖鸟与艺术家蔡国强联合在西藏喜马拉雅山脉点燃大型烟花《升龙》。在当日发 布的预告中，始祖鸟方面表示，走进喜马拉雅深处，向上、与更大的空间对话。秉承对自然的敬畏，以 艺术为媒，共缔高山信仰。 但网友指责上述活动欠缺考虑，无视喜马拉雅山脉环境。 始祖鸟在致歉信中指出，"近期品牌赞助的蔡国强 《升龙》艺术项目引发了广泛的公众讨论，该项目本 是希望通过艺术家的创作，提升对高山在地文化的关注。尽管怀揣这样的初心，在作品呈现过程中仍出 现偏差甚至偏离。大家的肺腑之言让我们警醒：对艺术表达边界的评估需要更加专业，对自然的敬畏需 要更加谦卑。" 始祖鸟指出，"我们深知仅仅道歉是远远不够的，我们有责任在政府部门监管下，配合艺术家团队对该 项目全过 ...

PresentationOmar SaadSenior Vice President of Group Investor Relations & Capital Markets Good morning, everyone. To everyone here in person and online and the webcast, thanks for joining us for the Amer Sports 2025 Investor Day. My name is Omar Saad, and it's my pleasure to welcome you here to the [ Nest ], the most recent addition to the Arc'teryx headquarters in North Vancouver. This dynamic community space was created to inspire the team, connect people across the functions and showcase the brand. Perfec ...

（亚玛芬体育） 近日，亚玛芬体育上调2025年第三季度业绩指引，预计2025年第三季度收入同比增长超20%，而此前的 预测收入将同比增长约20%。此外，预计调整后的营业利润率将达到或高于之前12%-13%的指导范围的 高点。 亚玛芬体育首席执行官James Zheng表示："预计在萨洛蒙和始祖鸟的推动下，公司将在第三季度取得良 好业绩。" ...

Amer Sports (NYSE:AS) 2025 Investor Day September 18, 2025 12:00 PM ET Company ParticipantsOmar Saad - SVP - Group IR & Capital MarketsJames Zheng - CEO & DirectorStuart Haselden - CEOKatie Becker - Chief Creative OfficerAlexandra Plante - VP - Advanced ConceptsRenée Augustine - Senior VP & GM - FootwearMarissa Pardini - General Manager - VeilanceDominique Showers - VP - ReBirdKyle Wood - Senior Director StrategyKarl Aaker - Senior VP - Brand MarketingDelaney Schweitzer - Chief Commercial OfficerNone - Exec ...

Core Viewpoint - Amer Sports Inc. has revised its financial outlook, projecting significant revenue growth and improved operating margins through 2025 and beyond [1][2]. Financial Projections - The company anticipates third-quarter 2025 revenue growth in the high-20s percentage range compared to the previous year, exceeding the earlier forecast of about 20% [1]. - Adjusted operating margin is expected to be at or above the upper end of the previous range of 12% to 13% [1]. Long-term Financial Framework - Amer Sports has established a new financial framework targeting annual revenue CAGR growth in the low double digits to mid-teens, with operating margin expansion of 30 to over 70 basis points [2]. - The effective tax rate is projected to approach 25% [2]. Segment Performance Expectations - By segment, the company expects mid-teens revenue CAGR growth in technical apparel, low double-digit to mid-teens growth in outdoor performance, and mid-single-digit growth in ball and racquet [3]. - Adjusted operating margins are projected to improve by 20–60 basis points for technical apparel, 40–80 basis points for outdoor performance, and 40–80 basis points for ball and racquet [3]. Recent Earnings Report - In August, Amer Sports reported second-quarter earnings of 6 cents per share, surpassing the analyst consensus estimate of 3 cents [4]. - The revenue for the quarter was $1.24 billion, exceeding expectations of $1.18 billion [4]. - CEO James Zheng expressed confidence in strong third-quarter results across all segments, particularly from Salomon Softgoods and Arc'teryx [4]. Stock Performance - Following the positive earnings report and outlook, Amer Sports shares were trading higher by 5.34% to $39.07 [5].

Core Insights - Amer Sports, Inc. (NYSE:AS) is recognized as one of the best-performing European stocks, with HSBC raising its price target from $38 to $50 and upgrading the stock from Hold to Buy, acknowledging previous underestimations of the company's growth potential [1][2]. Company Overview - Amer Sports, Inc. is a multinational athletic goods corporation based in Helsinki, Finland, owning a diverse portfolio of brands including Atomic, Arc'teryx, Armada, Enve Composites, Peak Performance, Salomon, and Wilson [3]. Market Performance - The Arc'teryx brand and the Greater China market were previously the main growth drivers for Amer Sports, but HSBC notes that the company's success is now expanding into other portfolio areas and Asian markets [2]. - Salomon's soft products have demonstrated strong sequential growth over the past three years, achieving a low-double-digit sales compound annual growth rate (CAGR) in the Outdoor Performance category [2].

Core Viewpoint - Anta Group's subsidiary Amer Sports reported a significant increase in net profit for the first half of 2025, exceeding market expectations with a year-on-year growth of 3047.06% [1] Financial Performance - Amer Sports' revenue increased by 23.46% from approximately $2.194 billion in the same period last year to $2.708 billion (approximately 19.457 billion RMB) [1] - The net profit for the first half of 2025 reached $161 million (approximately 1.157 billion RMB), a substantial increase from $5.1 million in the previous year [1] Market Analysis - In the second quarter, Amer Sports' revenue from the China market surpassed that of North America, achieving $410 million [1] - The Asia-Pacific region, excluding China, saw a revenue growth of 45%, leading the global market [1] - The synergistic effect of Amer Sports' brand matrix is being realized, with Salomon's growth outpacing Arc'teryx, becoming a new growth engine for the group [1] Future Outlook - Based on the strong performance in the first half of the year, Amer Sports has raised its full-year performance guidance, expecting a revenue growth of 20% to 21% for the fiscal year 2025 [1]

Group 1 - Chip Wilson, founder of Lululemon Athletica, sold shares of Amer Sports for $159.7 million, marking his latest move to liquidate equity [1] - Wilson reduced his stake in Amer Sports by approximately 4 million shares, representing 0.7% of the company's total equity, without disclosing the purpose of the funds [1] - Over the past year, Wilson has pledged Lululemon shares for cash three times, securing over $500 million in available funds from multiple banks, while not using Amer Sports shares for pledging [1] Group 2 - Wilson was part of a consortium led by Anta Sports that privatized Amer Sports in 2019 and has since driven its premium transformation, focusing on products like skis and tennis rackets [1] - Amer Sports has seen a remarkable stock performance since its NYSE listing last year, with a cumulative increase of over 200% [1] - Wilson currently holds about 18% of Amer Sports, which constitutes half of his net worth of $8 billion, according to Bloomberg Billionaires Index [1] Group 3 - The recent share reduction occurred while Amer Sports' stock price is at a historical high, with ongoing market interest in its expansion in China and global strategy [2] - The demand for high-end sports equipment from China's growing middle class is a key factor supporting Amer Sports' valuation [2] - As of the report, Amer Sports' stock was down nearly 2% in pre-market trading, priced at $40.20 [2]