20亿，收购狂安踏又拿下了狼爪

Core Insights - Anta Sports has successfully crossed the 100 billion RMB revenue mark, significantly aided by acquisitions, including the recent purchase of the German outdoor brand Jack Wolfskin for approximately 2.9 billion USD (around 21.29 billion RMB) [2][3][11] - The acquisition aligns with Anta's strategy to diversify its brand portfolio and cater to the growing demand for differentiated outdoor products in the global sports consumption market [3][4][5] Acquisition Details - Anta announced the full acquisition of Jack Wolfskin on April 10, with the deal expected to close by the second or third quarter of 2025, pending customary conditions [3][4] - The acquisition is part of Anta's broader strategy to enhance its presence in the outdoor market, which has seen a 15.8% growth in China, reaching a market size of 248 billion RMB in 2022, and is projected to exceed 400 billion RMB by 2025 [4][5] Brand Positioning - Jack Wolfskin is positioned as a mass-market outdoor brand, which complements Anta's existing high-end outdoor brands, allowing for a broader consumer reach [5][6] - The brand's established technology and environmental initiatives, such as the TEXAPORE membrane technology and the Ecosphere series, will enhance Anta's competitive edge in the outdoor segment [6][8] Market Penetration - Jack Wolfskin has a significant presence in Europe, with 495 stores globally, including 226 in Europe and 269 in Asia, which will provide Anta with valuable distribution channels [8][9] - The acquisition marks a milestone in Anta's globalization efforts, transitioning from merely acquiring foreign brands to establishing a foothold in international markets [8][10] Operational Strategy - Anta plans to leverage its strong operational capabilities to reposition and revitalize Jack Wolfskin, drawing from its successful track record with other brands like FILA [10][11] - The company has developed a robust multi-brand management system that will facilitate the integration and growth of Jack Wolfskin within its portfolio [10][11] Historical Context - Jack Wolfskin has experienced multiple ownership changes and operational challenges in China, which have diluted its brand value [13][14] - The brand's previous struggles highlight the importance of Anta's strategic management and localization efforts to restore its market position [14][15]