ANTA SPORTS(HK:02020) Xin Lang Cai Jing·2025-12-03 02:24Core Viewpoint - Jack Wolfskin (狼爪) announced the closure of its flagship store on Xiaohongshu due to operational strategy adjustments, with the store expected to cease operations by December 31, 2025 [1][3]. Group 1: Company Background - Jack Wolfskin was founded in Germany in 1981 and is known for its functional outdoor products, covering activities such as hiking, cycling, skiing, and camping [3]. - The brand entered the Chinese market in 2007 and currently operates 376 stores globally, with 212 located in Asia as of August this year [3]. Group 2: Acquisition Details - Anta Sports (安踏体育) announced a full acquisition of Jack Wolfskin for a cash consideration of $290 million (approximately 2.1 billion RMB), with the transaction completed on June 2 [3]. - The acquisition price represents a nearly 40% decrease from the $476 million paid by Jack Wolfskin's previous parent company, Topgolf Callaway Brands Corp., in 2019, attributed to poor business performance [3]. Group 3: Strategic Adjustments - Following the acquisition, Anta aims to leverage Jack Wolfskin's unique material technology and German engineering expertise to enhance its competitiveness in the outdoor sports sector [3]. - Anta plans to develop a more specific implementation plan post-acquisition to achieve synergies in supply chain, product development, and retail operations [3]. Group 4: Market Positioning - Comments on the closure of the Xiaohongshu store suggest that the operational strategy adjustment is due to the need for Anta to reorganize product lines and sales channels [5]. - Anta already has established outdoor and sports brands like Arc'teryx and Descente, and Jack Wolfskin is positioned to fill a gap in the mid-to-high-end outdoor price segment [5]. - The closure of the Xiaohongshu store may be a strategic move to reduce non-core expenditures and focus on more effective sales channels, as platforms like Taobao and JD.com are better suited for mass outdoor brand sales [5]. Group 5: Current Operations - Despite the closure of the Xiaohongshu flagship store, Jack Wolfskin maintains official flagship stores on major e-commerce platforms such as Taobao, JD.com, and Vipshop [6]. - The Jack Wolfskin official flagship store on Taobao continues to sell a variety of products, including new autumn/winter waterproof jackets and sweatshirts, with promotional discounts available [6].