Core Insights - The article highlights a contrast between the negative public perception of the brand "Arc'teryx" following the "fireworks" incident and its strong financial performance, with a net profit increase of 161% to $185 million and a 47% revenue growth in Greater China to $462 million in Q3 [1][2]. Group 1: Financial Performance - Amer Sports reported a 30% year-over-year increase in overall revenue to $1.756 billion, with a significant net profit increase of 161% to $185 million [2]. - The Greater China revenue for Amer Sports grew by 47% to $462 million, indicating strong market performance [2]. - The technical apparel segment, led by Arc'teryx, saw a revenue increase of 31% to $683 million [2]. Group 2: Store Expansion and Brand Strategy - Amer Sports has aggressively expanded its store network, reaching a total of 631 owned stores globally, a 39% increase year-over-year [3]. - The brand positioning of Arc'teryx is evolving from a pure outdoor equipment retailer to a space that integrates outdoor technology with urban lifestyle [3]. - The rapid expansion of physical stores helps mitigate the negative impact of online controversies by allowing consumers to experience products firsthand [3]. Group 3: Competitive Landscape - The high-end outdoor market is becoming increasingly competitive, with three main segments: international high-end brands led by Arc'teryx, international mass-market brands like The North Face and Columbia, and domestic brands such as Anta and KAILAS [5]. - Arc'teryx fell out of the top 20 in Tmall's "Double 11" outdoor sales rankings, while more affordable domestic brands gained traction [5]. Group 4: Future Growth and Challenges - Amer Sports anticipates a revenue growth of 23% to 24% by 2025, but investors remain cautious [6]. - The sustainability and exploration ethos that support the premium pricing of high-end outdoor brands are under scrutiny, which could affect brand perception and sales [6].