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 ...

Company Overview - Pelliot, officially known as 伯希和, is a high-performance outdoor lifestyle brand established in 2012, promoting a new outdoor lifestyle concept of "奔赴自然" [5] - The company aims to provide high-performance outdoor apparel and gear, with a product range that includes clothing, footwear, and accessories for various outdoor activities and urban commuting [5] Financial Performance - From 2022 to 2024, Pelliot's net sales are projected to grow at a compound annual growth rate (CAGR) of 122.2%, increasing from 351 million RMB to 1.733 billion RMB [7] - Revenue is expected to rise from 378 million RMB in 2022 to 1.766 billion RMB in 2024, with a CAGR of 115.86% [7] - Gross margin is anticipated to improve from 54.3% in 2022 to 59.6% in 2024, while adjusted net profit is expected to grow at a CAGR of 232% [7] Market Position - By 2024, Pelliot is projected to be one of the top three high-performance outdoor apparel brands in China, capturing a market share of 5.2% [7] - The outdoor apparel market in mainland China is expected to grow from 53.9 billion RMB in 2019 to 102.7 billion RMB in 2024, with a CAGR of 13.8% [14] Product and Sales Strategy - Pelliot's flagship product is the rain jacket, which has seen cumulative sales of approximately 3.8 million units from 2022 to 2024, with a CAGR of 144% [10] - The company employs a direct-to-consumer (DTC) multi-channel sales model, with online DTC sales revenue increasing from 331 million RMB in 2022 to 1.351 billion RMB in 2024 [10] - As of the end of 2024, Pelliot has established over 100 stores in mainland China, with offline DTC sales revenue growing from 7.3 million RMB in 2022 to 169 million RMB in 2024 [10] Investment and Shareholding - Pelliot has completed two rounds of financing, with notable investors including Tencent, which invested 300 million RMB in March 2025, holding a 10.7% stake [9] - The company's valuation reached approximately 2.8 billion RMB following the last financing round [9] Research and Development - Pelliot has a dedicated technology platform, PT-China, established in 2013, focusing on innovation in outdoor apparel [12] - R&D expenditures are projected to increase from 13.6 million RMB in 2022 to 31.5 million RMB in 2024 [12]