Jan 5, 2024 - Business

Wilson tennis racket maker Amer Sports files for IPO

Illustration of a sparkling golden tennis racket leaned against a tennis net.

Illustration: Aïda Amer/Axios

Amer Sports, a Finnish maker of Wilson tennis rackets and other sports gear, filed for an IPO that's estimated to raise more than $1 billion.

Why it matters: It looks like we'll get some blockbuster IPOs in early 2024, after a molasses-drenched 2023, with Amer coming on the heels of the recent filing by KKR-backed BrightSpring Health.

Details: Amer is owned by China's Anta Sports Products. In addition to Wilson rackets, its products include Salomon ski equipment, Louisville Slugger bats, and apparel under the Arc'teryx and Atomic brands.

  • The company reports a $114 million net loss on $3 billion in revenue for the first nine months of 2023, compared to a $104 million net loss on $2.35 billion in revenue during the year-earlier period.
  • Amer has over 250 physical retail locations and more than 10,000 employees.

The bottom line: Unlike other outdoor gear makers whose post-pandemic fortunes have sagged, Amer has continued growing thanks to a Greater China business that now makes up nearly 20% of revenue. But trade tensions could cause that exposure to become a double-edged ski.

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