MILAN — Rossignol Group is looking to expand its presence in the fast-growing Chinese market.
The French winter sports equipment’s specialist has inked a deal with American private equity fund IDG Capital with the aim of easing the group’s entry into China.
To this end, the private equity firm has taken a 20 percent stake in the group through a capital increase. Terms of the deal were not disclosed.
“We are glad we can rely on IDG Capital’s know-how and expertise. We are strongly committed to contributing to the expansion of the outdoor sports market in that region and to assume a leading role. The background is particularly appealing, with the ever-increasing number of government initiatives and the customers’ growing demand in the wake of the upcoming Winter Olympic Games in 2022,” said Bruno Cercley, president and chief executive officer of Rossignol Group, which is owned by Stockholm-based private equity company Altor since 2013.
Alexandre Quirici, a partner at IDG Capital, echoed Cercley, highlighting Rossignol Group’s “heritage, know-how and exceptional technology in the outdoor sportswear segment,” he said. “We are looking forward to working closely with Rossignol Group to further grow in China.”
According to a recent PWC study, the winter sports-related market in China has registered a double-digit growth over the past seven years and it is expected to reach revenues of 13.7 billion euros by 2025.
Based in Grenoble, France, Rossignol Group controls a diversified portfolio of brands, including the subsidiary Rossignol Apparel, established in 2015 to expand into apparel, ski specialist Dynastar and knitwear label Dale of Norway, which was acquired by the group in 2017.