After discounting its listing, the sportswear group, which also owns Arc’teryx and Wilson, became the latest big fashion company to confront the tepid US IPO market.
The lines between functionality and style will continue to blur as consumers continue to embrace ”gorpcore” and competition increases among technical outdoor wear players, according to The State of Fashion 2024.
Amer Sports, the owner of Arc’teryx and Salomon is eyeing a US listing at a $10 billion valuation, even as fashion may be moving on from its outdoor fashion craze.
Brands like Asics, Hoka and Salomon have by some measures elbowed out basketball shoes as the secondhand market’s hottest sneakers.
Designers say fashion’s obsession with technical outerwear like hiking boots and cargo vests may have peaked. Noah’s Brendon Babenzien is the latest to abandon the trend in an upcoming collaboration with Puma.