A day after Callaway Golf announced a deal to sell the Idstein, Germany-based Jack Wolfskin business (Callaway Germany Holdco GmbH) to Anta Sports Products, Ltd. (Anta, Group), several questions remain about where the brand fits within the Group’s portfolio (see link at bottom).

Anta Sports Products, Ltd. is the majority shareholder and controls the Board of Directors of Amer Sports, the owner of the Arc’teryx, Park Performance, Wilson, Evoshield, Louisville Slugger, Atomic, Armada, and Salomon brands. The company also owns retail stores in China for the Anta, Fila, Descente, and Kolon Sport brands, as well as the Amer Sports brands.

Where Wolfskin fits within this collection of brands is a valid inquiry.

Jack Wolfskin has sold into the Chinese outdoor market since 2008. The brand reports that China is one of its “most significant sales regions.”

Anta has hinted at plans for the Jack Wolfskin brand, but it won’t develop that positioning in a vacuum. The company has a very good partner, Matthew Jung, Jack Wolfskin’s global president and CEO, who started with the company in early 2022 as GM for China before ascending to his current role in January 2024.

Before Wolfskin, Jung reportedly served in executive roles in the Asian Pacific region for nearly 25 years and was responsible for implementing the company’s brand direction, developing China operations and developing the brand’s omni-channel strategy in China while driving growth.

“With many years of experience in the sporting goods industry in the Asia Pacific region, Matthew has a deep understanding of the Chinese market,” said Joe Flannery, who was EVP of apparel and softgoods for Callaway Golf when the company acquired Jack Wolfskin, a position he served in until May 2024. “He has a strong track record and invaluable experience in leading international teams and successfully positioning global brands in Asia. We have high expectations for this market and are confident that Matthew will help Jack Wolfskin achieve its potential by building on the momentum that Karen produced for the brand over the past several years. We commend her and wish her continued success.”

Before Jack Wolfskin, Jung worked at Nike, Inc., last serving as VP/GM for Converse Asia. Before this, he spent six years as a senior brand director at Nike Greater China and marketing director at Nike Taiwan, based in Hong Kong. Even before Jung entered the active lifestyle business in 2010, he grew his Asia resume with marketing positions with W Hotels and other companies, all based out of Hong Kong. He knows the market.

“Consumers in China are shifting toward the outdoor lifestyle at unprecedented speed and scale,” Jung said in 2022. “The timing for such an authentic brand like Jack Wolfskin to take a leadership position in this sector is based on the company’s 40 years of delivering industry-defining innovation, performance, approachability, and sustainability. I regard it as a privilege to join such a passionate and talented team across the world and anchor such a great brand.

Anta understands building a brand’s presence in the world’s second-largest economy. Reference the rapid growth of Arc’teryx, driven primarily by growth in China, as an example of what the company has done.

As for that hint about positioning, Anta said Jack Wolfskin products are “renowned for their optimized functionality, high quality and exceptional innovation, harnessing German engineering, technology and design. The company also said Wolfskin owns a versatile portfolio of “smartly and sustainably engineered” technologies, including its popular Texapore group of materials.

“Under the philosophy of enabling everyone to partake in outdoor experiences through endless discovery, Jack Wolfskin is dedicated to providing innovative and sustainable solutions for apparel, footwear and equipment that help individuals extend and deepen their outdoor experiences,” Anta shared.

Anta said in its note filed with the Hong Kong exchange that the Jack Wolfskin acquisition aligns with the Group’s “single-focus, multi-brand, globalization” strategy and presents opportunities to further strengthen and grow the Group’s outdoor sports segment.

“Its addition complements the Group’s existing brand portfolio, extending the Group’s outdoor product offering from premium to mass market while enriching product solutions for a broader set of outdoor activities,“ the company wrote.

Anta said it also stands to benefit from Jack Wolfskin’s exclusive material technologies and the extensive experience of its German engineering and design team, further bolstering the Group’s competitiveness in the outdoor sports segment.

The inclusion of the term “mass market“ may be important here as Arc’teryx owns the Chinese premium retail market for Anta. Positioning Wolfskin on the lower end, at least in China, would ensure the brands do not compete head-to-head while still taking advantage of Anta’s retail footprint in the region. However, it is also clear in what has been said that the company also sees some value in Wolfskin’s technology and its solid foothold in Europe.

“By leveraging both the Group’s and Jack Wolfskin’s strengths, there exists the potential to unlock various synergies in supply chain, product development, retail operation, and other areas post-closing,“ Anta said.

“Moreover, Jack Wolfskin is one of the leading specialists in outdoor apparel, footwear and equipment with a strong presence in Europe, particularly Germany,“ Anta Chairman Ding Shizhong wrote. “Integrating Jack Wolfskin is another step forward in the Group’s global expansion strategy.”

Anta said it would develop more concrete plans following the closing of the Jack Wolfskin acquisition.

Anta confirmed in a note that it conditionally agreed to purchase 100 percent equity interests in Callaway Germany Holdco GmbH for a base price of $290 million in cash, subject to net working capital and other customary adjustments. The Hong Kong-based Anta also confirmed that the deal would close in the late second quarter or early third quarter of 2025. Upon completion of the acquisition, Jack Wolfskin will become an indirect wholly-owned subsidiary of the company.

Image courtesy Jack Wolfskin

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See below for additional SGB Media coverage of the Jack Wolfskin acquisition.

EXEC: Callaway to Sell Jack Wolfskin to Amer Sports’ Chinese Parent