Chongqing - Global recognition has yet to translate into mass-market awareness for Mammut in China. Two years after opening its first southwestern China store in Chongqing, the Swiss outdoor brand remains relatively unfamiliar to mainstream consumers.
The Mammut store at MixC Mall Chongqing. (Photo/Zheng Ran)
During a visit on August 4, a store employee said Mammut still had relatively limited recognition among general consumers, partly because it rarely conducted large-scale marketing campaigns.
"Mammut is not as widely known as Arc'teryx, which Anta acquired, but people who understand outdoor brands tend to like it," the employee said, adding that Mammut appeared to have stronger recognition in overseas markets.
Descente and Arc'teryx stores stand side by side at MixC Chongqing, both part of Anta's expanding outdoor brand portfolio. (Photo/Zheng Ran)
The comments came days after Chinese asset manager CPE announced on July 30 that it had signed an agreement with European private equity firm Jacobs Capital to acquire Mammut in full. The companies did not disclose the transaction price, although market estimates placed the 164-year-old brand’s valuation at between 500 million and 600 million euros.
The Chongqing outlet highlights the task facing Mammut’s new owner: translating the brand’s heritage, technical strengths and global following into broader reach and a stronger retail presence across China.
Founded in 1862, Mammut makes products for mountaineering, hiking, climbing, trail running and avalanche safety. After the acquisition, the company will retain its headquarters in Seon, Switzerland, as well as its core design and research operations and existing management team. Chief Executive Heiko Schäfer and other senior executives will continue to manage its global business.
CPE Managing Director Mao Weiyi said the investor would protect Mammut's internationally recognized brand value, technology and heritage while supporting its expansion.
"Drawing on our investment experience, global perspective and extensive networks in China and the Asia-Pacific region, we will work closely with Mammut's management team to accelerate growth in high-potential markets through product adaptation, brand operations, channel development and supply-chain upgrades," Mao said.
CPE originated from CITIC Private Equity and has invested across technology, industry, consumer services, health care and infrastructure over the past 18 years. Its consumer investments have included Burger King China, beverage chain Mixue Group, toy company Pop Mart, jewelry retailer Laopu Gold and beauty-services provider Beauty Farm.
Before the acquisition, Mammut had already expanded its global and Chinese operations following a restructuring led by Jacobs Capital in 2021. It signed distribution partnerships across North America, Eastern Europe, Southeast Asia and South Africa during 2025 and 2026, and its products are now available in over 50 countries and regions.
China has become one of the company's fastest-growing markets. Mammut had 61 stores in the country in 2024 and now operates 89.
China heads outdoors, and global brands follow the money
Mammut has also adjusted its product strategy as China's outdoor market expands beyond traditional mountaineering. The company entered China in 2013 with a focus on technical climbing and long-distance trekking. It launched its complete Aenergy Trail apparel line in 2023 and introduced new Aenergy Trail running shoes globally at a trail-running event in Xiamen in March 2026.
The company now operates across six categories in China: hiking, trail running, climbing, urban outdoor wear, mountaineering and its high-performance Eiger Extreme line. It also organizes hiking, climbing, trail-running, skiing and polar-expedition activities to maintain contact with consumer communities.
Those changes reflect broader growth in China's outdoor economy. The China Sporting Goods Federation said sales of outdoor, mountaineering, camping and travel products reached 142.37 billion yuan (about 21.08 billion U.S. dollars) in 2025, up 22.22%. Estimates put China's outdoor footwear and apparel market at more than 100 billion yuan, with annual compound growth exceeding 15%, and project it could approach 200 billion yuan by 2030.
Chinese companies have increasingly invested in established overseas brands rather than operating only as distributors. In 2019, a consortium led by Anta Sports and including FountainVest Partners and Tencent acquired Amer Sports for 4.6 billion euros. Amer owns Arc'teryx, Salomon and other sports brands. Anta also acquired German outdoor company Jack Wolfskin in 2025.
Amer Sports' performance shows the growing importance of Chinese consumers. According to its 2025 financial report, annual revenue rose 27% to $6.57 billion. Greater China revenue increased 43.4% to $1.86 billion, faster than growth in the Americas and Europe, the Middle East and Africa. Revenue from the technical apparel division led by Arc'teryx rose 30% to $2.86 billion, while Salomon's annual sales exceeded $2 billion for the first time.
Other deals have taken different forms. Chinese retailer Sanfo Outdoor formed a joint venture with Swedish brand Klättermusen in 2023, while Chinese companies have obtained ownership stakes, joint-venture interests or regional operating rights in brands including Haglöfs, Helly Hansen and Norrøna.
A Klättermusen store at MixC Mall in Chongqing. Chinese retailer Sanfo Outdoor formed a joint venture with the Swedish outdoor brand in 2023. (Photo/Zheng Ran)
Jiang Han, a senior researcher at Pangoal Institution, said Chinese capital was moving from distribution and regional operating agreements toward controlling stakes in global brands.
"Acquiring scarce brand assets at a reasonable valuation and using China's supply chains and channel networks to release their value offers relatively predictable potential," Jiang said. "An acquisition is only the starting point. The key is how the brand is operated afterward."