Skiing brand Rossignol Group has signed an agreement with IDG Capital, a US-based, China-focused investment firm, to launch the brand through Chinese retailers.
China’s sports tourism market has had double-digit growth since 2011, and growth forecasts over the next five years are in the order of 30 per cent, according to a PWC study. Introduced in 1995 in China, skiing is the spearhead of this exponential development, particularly since the announcement of the 2022 Olympic Winter Games in Beijing.
The winter sports market in China should reach RMB100 billion (€13.7 billion by 2025). The equipment alone would represent RMB16 billion for the same period.
Through a capital increase leading to a 20 per cent ownership in the company, IDG Capital will use its expertise to support the development of the French group in the Chinese market. Founded in 1992, IDG Capital was the first foreign investment firm to enter the Chinese market. It has contributed to the growth of more than 700 major companies in China, including Baidu, Tencent and Xiaomi, as well as to the development of international companies such as Moncler, Farfetch, Olympique Lyonnais FC or InFront.