HELSINKI, Finland (BRAIN) Jan 31, 14:32 MT— Mavic ended 2011 up 14 percent in sales, following fourth quarter growth of 17 percent, according to earnings released Tuesday by its parent company Amer Sports.
Mavic’s full year revenue tallied 120.5 million euros ($157.6 million) up from 106.4 million euros ($139.2 million) in 2010. Rims, wheels and pedals accounted for 83 percent of net sales while cycling apparel and footwear represented the remaining 17 percent. Mavic’s apparel and footwear segment rose 24 percent in sales over 2010, and rims, wheels and pedals jumped 11 percent.
In 2011, EMEA (Europe, the Middle East and Africa) was by far Mavic’s strongest market with 64 percent of total sales. An additional 19 percent came from Asia Pacific and 17 percent from the Americas. Sales in Asia Pacific—an emerging and promising market for many industry brands—fell 9 percent last year, although the Americas saw a 26 percent increase and EMEA rose 18 percent.
Last year, cycling represented 10.6 percent of total sales in Amer Sports’ Winter and Outdoor segment, which was up 12 percent in sales for the year.
Mavic wrapped the year with a fourth-quarter revenue increase of 17 percent—from 26.8 million euros ($35 million) in 2010 to 29.5 million euros ($38.6 million) for the same time period last year.
Heikki Takala, president and CEO of Amer, said the company’s goal this year relative to its cycling business is to continue driving profitable growth. Amer is also pinpointing expansion of its Action Sports segment with the recent acquisition of Nikita women’s snowboard apparel to complement Salomon snowboards and Bonfire apparel.
Amer owns Salomon, Wilson, Precor, Atomic, Suunto, Mavic, Arc’teryx and Nikita.