French winter sports brand Rossignol Group has partnered with investment firm IDG Capital to seize development opportunities in the Chinese market.
Through a capital increase leading to a 20-percent ownership in Rossignol, IDG Capital will use its expertise to support the development of the French group In the Chinese market, according to a Rossignol statement.
Rossignol aims to leverage the partnership to offer Chinese consumers its know-how of winter sports and become the reference brand in Asia by the Beijing 2022 Olympic Games.
The winter sports market in China should reach 100 billion yuan (13.7 billion euros) by 2025, according to the statement.
"Together, we have a unique opportunity to serve a new wave of winter sports enthusiasts in China," said Bruno Cercley, president and CEO of Rossignol Group.