Asics sells Ownership of Haglöfs to Clarks’ Parent Company

By DaMarko Webster

It is evident that the Japanese management team, despite their inclination towards more urban pursuits, did not prioritize mountain hikes—an interesting perspective given their headquarters’ location in Bromma, on the outskirts of Stockholm, Sweden.

In a shift of focus over recent years, the Asics group, encompassing Onitsuka Tiger, directed its investment endeavors towards companies organizing running events, as well as digital and physical entities within the sector. There has also been a noteworthy uptick in investment towards the promotion and development of its lifestyle lines.

Operating independently for a considerable period, Haglöfs, founded in 1914 by Wiktor Haglöf, has not fully capitalized on the burgeoning interest in outdoor activities and the growth of the outdoor market. The brand’s new owner, a Hong Kong investment group through its LionRock Capital Aspire Limited fund, has secured 100% ownership of Haglöfs for an undisclosed sum.

Daniel Tseung, head of the fund, expressed satisfaction with the acquisition, stating, “Haglöfs fits perfectly into our portfolio and demonstrates our commitment to acquiring recognized heritage brands offering best-in-class products.” The fund, which also acquired Clarks in 2021, is eager to embark on a new journey with Haglöfs, aiming to accelerate its growth in the European market and beyond.

Haglöfs, renowned for its diverse offerings in textiles and outdoor equipment, may witness expansion beyond its current presence in 28 markets. Even in the face of the Covid-19 crisis, with a business worth approximately €80 million, the brand inaugurated a new 18,000 square meter logistics center last year. Fredrik Ohlsson, CEO of Haglöfs, expressed enthusiasm about the partnership with LionRock, stating, “Asics has been a supportive and actively involved partner, providing invaluable support throughout our shared journey. We are delighted to begin a new chapter with LionRock as a shareholder and look forward to being part of the LionRock family.”