(Yicai Global) May 10 -- Sanfo Outdoor Products’ shares jumped after the Chinese specialty outdoor retailer said it will start using Gore-Tex high-end fabrics in its X-Bionic sportswear brand this fall and winter.
Sanfo [SHE: 002780] closed 4.7 percent higher today at CNY15.46 (USD2.41), after earlier gaining as much as 6.8 percent.
Sanfo has signed a cooperation agreement with W. L. Gore and Associates, the Beijing-based company said in a statement late yesterday, without disclosing any financial details.
The company’s X-Bionic sportswear brand will use Gore-Tex materials and trademarks in high-end apparel for activities like skiing, running and mountaineering, as well as in casual business clothing such as windbreakers, jackets, down coats and cotton-padded items, Sanfo said.
The deal will also help consolidate X-Bionic’s luxury brand positioning and promote the fall and winter sales of related products, it added. X-Bionic is a Swiss outdoor sportswear brand, and more than 20 national sports teams in Europe compete using its branded products.
Sanfo announced last August that it would spend almost CHF10.3 million (USD11.4 million) to acquire the intellectual property rights of X-Bionic-related trademarks, patents and professional technology, and become the brand’s owner in China.
Apart from providing outdoor sports gear, clothing and activity services, Sanfo is also a distributor of well-known overseas outdoor brands, including Mammut, La Sportiva and Mystery Ranch.
Editor: Peter Thomas