Suunto sold to Chinese wearables firm Liesheng
Finnish dive watch-maker Suunto has been sold to Chinese wearable technology company Liesheng. Suunto’s parent company Amer Sports, which itself was acquired by a Chinese investor consortium in 2018, says it has agreed on a transaction that is expected to close in H1 2022.
Founded in Guangdong in 2015, Liesheng currently sells its products in more than 100 countries around the world.
“The acquisition of Suunto is an important part of our growth strategy, and we see great synergies between the two companies,” says Ma Hao, chairman of Liesheng. “As a global consumer-electronics company, Liesheng offers Suunto unique technological advantages in product development, centralised sourcing, and access to wider international markets, especially in Asia. For Liesheng, Suunto offers access to new markets and product categories, in addition to Suunto’s strong brand heritage.”
Heikki Norta, CEO and brand president of Suunto, reassures customers that he doesn’t anticipate anything about the brand changing.
“For you as a fan, community member and user of Suunto this change is actually not a change at all. Suunto brand and our products and digital services, watch update frequency, data protection practices, customer support and service – all of these and more continue normally”, says Norta. “We stay committed and focused on developing our high-end products, inspiring adventurous lifestyle and on protecting our playground.”
Liesheng has indicated that Suunto will continue to run its operations from Vantaa, Finland.