Ski season, CNY logic: How athleisure brands are stacking winter wins

As the 2026 winter sports season converges with Lunar New Year celebrations, brands are launching specialized ski collections and limited-edition Year of the Horse capsules. Bain Capital invests over 2 billion RMB in Andar On January 2, a filing with South Korea’s Financial Supervisory Service revealed that global private equity firm Bain Capital will acquire a controlling stake in Echo Marketing for approximately 500 billion won ($340.3 million). The target of the acquisition is Echo Marketing’s flagship athleisure brand Andar. Shares of Echo Marketing surged 30% on the day of the announcement, reflecting market confidence in the deal. The tender offer period ran from January 2 to January 21, 2026, with NH Investment & Securities as lead underwriter. The acquisition will proceed in two phases: Bain Capital will first purchase a 43.66% stake from the founder and affiliated parties for 216.6 billion won, then launch a tender offer for remaining shares at 16,000 won per share. Bain Capital has committed to purchasing all tendered shares. The firm also plans to delist Echo Marketing voluntarily, setting the stage for brand integration and strategic upgrades. Echo Marketing began as an online advertising agency, developing expertise in brand building and cross-border expansion. Founded in 2015, Andar experienced rapid growth after Echo Marketing acquired it in 2021. The brand has since become a leading South Korean athleisure player with strong domestic recognition and successful expansion into Japan, Australia and Singapore. This track record of success in a mature local market, combined with global growth potential, underpins Bain Capital’s acquisition rationale. Athleisure has emerged as a high-growth segment in the consumer sector, attracting sustained interest from private equity firms. Bain Capital’s acquisition of Andar’s parent company expands the firm’s global fashion footprint and strengthens its position in the Asian market. The deal reflects growing investor appetite for regionally successful athleisure brands with cross-border expansion potential, particularly those with strong brand identity and established regional market presence. Consumer response Clara Zhuang, fashion industry professional Bain Capital’s substantial investment in Andar’s parent company reflects confidence in the athleisure sector’s growth potential. Today’s consumers increasingly seek sportswear that combines functionality with everyday wearability, driving robust segment growth. The capital influx will intensify industry competition, increasing pressure on small and medium-sized brands. Given Bain’s track record of post-acquisition restructuring, Andar is likely to accelerate supply chain optimization and global expansion efforts. Brand updates Decathlon named apparel supplier for the 2026 Winter Paralympics Building on its partnership with the 2024 Paris Olympic and Paralympic Games, Decathlon has renewed its collaboration with the International Paralympic Committee as official apparel supplier for the 2026 Milan-Cortina Winter Paralympics. The partnership includes 350 outfits and 8,000 apparel pieces drawn from Decathlon’s existing product lines and developed by its in-house design and engineering teams. The collection combines performance, functionality and versatility to meet athletes’ needs across multiple scenarios. Decathlon will provide support across event operations, athlete partnerships and resource allocation for participating delegations. The collaboration reinforces the brand’s commitment to Paralympic sports and its mission to advance athletic development through specialized equipment. Descente teams up with Marco Odermatt for 2025 Fall/Winter pro ski collection On December 31, Descente partnered with Swiss alpine skiing world champion Marco Odermatt to launch its 2025 Fall/Winter professional ski collection. The line blends technical performance for demanding snow conditions with design elements that appeal to a new generation of skiers. The collection includes hardshell ski jackets, insulated ski pants, mid-layer jackets, reversible vests and hoodies. Featuring lightweight construction, streamlined design and a modular layering system, the pieces perform across varying conditions and activity levels. The collaboration balances the functional requirements of professional skiing with contemporary style, offering consumers high-performance gear with refined design. Anta unveils equipment for 10 Chinese winter sports teams On December 29, Anta unveiled equipment support for 10 Chinese national winter sports teams ahead of the 2026 season, covering short track speed skating, speed skating, curling, bobsleigh, luge, skeleton, figure skating, snowboarding and freestyle skiing. The short track speed skating suit, developed with an academician workstation, features Anta’s next-generation cut-resistant material that meets the international Class 4 standard while maintaining lightweight comfort and breathability. The national team gear integrates Anta’s proprietary drag-reduction and thermal regulation systems. Columbia launches ‘Titanium Ski’ collection Columbia has launched its “Titanium Ski” collection designed for demanding snow terrain. The range integrates the brand's core technologies including Omni-Tech Waterproofing and Omni-Heat Gold Thermal Reflective Technology for enhanced weather protection, insulation and mobility. The premium line includes waterproof outer layers, protective mid-layers and functional base layers with lightweight construction and consistent performance. The collection features a versatile color palette with strategic color-blocking and patchwork accents. Arc’teryx releases 2026 Lunar New Year ‘Rush’ collection Arc’teryx has launched its 2026 Year of the Horse Lunar New Year limited ‘Rush’ collection. The Rush Ski Jacket is the lightest hardshell in the brand’s ski series, engineered for ski mountaineering. The jacket features reduced fabric weight, optimized 3D tailoring, and a shortened hem for improved climbing agility and moisture management. It uses Gore-Tex Pro e-PE membrane for breathability and weather resistance, and includes a built-in Recco reflector for avalanche rescue. On Running drops Year of the Horse capsule On Running has launched its Year of the Horse limited collection themed “Find Your Own Rhythm in the New Year.” The lineup features three signature models: Cloudmonster Void, Cloudsurfer Max and Cloud 6. The Cloud 6 draws design inspiration from a galloping horse’s flowing mane, featuring a taupe colorway with golden side accents and integrated Speedboard technology for versatile daily wear. The brand also released matching apparel and accessories including lightweight running caps, merino wool beanies, waist pouches and socks, all featuring Year of the Horse motifs that blend functional design with Lunar New Year aesthetics. Li-Ning opens Ning Coffee outlet in Beijing Li-Ning’s coffee concept Ning Coffee opened its first independent store at the Wangfujing Wanli WellTown outlet mall in Beijing. During the soft launch, the store generated nearly 20,000 RMB ($2,872) in daily sales, the brand’s highest single-store performance for its coffee venture. Unlike previous locations within Li-Ning sportswear stores, this outlet features an independent storefront and full seating area. The interior design combines Li-Ning’s signature Oriental aesthetics with sports elements. The café incorporates Li-Ning’s sports IP through sport-themed drink names including Chitu Latte and Wade’s Way Sparkling Drink. It also offers a health-focused coffee line with drinks featuring kombucha and protein powder additions. World Brewers Cup Champion Du Jianing provides professional expertise for the brand’s coffee program. Keen teams up with 8ON8 for 2026 Spring/Summer footwear line Keen has partnered with designer label 8ON8 to launch a 2026 Spring/Summer collaborative footwear line. Based on Keen’s iconic Jasper silhouette, the collection features pegasus patch motifs and functional pull-tab details. The shoe uppers combine suede and leather paneling with weaving techniques that balance outdoor utility and refined design. Leather-embroidered pegasus patterns appear on the uppers, while fringe detailing on the heel references a horse’s mane, blending mythological imagery with outdoor functionality. The collection launches January 16 via both brands' official channels. Norrøna returns to Beijing Norwegian premium outdoor brand Norrøna is preparing to open a Beijing store at the upscale SKP mall, marking the brand’s return to the Chinese capital. Norrøna previously operated in China from 2016 to 2019 before exiting the market. The brand re-entered China in October 2025 with a pop-up store at Kerry Parkside in Shanghai’s Pudong district. Founded in 1929, Norrøna has nearly a century of outdoor heritage. Its product lineup spans skiing, mountaineering, trail running, hiking, mountain biking, hunting and surfing, with its Lofoten ski collection and Trollveggen mountaineering series recognized among outdoor enthusiasts worldwide. The Beijing store will be operated by Topsports, a leading Chinese sports retail operator. Leveraging Topsports’ channel network and localized brand management expertise, Norrøna aims to establish a presence in China’s premium outdoor market.

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Ski season, CNY logic: How athleisure brands are stacking winter wins