Recently, the parent company of Archaeopteryx, Salomon, and Wilson, Amalfin Sports, announced its Q3 2024 financial report. During the reporting period, Yamafen Sports achieved a revenue of 1.354 billion US dollars, a year-on-year increase of 17%; Net profit increased by 257% year-on-year to 56 million US dollars, achieving a turnaround from losses to profits, with a net loss of 38 million US dollars in the same period last year.
In the third quarter, all brands and regions of the Amalfi Sports Group performed very strongly. Driven by the Archaeopteryx brand, our unique high-end functional clothing brand portfolio continues to explore new areas in the global sports and outdoor markets, winning market share. We are fully committed to seizing the growth opportunities of Archaeopteryx and Salomon footwear products. At the same time, the company's leading ball and racket equipment business has also entered a period of accelerated growth this quarter, "said Zheng Jie, Global CEO of Amalfi Sports.
Divided by regional revenue, Yamafen's revenue in Greater China was 313 million US dollars, a year-on-year increase of 56%; Revenue in the Asia Pacific region was $125 million, a year-on-year increase of 47%; Revenue in the Americas region was $488 million, a year-on-year increase of 7%; Revenue in the Europe, Middle East, and Africa (EMEA) region was $429 million, a year-on-year increase of 4%.
As a high-end functional clothing brand under the umbrella of Amalfin Sports, Archaeopteryx continued to play its market leading role in the third quarter, achieving significant double-digit growth in all regions and sales channels worldwide. In the third quarter, the revenue of the outdoor functional clothing sector led by the Archaeopteryx brand increased by 34% year-on-year, reaching 520 million US dollars; The revenue from mountain outdoor clothing and equipment increased by 8% year-on-year, reaching 534 million US dollars; The revenue of ball and racket equipment business achieved double-digit accelerated growth, reaching 300 million US dollars, a year-on-year increase of 11%.
Since launching its first self-designed shoe series, Archaeopteryx's footwear products have continued to show strong growth momentum, especially the Kragg series hiking shoes and the newly launched Kopec hiking shoes, which have performed outstandingly. Women's outdoor clothing (jackets and shoes) performed well with strong double-digit growth, accounting for nearly a quarter of sales in the third quarter.
During the reporting period, Archaeopteryx added 9 brand stores globally, located in China, the United States, Canada, Australia, and Germany, with a total of 134 private brand stores. Archaeopteryx has opened a brand new flagship store, Alpha Store, at 580 Broadway in New York, perfectly showcasing the ReBIRD concept, including a shopping area in REGEAR, a ReBIRD repair and maintenance center, and a caf é. Yamafen Sports plans to add a net of 30 Archaeopteryx stores in 2024, making it the year with the highest store growth in the brand's history.
In addition to Archaeopteryx, Salomon footwear also demonstrated strong growth momentum in the Greater China and Asia Pacific regions in the third quarter. In the first three quarters of 2024, Salomon's outdoor products revenue was 1.241 billion US dollars, a year-on-year increase of 8%, accounting for 35% of the revenue. Yamafen Sports revealed that currently, Salomon's footwear and apparel business accounts for about two-thirds of outdoor products revenue. In the long run, it is expected that Salomon's footwear and apparel business will achieve double-digit growth every year; Worldwide, Salomon plans to open 404 stores, including both direct and franchise stores, by the end of the year, doubling the number compared to the same period last year. In the third quarter, Salomon added a net of 29 stores in Greater China, bringing the total number of stores to 165; It is expected that by the end of 2024, Salomon will have approximately 200 stores in China. In the future, the number of stores in first and second tier cities in China is expected to reach hundreds.
On October 30, 2024, Salomon's Xintiandi flagship store in Shanghai officially opened, which is Salomon's largest full-service store in Asia, and also another benchmark store in the world's key cities and top business circles after Salomon's Champs Elysees flagship store in Paris. In China, Salomon's "standard store" model has achieved great success, with a floor area efficiency of about four times the industry average. Salomon has also started promoting the "standard store" model outside of China and has opened new stores in the Asia Pacific region, Europe, the Middle East, and Africa, including Le Marais stores in Tokyo, Singapore, and Paris. In Europe, the Middle East and Africa, as well as the North American market, Salomon has further optimized its marketing structure by clearly dividing the Winter Sports Equipment sales team from the Salomon footwear sales team. Due to the unique market characteristics and demands of these two teams targeting different end markets, this strategic adjustment will be able to more effectively tap into the potential of these two product categories.
Andrew Page, Chief Financial Officer of Amalfin Sports, stated that this quarter Amalfin Sports achieved high double-digit organic growth once again, while gross profit margin and operating profit margin achieved healthy growth, mainly due to the company's strong brand portfolio and excellent execution of the global team. The growth of the Archaeopteryx brand is particularly strong, and the growth trend of the ball and racket equipment business, as well as winter sports equipment, gives the company confidence to increase its annual sales and profit expectations.
Looking ahead, we are confident in our initial expectations for 2025 and expect to achieve performance consistent with our long-term financial goals: maintaining low to mid double-digit growth in annual revenue; and an adjusted operating profit margin growth of 30 to 70 basis points driven by an increase in gross profit margin. "said Andrew Page.