The powder/big mountain/backcountry market is showing the greatest amount of growth in the industry right now. While everything else is hovering around the same numbers, that market is growing like crazy. It's still a niche, but a quickly growing niche.
Thing is, who do you think of when you think of big mountain/backcountry. The brands get pretty gnarly, less known, less fashionable. Black Diamond, Dynafit, Cloudvale... Not exactly brands that a 20 year old thinks to go and buy. Armada is capitalizing of this. Beginning to make very tech lines for the under 30 crowd.
Also, it seems their outerwear is a little bit of a throwback. Toned down colors and designs. I'm not all that sad to see the neons going out.