Anta Sports, China's largest sports brand, has achieved a record turnover of $2.07 billion in the first half of 2019, 40 per cent more than a year ago at ¥14.8 trillion. The profit margin was increased by 58 per cent. Anta recently acquired the Finnish sports group Amer Sports. This course-setting has played a major role in the upswing of the company.
CEO Ding Shizhong stated that Anta Sports would now focus on its role as partner of the Chinese Olympic Committee and official national sponsor of the 2022 Winter Olympics. Up to 300 million Chinese will then be able to practise winter sports, according to a press release by Anta Sports.
The huge sports market makes Anta more and more a competitor for the two top names Adidas and Nike. Both the Germans and the Americans also reported increases recently. But neither Adidas (42 per cent) nor Nike (10 per cent) are convincing at the level at which the Anta share has been moving since the beginning of 2019 (+ 70 per cent).
Anta Sports, China's largest sports brand, has achieved a record turnover of $2.07 billion in the first half of 2019, 40 per cent more than a year ago at ¥14.8 trillion. The profit margin was increased by 58 per cent. Anta recently acquired the Finnish sports group Amer Sports. This course-setting has played a major role in the upswing of the company.#
The acquisition of Amer was an important step for Anta Sports in order to grow even stronger globally. Since then, Salomon, Wilson, Atomic and Arc'teryx, among others, have also belonged to the company, which also took over Fila's China business in 2009. (PC)
Fibre2Fashion News Desk – India
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