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Chinese firm Anta Sports' sales & profit jump in first half

28 Aug '21

2 min read

Pic: Anta Sports

First half (H1) sales at Anta Sports Products Limited, a China-based leading global sportswear company, spiked 55.5 per cent to RMB22.8 billion (renminbi) compared to the sales of RMB14.6 billion in the same period of last fiscal. Profit for the six-month period ended on June 30, 2021, more than doubled to RMB4.1 billion (H1 FY20: RMB1.8 billion).

“Anta Sports can look back on three extraordinary decades with pride. Through our 'Single-focus, Multi-brand, Omni-channel' strategy, we are committed to upholding our clear strategic thinking to prepare for the challenges and opportunities ahead,” Ding Shizhong, chairman and CEO of Anta Sports, said in a press release. “Our capability on new brands incubation and multi-brand management enables us to penetrate into various market segments in China effectively.”

By brand, sales from Anta brand grew 56.1 per cent to RMB10.6 billion (RMB6.7 billion), while Fila brand registered sales jump of 51.4 per cent to RMB10.8 billion (RMB7.1 billion). Performance of both the brands improved in China retail market with more customer demand and less retail discount coupled with reduced impact of the Pandemic, according to the company.

Additionally, the sportswear firm said that with strong growth of Descente and Kolon Sport businesses, the total revenue of all other brands grew over 90.1 per cent to RMB1.41 billion.

The e-commerce sales in H1 rose 70.4 per cent to RMB3.6 billion (RMB2.1 billion), while DTC sales totalled to RMB3.7 billion. Traditional wholesale and others business recorded 29.9 per cent decline to RMB3.2 billion (RMB4.6 billion).

Gross profit in the period increased to RMB14.4 billion, while profit from operations increased to RMB5.9 billion.

“With our capabilities in multi-brand management, we will continue to be 'Consumer-centric' and commit to achieving 'High-quality Growth'. Looking ahead, we are committed to meet consumers demands and experience by accurate benchmarking and to continuously optimise operational efficiency, in order to 'Lead to Win' in the future,” Shizhong added.

Fibre2Fashion News Desk (JL)

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