Xiamen-based Anta Sports Products announced a 16.2% increase in revenue

Source：CHINA SPORTING GOODS FEDERATIONRelease time：2024-03-27Clicks：

A man walks past a store of Chinese sportswear firm Anta Sports at a shopping mall in Beijing. [Photo/Agencies]

Anta Sports Products Limited, a Xiamen, Fujian province-based sportswear company, posted a 16.2 percent year-on-year increase in revenue in fiscal year 2023 to reach a total of 62.4 billion yuan ($8.64 billion), with Anta segment rising 9.3 percent to 30.3 billion yuan and Fila growing 16.6 percent to 25.1 billion yuan.

The group also said all other brands including high-end outdoor brands Descente and Kolon Sport have seen revenue increase by 57.7 percent to 6.9 billion yuan. In 2023, its investment in research and development exceeded 1.6 billion yuan.

The group operates more than 12,000 across the world. A total of 32.8 percent of its group's revenue comes from its e-commerce. The strategy of multiple brands has now focused on performance sportswear, high-end sports fashion, and outdoor sportswear categories, said the company.

As the largest shareholder for Amer Sports Inc, which went listed on the New York Stock Exchange in February 2024, Anta Sports said that Amer Sports Inc. will make important and positive contributions to the group's global expansion.

Amer Sports, during the financial year, has seen its revenue from the joint venture AS Holding grow by 30.1 percent to 31.25 billion yuan, and EBITDA (earnings before interest, taxes, and amortization) increased by 45.4 percent to 3.75 billion yuan.

During the financial year, the group completed the acquisition of Maia Active, a sportswear brand designed for Asian women. The move is believed to further bolster the group's brand portfolio by serving as a valuable addition to its female business segment.