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Anta looking forward to ‘high-quality growth’

YarnsandFibers News Bureau 2020-03-30 10:29:18 – China

Chinese sports group Anta has reported revenues of almost $4.8 billion for 2019. It said this figure represented an increase of more than 40% compared to the previous year.

The Anta brand brought in just under $2.5 billion, growth of 21.8%.

Group results also emphasised the recent success and popularity of its Fila brand. Fila’s revenues for 2019 were just over $2 billion, 43.5% of the group’s total. This represents growth of 73.9% for Fila year on year.

Chief executive, Ding Shizhong, said Anta Sports was concerned about the effect the coronavirus outbreak might have on the group’s 2020 results, but he said the “changes in industry and consumer environments” also presented “an excellent window for the group to improve efficiency and carry forward effective reforms”.

He said Anta would pursue “high-quality growth” and “actively seek opportunities”. He commented that in the face of “black swan incidents”, meaning unexpected events with potentially severe consequences, companies should not only make “prompt and decisive executions”, but should also assess whether their regular operations are “reliable and solid”.

Mr Ding added: “We are fully confident about the recovery of the sports market after the epidemic and the group’s long-term growth.”

Source: Sports Textiles

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