Another year of strong growth for Anta Sports
26/02/2019
Its profit on this revenue was 4.1 billion yuan ($610 million), up 32.9% year-on-year.
Apparel sales made up 61% of the group’s overall revenue. This segment brought in sales of 14.7 million yuan ($2.2 billion), an increase of 61% compared to 2017.
Revenue from footwear was up 35.8% to 8.6 million yuan ($1.3 billion). The rest of Anta’s revenue came from accessories.
The group’s strong performance was driven by a large increase in retail sales of Anta branded products and other branded product. It said they grew 85-90% year-on-year.
Reacting to the results, Ding Shizhong, chairman and CEO of ANTA Sports, said: “The year 2018 was an important milestone for both China and ANTA Sports. We will never forget our mandate to be a consumer-centric company which builds on its multi-brand strategy and innovation. We remained steadfast to our mission, committed to innovation, and upgraded our brand with a global mindset, ensuring that we can truly become the ‘Great Brand’.”
He also made reference to Anta’s involvement in a consortium that has bid to acquire Finnish group Amer Sports. He described this as “an important milestone in Anta’s internationalisation process”.
Share this story:
