Anta invests in new Shangqiu shoe firm
Shangqiu Anta Footwear, a Shangqiu, Henan-based enterprise which is 85% controlled by Anta Sports, recently invested in newly established footwear and apparel firm Shangqiu Ancheng Shoes, Chinese media have reported.
The former’s initial investment amounted to 18% ownership of the recently formed company, whose registered capital (authorised capital) is ¥5 million or $185,000, sources familiar with the matter said.
By contrast, Shangqiu Anta Footwear’s registered capital is ¥100 million ($15.7 million). Sports shoe production and sales, plus the design and development of other types of footwear and apparel, all fall under its remit.
Meanwhile, shoe manufacturing, wholesale and retail distribution and the making and selling of footwear components will be Shangqiu Ancheng Shoes’ focus as it begins to forge its own path. The business will also reportedly produce and sell clothing.
