Anta to continue multi-brand expansion efforts
05/03/2018
Footwear sales were 17.5% higher year on year at 7 billion yuan ($1.1 billion), while sales of apparel increased 32.4% to 9.1 billion yuan ($1.4 billion).
Anta’s profit for this period was 3.09 billion yuan ($490 million), an improvement of 29.4% compared to 2016.
The company’s strong performance was driven by a significant increase in retail sales of Anta branded products and other branded products. Fourth quarter retail sales increased 20-25%, while the company said full-year retail sales were 85-90% higher.
Anta chairman and CEO, Ding Shizhong (pictured), described 2017 as “a year of strategic transformation” for Anta as it moved towards a multi-brand business model. He explained that the company’s ambition is to become a “competitive global multi-brand company”.
He announced the launch of a “globalisation strategy” in 2018, which will involve high levels of product innovation and investment in research and development. He added that Anta will continue to seek to acquire “high-end international sportswear brands with strong growth potential”.
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