Anta Sports sets sales record
Chinese sportswear company Anta Sports has announced a record-breaking 44.1 per cent increase in revenue to RMB10.55 billion ($US1.53 billion).
The figures, released in the firm’s unaudited results for the six months to June 30, also showed a 34 per cent increase in profits attributable to shareholders to RMB1.94 billion ($281.3 million).
The company’s gross profit margin increased by 3.7 percentage points to 54.3 per cent.
According to the report, Anta’s “single-focus, multi-brand and omni-channel” operation model enabled the firm to position its brands across the mass-market to the high-end market spectrum, with products catering to professional sports and popular sports, “athleisure” for outdoors, as well as kidswear.
Ding Shizhong, chairman and CEO of Anta Sports, said: “Since the beginning of this year, it was clear to us that China has set itself the goal of becoming a sports powerhouse and the sportswear industry is entering a golden era of rapid growth with unprecedented infrastructure development. Whether or not the brands can seize these opportunities will be the key to the success of each company.”