Nike and Adidas have been fighting an uphill battle in China as consumers boycott the companies due to forced labor disputes in the cotton industry.
Meanwhile, Anta, “the Nike of China,” is taking advantage of the shift within the largest fashion market in the world.
The sportswear company, founded in 1991, grew substantially in China due to its affordability. After going public in 2007, Anta caught eyes with its footwear marketing campaigns during the 2008 Beijing Olympics.
Since then, Anta has transformed itself into one of the leading sportswear brands in the world, although many Americans remain unaware of its reach. But that isn’t likely to last for long.
Anta is the official supplier and sponsor of NBA players Klay Thompson, Gordon Hayward, and Rajon Rondo. Thompson signed a 10-year, $80 million deal with Anta in 2017. Filipino boxer and politician Manny Pacquiao also has a deal with the company.
In FY2020, Anta revenue reached $8.5 billion, up 4.7% from the year prior. Anta’s brand Fila saw retail sales increase 25% year-over-year in Q4 2020 and sold 10 million pairs of sneakers during the company’s fiscal year.
The IOC will be sporting Anta apparel during the Tokyo Olympics as the committee’s official uniform supplier. The company is an official sponsor of the 2022 Beijing Olympics as well.