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Tuesday, May 21, 2024

Anta Gaining Ground on Rivals Nike, Adidas, Puma

  • Anta, the “Nike of China,” is gaining momentum in its home country.
  • Meanwhile, brands like Adidas and Puma have taken a hit in China.
Anta
Anta/Design: Alex Brooks

Anta, the “Nike of China,” is gaining momentum in its home country, while brands like Adidas, Nike, and Puma have taken a hit in the world’s largest fashion market.

China’s top domestic sportswear brand has grown substantially due to its affordability.

After going public in 2007, Anta caught eyes with its marketing campaigns during the 2008 Beijing Olympics and has benefited from a partial boycott of Western brands in China after some raised questions about forced labor in the country’s Xinjiang region.

As a result, Anta has transformed into one of the leading sportswear brands in the world with a market cap of $39 billion, although many Americans remain unaware of its reach.

  • Hall of Famer and NBA champion Kevin Garnett signed a sponsorship deal with Anta in 2010 after leaving Adidas.
  • The company sponsors NBA players Alex Caruso, Klay Thompson, Gordon Hayward, and Terance Mann.
  • The IOC will be sporting Anta apparel during the 2022 Beijing Olympics as the committee’s official uniform supplier.

Changing Landscape in China

Anta generated record revenue of $3.5 billion for the six months ending June 30, 2021, up 56% year-over-year.

Puma and Adidas reported a 15% sales decline in China in Q3 2021, while Nike saw sales fall 20% in the country in fiscal Q2.

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