Anta Sports, the “Nike of China,” posted growth across all its business operations in 2021 in the company’s latest earnings report.
The Chinese sportswear company generated $7.7 billion in revenue in FY2021, a 39% increase compared to the financial year prior, thanks to strong results in its Anta and FILA segments.
- In FY2021, the company’s Anta segment posted $3.7 billion in revenue, up 52% year-over-year.
- Its FILA segment generated $3.4 billion in revenue in 2021, a 25% uptick compared to FY2020.
- All other Anta Sports brands posted revenue of $548 million in FY2021, up 51% year-over-year.
- Shares of the company were up more than 5% on Tuesday following the report.
Anta is gaining momentum in its home country, while brands like Adidas and Nike have taken a hit in the world’s largest fashion market. Anta has benefited from a partial boycott of Western brands in China after some raised questions about forced labor in the country’s Xinjiang region.
Nike saw its revenue in the Greater China region reach $2.2 billion in fiscal Q3, a 5% decline compared to the same period the year prior. In Q4 2021, Adidas reported a 24% drop in revenue in mainland China, Hong Kong, and Taiwan.
New Line of Business
Anta is leveraging its popularity in China to launch a FILA-branded hotel in Shanghai. Designed in collaboration with Hyatt Hotels, it is expected to open in 2024 and will be part of Anta’s new Shanghai headquarters, which includes office buildings, shops, and dining outlets.
