Wednesday November 29, 2023

Fila Rebounds with Boost from Acushnet

  • Fila's second quarter revenues rebounded after a drop in the same period last year.
  • Earnings from Acushnet provided a major lift.
Fila tennis and athletic appearal.
Geoff Burke-USA TODAY Sports/Design: Alex Brooks
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Fila recorded a 63% year-over-year increase in revenue, reaching $870.7 million in the second quarter as its mix of athletic wear and golf products bounced back from pandemic lows.

Both the company’s revenue and gross profit of $446.2 million eclipsed 2019’s totals, as well. 

Key to Fila’s comeback is its majority stake in Acushnet, owner of golf product brands including Titleist, Footjoy, and Scotty Cameron. The company’s non-core holdings, namely its 52% stake in Acushnet, accounted for $598.4 million — 68.7% of its Q2 revenue.

  • Fila’s U.S. division saw its revenue rise 101.1% to $97 million — still 19.8% below its Q2 2019 showing of $120.9 million.
  • In April, consulting firm Brand Finance rated Fila the fastest-growing apparel brand, with a 68% year-over-year increase in brand value to $2.7 billion. 
  • Acushnet’s net sales more than doubled year-over-year to $624.9 million in the second quarter. That figure was up 35.2% from the same period in 2019.

Fila first bought into Acushnet in 2011, when the latter was acquired by a group of investors for $1.1 billion. It became majority owner in 2016 when it bought a 20% stake through its holding company, Magnus Limited.

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