The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Chinese sportswear giant announced plans for the first Fila-branded hotel, dubbed Fila House, in Shanghai in conjunction with Hyatt Group.
The hotel is expected to open in 2024 as a part of Anta’s new Shanghai headquarters. The group acquired the Italian brand’s China business in 2009. Fila contributed almost 20 billion yuan ($3.17 billion) revenue to the Anta Sports group in its latest quarter with a year-on-year growth rate of over 25 percent.
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The World’s Third Largest Sportswear Company May Surprise You
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In sportswear, only Nike and Adidas have a higher market cap than Chinese giant Anta. Having surpassed other international rivals in China, the ambitious group now aims to go global.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.