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
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.
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.
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.