Anta Group revenue grew by 55.5 percent to 22.81 billion yuan ($3.52 billion) for the first half of the year, a record high. The result also represents a 54 percent revenue growth over the same period in 2019, prior to the pandemic.
Unlike domestic sportswear competitor Li Ning, which has focused its efforts on promoting a single brand, Anta has undertaken a multibrand strategy, adding to its core Anta and Anta Kids brands with acquisitions such as Fila, Kolon Sports and Descente.
The revenue and share price of both Anta Group and Li Ning have been boosted by a boom in fitness-related categories in China, as well as a backlash against international brands (including Nike and Adidas) for their stance on sourcing cotton from the Xinjiang region.
Anta Group’s e-commerce business contributed 27 percent of its overall revenue in the first half, an increase of 61 percent year-on-year.
The total number of Anta brand stores (including Anta Kids standalone stores) currently stands at 9,788 and the total number of Fila stores (including Fila Kids and Fila Fusion standalone stores) in mainland China, Hong Kong, Macau and Singapore reached 1,979.
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.