The Italian-born Fila sportswear brand has taken on a new lease of life in China, with operating revenues reaching a record 21.82 billion yuan (approximately 3.37 billion dollars). ) in 2021, according to the company's financial statements.The rapidly developing Chinese sportswear market and strong industrial chain have allowed Fila to go from being a loss-making brand to one with a turnover of more than 20 billion yuan.
In 2009, leading Chinese sportswear company Anta Sports acquired the Fila Group franchise brands in mainland China, Hong Kong and Macau. Following this transaction, Fila has found its position in China as a high-end sportswear brand, conquering the nation's consumers with its unique combination of an elegant and sporty image, also referred to as 'athleisure'. "We realized that Chinese consumer demand for fashion and individuality is growing," said Li Ling, Vice President of Anta Group.
By embracing the latest trend of the younger Chinese generations and collaborating with internationally renowned designers, Fila has made itself known in the Chinese market, where consumers hardly link the brand to the one that was in deficit a dozen years ago. According to Yao Weixiong, president of Fila Greater China, their designers regularly go to the Fila Museum in Biella, Italy, where the brand was born, where more than 100 are kept. 000 sketches and samples of the models of the brand. "Designers draw inspiration from Fila's over 100-year history and then create collections based on styles that appeal to Chinese consumers," explained Yao.
According to Euromonitor, a global market research firm, the retail size of the Chinese sportswear market has increased from 79 billion yuan in 2007 to 371.8 billion yuan in 2021 and is expected to reach 600 billion yuan. in 2026. The booming Chinese consumer market offers Fila more opportunities, while a mature industrial chain also guarantees production. Anta's headquarters are located in Jinjiang, in the eastern Chinese province of Fujian, a town also known as' the largest sneaker production base in the world ', where more than 40% of the country's sneakers and 20% of the world were produced.
Fila production line was also established in Jinjiang, in order to ensure production efficiency. "The company will continue to grow thanks to Fujian's strong sportswear supply chain and to collaborate with more research and development people to better meet the growing demand of Chinese consumers, whose quality of life is further improved, "concluded Li Ling.
Fila production line was also established in Jinjiang, in order to ensure production efficiency. "The company will continue to grow thanks to Fujian's strong sportswear supply chain and to collaborate with more research and development people to better meet the growing demand of Chinese consumers, whose quality of life is further improved, "concluded Li Ling.
Fila production line was also established in Jinjiang, in order to ensure production efficiency. "The company will continue to grow thanks to Fujian's strong sportswear supply chain and to collaborate with more research and development people to better meet the growing demand of Chinese consumers, whose quality of life is further improved, "concluded Li Ling. (XINHUA) (ICE SHANGHAI)
Source: ItalianTradeAgency
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