Chinese sportswear giant Anta Sports posted strong annual revenue of 49.33 billion ($7.76 billion) yuan in 2021, up 38.9 percent year-on-year, with net profit reaching 7.72 billion yuan up 49.6 percent on the year.
The main Anta brand and Fila were dual drivers of growth and e-commerce contributed 29 percent of overall revenue, compared with 26 percent in 2020. The company also operates Descente’s business in China and acquired Arc’teryx in 2019.
Anta said in a statement that China’s national policies are broadly supportive of sportswear industry growth, pointing to the country’s sports-development plan as well as Beijing’s recent hosting of the Winter Olympic Games.
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.