Natural mineral water brand Alps sign three-year partnership with BWF
21 Aug 2019 20:30
Running has recently become a trend in China. From ordinary people to celebrities, everyone is uploading their running record on social media platforms. Thanks to this trend, sportswear industry is making a strong comeback.
According to 5 sportswear companies in China which have published their H1 earnings, they have all experienced an increase in revenues and net profits. Li-Ning which suffered a huge deficit of 586 million RMB in the first half of last year, has managed to cut this loss to 29.4 million RMB while ANTA could become China’s first sportswear brand whose yearly revenues could exceed 10 billion RMB since its H1 revenues have already reached 5.11 billion RMB. “A U shaped bounce back has occurred in the industry,” Zhang Qing, CEO of Key-solution Sports Consulting Company said.
Compared with other domestic sportswear companies, Li-Ning used to hold a safe lead with its revenues peaking at 9.4 billion RMB in 2010. But it has been left far behind by ANTA due to a dreadful enterprise transformation.
After two years of store closures, streamlining operations and inventory clearance, China's sportswear sector is on the mend with ANTA being the best placed among its rivals to recover, analysts said.
Source: sina
Proofread by Raymond Fitzpatrick
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
Guo Yan: from world champion to business 'maker'
30 Jun 2015
Wanda Sports to acquire Lagardère Sports' Endurance Division
23 Jan 2016
Chinese group to sponsor Sheffield United
01 Jul 2016
ANTA partner with Delivery Agent
20 Feb 2016
Lander Sports Q1 profit up 488%
04 May 2016
More from Yutang Sports
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023
Ingmar De Vos elected as the next ASOIF President
10 Apr 2024
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Squash will be significantly boosted by LA28 inclusion
17 Apr 2024
Yutang Sports
loading...