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Tag: Fila

  • Misto Holdings Boosts Q4 Sales Amid US Business Restructuring: Fila & Acushnet Show Strong Performances

    Misto Holdings Boosts Q4 Sales Amid US Business Restructuring: Fila & Acushnet Show Strong Performances

    In the fourth quarter, Misto Holdings, the parent company of Fila, Titleist and FootJoy, announced an increase in sales growth following a restructuring of its U.S. operations. The firm, based in South Korea, saw a 6.3% year-on-year boost in revenue during this period, reaching KRW915.2 billion (US$612 million). This follows a 3.7% uplift in sales reported in the third quarter.

    Company executives attribute this growth to a combination of factors, despite the prevailing macroeconomic uncertainty. These include a focus on profitability-driven operations, the positive outcomes of restructuring, and robust performance from Acushnet.

    Segment Performance

    Revenue from the Misto segment, which includes Fila and other lifestyle brands, fell by 9.6%. This decrease was primarily due to restructuring and inventory clearance in the U.S. market. However, operating profit improved significantly, reaching KRW74.7 billion, marking a notable recovery from the previous year.

    The Greater China market has emerged as a new area of growth for the company, driven by the expansion of prominent K-fashion brands. In South Korea, demand for Fila’s footwear franchise models remained stable.

    The Acushnet segment reported a sales growth of 10.9%, bolstered by strong sales of golf equipment, such as Titleist T-Series irons and SM10 wedges. Additionally, higher average selling prices for FootJoy golf shoes contributed to this growth.

    Yearly Overview

    For the entirety of FY25, the company’s consolidated revenue grew by 4.7% to reach KRW4.47 trillion. Operating profit surged by 31.6% to KRW 474.8 billion.

    Ho Yeon (Aaron) Lee, CFO of Misto Holdings, reflected on the past year, saying it was a significant period that saw the company reinforce its identity as a global brand portfolio company following a corporate name change.

    He noted that the expansion of the Greater China business, improved profitability in the Misto segment, and solid growth in Acushnet have all contributed to the stability of the company’s earnings.

    Questions & Answers

    What factors led to the growth of Misto Holdings in the fourth quarter?
    The growth was attributed to profitability-focused operations, the restructuring of the U.S. operations, and strong performance from Acushnet.

    How has the Misto segment performed amidst the company’s restructuring?
    Despite a decrease in revenue by 9.6% due to restructuring and inventory clearance, the Misto segment saw an improvement in operating profit, marking a significant turnaround.

    What contributed to the sales growth of the Acushnet segment?
    Increased sales of golf equipment, particularly Titleist T-Series irons and SM10 wedges, along with higher average selling prices for FootJoy golf shoes, supported the 10.9% growth in the Acushnet segment.

  • Misto Holdings Bounces Back in Q3: North American Revamp Fuels Revenue Rise in Sportswear and Golf Ventures

    Misto Holdings Bounces Back in Q3: North American Revamp Fuels Revenue Rise in Sportswear and Golf Ventures

    Misto Holdings, previously known as Fila, has reported a robust performance for the third quarter, attributing the positive results to the successful implementation of its restructuring efforts in North America. This strategic move improved profitability across its sportswear and golf sectors.

    Financial Performance

    Misto Holdings unveiled a consolidated revenue of US$741.2 million, along with an operating profit of $89.8 million, marking an increase of 3.7 per cent and 41 per cent respectively on a year-over-year basis.

    Subsidiary Acushnet, which houses brands like Titleist and FootJoy, posted a revenue of $617.4 million, exhibiting a 7.5 per cent surge compared to the same period last year. This growth trajectory is primarily attributed to the high demand for Titleist’s Pro V1 and Pro V1x golf balls, as well as the increasing popularity of the Pro V1 Left Dash model.

    The Misto segment, on the other hand, contributed $123.1 million to the overall quarterly revenue.

    Brand Repositioning & Restructuring

    In a bid to reposition its brand, Misto Holdings launched the Echappe series in Korea and also inaugurated a new experience center in Biella, Italy.

    The company noted that the restructuring measures, which were implemented towards the end of last year in North America, have helped in significantly cutting down losses and augmenting consolidated profitability.

    In a statement, CFO Ho Yeon Lee acknowledged the challenges faced by the company but expressed satisfaction over the stable performance in the third quarter, which was facilitated by disciplined operations and solid brand fundamentals.

    Lee also highlighted the company’s ongoing pledge towards transparent and shareholder-friendly management, revealing, “The fourth consecutive special dividend demonstrates our long-term commitment to value creation.”

    Rebranding Initiative

    The company underwent a rebranding process earlier this year, transitioning from Fila Holdings to Misto Holdings. This change was reflective of its expanded global brand portfolio and the strategic aim of “Redefining Boundaries.”

    Questions & Answers

    What are the factors contributing to Misto Holdings’ strong third quarter performance?
    The company’s successful restructuring efforts in North America, disciplined operations and solid brand fundamentals were key contributors to its robust performance in the third quarter.

    What strategic steps has Misto Holdings taken for brand repositioning?
    For brand repositioning, Misto Holdings launched the Echappe series in Korea and opened a new experience center in Biella, Italy.

    Why did the company rebrand from Fila Holdings to Misto Holdings?
    The company rebranded to Misto Holdings to reflect its broader global brand portfolio and to align with its strategic direction of “Redefining Boundaries.”

  • Misto Holdings Reports Robust Q2 Performance: Fila And Acushnet Divisions Drive Revenue Growth

    Misto Holdings Reports Robust Q2 Performance: Fila And Acushnet Divisions Drive Revenue Growth

    Misto Holdings, the parent company of Fila, has announced robust performance for its second quarter, with its consolidated revenue showcasing a 4.5 percent leap from the previous year to reach 1.23 trillion won ($888.8 million).

    The growth in operating profit was particularly noteworthy, surging by 29.8 percent to 181.9 billion won ($131 million). This uptick was powered by strong results from both the Misto and Acushnet business divisions.

    Misto Segment’s Performance

    The Misto segment reported revenues of 216.3 billion won ($156.3 million), maintaining the promising trend initiated by Fila’s Echappe franchise. The segment introduced new product lines, Peito and Panthera, generating notable momentum.

    The establishment of the Fila 1911 Myeong-dong concept store, which opened its doors in Seoul in April, bolstered the brand’s prominence in Korea. Simultaneously, the company has been widening its presence in Greater China, with the first Marithe Francois Girbaud store launching in the Xintiandi district of Shanghai.

    Acushnet’s Contribution

    Misto’s golf equipment subsidiary, Acushnet, also made significant contributions, with a year-over-year revenue increase of 7.9 percent, amounting to 1.01 trillion won. This boost was spearheaded by the enduring demand for Pro V1 and Pro V1x golf balls, GT Series clubs, and Scotty Cameron putters. Acushnet achieved steady growth in the US, Europe, and key Asian markets.

    “Even with external policy uncertainties and adjustments in certain operating areas, our strong brand competitiveness, particularly with Acushnet, and the restructure of certain overseas operations, have positively influenced the overall performance of the company,” stated Ho Yeon (Aaron) Lee, CFO of Misto Holdings.

    Lee added, “The Misto segment is also committed to enhancing product competitiveness and streamlining distribution efficiency as part of its mid- to long-term strategy, while also continuing to support balanced growth throughout our brand portfolio.”

    Rebranding to Misto Holdings

    Earlier in the year, Fila Holdings underwent a rebranding exercise to become Misto Holdings. This change was made to better represent the company’s diverse brand portfolio and its global aspirations.

    Questions & Answers

    What were the key drivers of Misto Holdings’ profit growth in Q2?
    The robust performances of both the Misto and Acushnet segments contributed to the rise in profits. The Misto segment benefited from the successful launch of new product lines and the Acushnet segment reported significant growth due to sustained demand for its golf equipment.

    How is Misto Holdings expanding its footprint in Asia?
    Misto Holdings is increasing its presence in Asia through the opening of new stores, such as the Fila 1911 Myeong-dong concept store in Seoul and the first Marithe Francois Girbaud store in Shanghai.

    Why did Fila Holdings rebrand to Misto Holdings?
    Fila Holdings rebranded as Misto Holdings to more accurately reflect the diversified nature of its brand portfolio and to affirm its global ambitions.

  • Fila records a 35 per cent decrease in revenue

    Fila records a 35 per cent decrease in revenue

    Fila’s parent company Fila Holdings reported overall earnings of US$766.97 million for the third quarter, for which the company credits its global five-year “Winning Together” strategy established last year.

    The group said its operating profit was $71.6 million, boosted by strong sales at subsidiary Acushnet.

    Acushnet’s quarterly revenue increased by 3.3 percent year-on-year to $602.84 million due to strong demand for Titleist golf balls, as well as strong sales of its newly launched Titleist golf clubs and a higher average selling price (ASP).

    Meanwhile, Fila reported $163.44 million in quarterly revenue, a 35.1 percent reduction year-on-year.

    Fila Holdings is paying out a special dividend for the second year in a row, despite the Fila brand’s strategic transition obstacles. The company’s long-term commitment to increasing shareholder value is an important component of its Winning Together strategy.

    “In the face of a challenging business environment, we are striving to improve shareholder value alog with profitability in our main business,” said Fila Holdings CFO Ho Yeon (Aaron) Lee. n

    “We recorded solid consolidated quarterly earnings based on the growth of Acushnet, while we remain committed to our long-term goals with the Fila brand.”

    Fila is enhancing its position as a representative tennis brand, the company said, by participating as an official sponsor in UTS Seoul. This new concept tennis event will be staged in Asia for the first time at the end of this month.

  • Anta Sports shows positive result

    Anta Sports shows positive result

    Anta Sports Products is planning more than 1000 new stores this year after revealing another record profit. The Hong Kong-listed Chinese sports apparel and footwear manufacturer operates more than 11,600 stores in Greater China and beyond under its own Anta brand, and banners like Fila and Descente, for which it owns regional rights.

    In September last year it led a takeover bid for Amer Sports, which owns Salomon, Wilson, Arc’teryx, Suunto, Peak Performance and Precor, among other brands – a deal likely to be completed as early as next month.

    This year’s net profit was the fourth consecutive annual record and reflects growing popularity of sport and fitness in Mainland China and a strengthening of its online offer.

    The company’s profit jumped 32.9 per cent to RMB 4.103 billion ($613.13 million) last year on sales up 44.4 per cent to RMB 24.10 billion (US$3.597 billion).

    In a stock exchange filing, Anta said it was “cautiously optimistic” about the prospects of the business in China in the coming year, despite reduced business confidence across the region. It plans to open more than 1000 Anta-branded stores on the mainland this year along with up to 250 Fila, Fila Kids and Fila Fusion stores on the mainland and in Hong Kong, Macau and Singapore.

    Anta-branded products saw a mid-teens increase in retail sales in the latest quarter compared to the same period last year, however sales in stores bearing other banners rose between 85 and 90 per cent.

    Anta Sports, was founded in 1991 as a manufacturing supplier to the footwear industry. Since then it has grown to become China’s largest domestic sportswear brand, and industry analysts estimate it is the world’s third largest by market capitalisation after Nike and Adidas.

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  • Fila to open 100 exclusive retail stores in India over the next 5 years

    Fila to open 100 exclusive retail stores in India over the next 5 years

    Fila India, owned by Cravatex Brands Limited, the Indian arm of the $150 million Batra Group, is adopting an aggressive expansion strategy in India. 2018 saw the comeback of sports brands, both globally and in India, due to the shift in consumer preference towards sports inspired athleisure clothing. A key player in the Indian market, Italian sports and fashion brand Fila has planned to capitalize on this trend and strengthen its presence in the country with an aggressive expansion strategy. The brand is projecting sales to grow more than 50 percent by the end of this financial year.

    As part of the new Heritage Store format, Fila has been opening one store a month and expects to keep this momentum going in 2019. The next 3 months will see stores coming up in Mumbai, Bhubaneswar, Baroda and Chennai among other cities. The focus will be skewed largely towards Fila Heritage format stores, driving fashion lifestyle imagery in the premium sportswear segment with a global Heritage collection across footwear, apparel and accessories.

    Aside from main metros and mini metros, Fila has set its sights on the North Indian market with a focus across Delhi, Gurgaon, Noida, and the entire region of Punjab; followed by South India. While company owned stores will be the primary objective, the brand is identifying some key partners to pursue a franchise model.

    Maintaining uniformity across layout and design, the average store size is expected to be between 1000-1200 sq feet carpet area with larger flagship locations in metros.

    Speaking on the strategy, Rakesh Singh Kathayat, Chief Operating Officer, Cravatex Brands said, “The resurgence of sportswear in mainstream fashion is the most relevant conversation in the industry today, particularly among millennials and Gen Z. Fila’s retro aesthetic and nostalgia-tinged DNA has thus, gained relevance and this conversation has supplemented its evolution into a sports fashion label. While we’re steadily making this progression in perception, supplementing consumer demand with supply is the need of the hour. Our offline retail growth in India focuses on strengthening our pan-India presence to create easier access and increased engagement with our growing consumer base.”

    Fila India is a licensee held by Cravatex Brands Limited which is a part of the Batra Group, a Global Retail, Brand Licensing, Distribution and Sourcing company with a presence across the Indian Subcontinent, United Kingdom, Europe, North Africa and the Middle East.

  • FILA India collaborates with Streetwear Label Norblack Norwhite

    FILA India collaborates with Streetwear Label Norblack Norwhite

    The Italian sports-fashion brand Fila has announced its first ever Heritage collaboration with indie streetwear brand Norblack Norwhite which are now available in its stores. FILA India’s partnership with Norblack Norwhite pays homage to a heritage of textiles from Italy and to the age-old traditions of Indian textile makers, debuting with this India-only exclusive collaboration.

    Fila India’s Creative Director, Abdon Lepcha worked closely with NBNW for almost a year to design a limited edition collection that fuses iconic FILA silhouettes with their signature prints and patterns. The collaboration is a fusion of Indian streetwear with sports fashion. The collection was created applying the NBNW love for pattern and color, keeping it breathable within the sporty space. The styles focus on comfort, playing off some of Norblack Norwhite’s textile styles applied in a new way to work with Fila fabrics.

    Speaking on the collection, Mriga Kapadiya & Amrit Kumar said, “NBNW celebrates textiles and colors and patterns so creating within the FILA form and brand has taken us out of our comfort zone and pushed the boundaries on our design capacity. Fila is a brand we grew up on and we were super excited when Fila India approached us to collaborate on this capsule collection. We’ve never got to design athletic wear and it’s been super fun and also challenging to apply our style and aesthetic in this form! It’s important for our process to stay true to things we feel comfortable and empowered in while balancing the visual story of our favorite elements of India combined with our guiding feelings of classic streetwear.”

    Rohan Batra, the MD of Cravatex Brands, the Licensee for Fila in India, says, “This collaboration is one that is very special for us. It is the first time a global brand has collaborated on an entire collection with an Indian streetwear label. The limited India-only drop for the collaboration is part of our commitment to building and nurturing the streetwear fashion culture in India.”

    The collection comprises of baseball jerseys, tracksuits, fanny packs, tees and a special edition Disruptor. The price points for apparel, footwear and accessories start from Rs 1,999 and go up to Rs 8,999.

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  • Fila opens its flagship heritage store in Pune India

    Fila opens its flagship heritage store in Pune India

    After the success of Fila India’s flagship heritage store in Mumbai, Fila has just launched its new heritage store in Pune. Sneaking its way into the affluent neighborhood of Viman Nagar at the bustling Phoenix Market City mall Pune, the store is a 1,068 sq. ft. mecca for sneakerheads and sports fashion enthusiasts alike.

    The bold, oversized, backlit logo is configured to reveal the store’s exteriors from afar. Also reflecting its classic-meets-contemporary vibe with iconic red, white and blue colour palette, the muted store interiors serve as the ideal backdrop to showcase a show-stopping and vibrant Fila Heritage autumn/winter 2018 collection. Global campaign images are displayed around the store as a visual treat to the eyes.

    Talking about the store launch, Rohan Batra, MD of Cravatex Brands Ltd. said, “Quick on the heels of our flagship heritage store launch in Mumbai, we are excited to launch our second store in the young, vibrant city of Pune. With a dominantly cosmopolitan and fashionable student community, Pune seemed like the perfect pit stop on the road to taking on the sports fashion segment in India.”

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  • Fila opens its second heritage store in Mumbai

    Fila opens its second heritage store in Mumbai

    Fila launched its flagship heritage store in Mumbai at Fort last month. As part of the brand’s retail expansion plan for the current financial year, they have now opened doors to their second heritage store in Mumbai at Inorbit Mall in Malad.

    With Kala Ghoda being the upcoming shopping district for South Mumbai, the second store is strategically located in a popular mall in North Mumbai that sees high footfalls of consumers from other parts of the city.

    The Inorbit Malad store aims to attract the millennial customer with its classic-meets-contemporary vibe and is standardized to sync with the brand’s retail design layout across all existing and upcoming stores in India. Characterized with its signature, bold, oversized, backlit logo on the exterior and iconic red, white and blue color palette in the interiors; the design serve as the ideal backdrop to showcase a show-stopping and vibrant Fila Heritage autumn/winter 2018 collection.

    Fila has been there for iconic moments, accompanying extraordinary individuals in pursuit of true sport – those who courageously challenge limits and defy expectations through a seamless combination of power and grace.

    From its humble textile beginnings in Biella, Italy in 1911 to its historic introduction of colour on the tennis court in 1973, the brand has always taken pride in creating designs as bold and breath-taking as those wearing it. With a philosophy of innovation and a commitment to performance and sophistication, Fila continues to make a statement with styles that are novel in aesthetic and effective in function.

  • VivoCity mall extension start operating

    VivoCity mall extension start operating

    Singapore’s VivoCity mall has opened a new 3000sqm basement extension housing 10 fashion, athleisure and lifestyle brands.

    Mapletree Commercial Property Management VP for marketing communications Gwen Au said the new extension will allow shoppers to discover new retail concepts and expanded fashion and lifestyle collections.

    A new escalator lobby has been constructed leading through the extension to improve access to and from the Harbourfront MRT station.

    One of the new tenants in VivoCity B1 is Fila, which is launching three concepts under the one roof – Fila, Fila Kids, and Fila Fusion – offering buyers a range of performance, sport couture, and lifestyle collections. Adidas will also present multiple store formats in the extension, unveiling its stadium concept store (featuring performance wear) next to a new Adidas Originals flagship (offering street style fashion trends).

    Other brands opening in the extension include New Era, Nike, L.E. Underground, Weston Corp and Xiaomi.

    Images of the retail stores open can be viewed below :

     

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  • FILA launches Pokémon-inspired sneakers

    FILA launches Pokémon-inspired sneakers

    Fila Korea has collaborated with Japanese VR game franchise Pokemon on a range of colourful sneakers.

    Available via Fila South Korea, the limited-edition shoes feature Pokemon characters including Bulbasaur, Charmander, Jigglypuff, Pikachu and Squirtle. The shoes are wrapped in a Pokeball-themed box with a badge and sticker of the corresponding Pokemon.

    There are just two models: the Fila Court Deluxe and Classic Kicks.

    Orders for Hong Kong, Japan, Malaysia, Philippines Singapore, Taiwan and other Asian countries as well as the US can be placed through Harum.io.

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  • Chinese sports brands back in the race

    Chinese sports brands back in the race

    A government-backed campaign to encourage healthy living is helping give Chinese sports brands traction again in the domestic consumer market.

    After three tough years with the slowing economy and over-expansion following the Beijing Olympics in 2008, the brands are ready to compete again, thanks to cutbacks in store networks and more choice in online sales channels.

    When Beijing was preparing to host the Olympics, sportswear companies began to expand aggressively, with leading brands adding nearly 1000 points-of-sale each every year between 2007 and 2011, according to Hong Kong brokerage and investment group CLSA analyst Dawei Feng.

    However, sales were undermined by cheap knock-offs and competition from expanding overseas fashion chains such as H&M, Uniqlo and Zara.

    Between 2012 and 2013, China’s biggest sports brand Anta closed 900 shops across the country. Also cutting stores from 8255 to 6133, Li Ning became profitable last year after three years of losses.

    Anta has been working with its stores on marketing, says Bloomberg Intelligence analyst Catherine Lim. It also started a children’s brand after China scrapped its one-child policy.

    Anta, which holds distribution rights to the Fila brand in China, is the official sportswear sponsor of the Chinese Olympic Committee.

    China’s five publicly traded sportswear companies have a combined market value of about $9.4 billion, or less than a 10th of Nike, the world’s largest sporting-goods maker.