by In March and April, the 13.6 percent sales growth of Anta Group set up to 9.77 billion US dollars (over 14.6 billion US dollars including Amer Sports) for the 2024 financial year as the third “Yuan Club” member in sports dress. This milestone stands up in China’s sluggish consumption environment, which is characterized by the weak domestic and foreign demand.
Anta’s profit for the year was $ 2.34 billion and rose by 50.7 percent compared to the previous year. On a consolidated basis, the profit, which is due to the shareholders, rose to $ 1.62 billion compared to the previous year. The profit, which was due to the shareholders, rose by 52.4 percent compared to the previous year to $ 2.15 billion. The basic result per share was 5.55 yuan, which rose by 50.4 percent compared to the previous year. Despite these remarkable shareholders, 7 percent on the day of the winning report of the stock price of Anta in the afternoon with the steepest fall.
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The decline was attributed to two factors: a minor decline in the gross profit span of the group and the operating profit margin on the one hand and a slowdown at Fila, which was once the growth engine and the group of the group. According to the group’s financial report, the gross profit margins from Anta, Fila and other brands decreased by 0.4 percent, 1.2 percent and 0.7 percent. Fila, which has contributed to almost half of the group’s profits in the past ten years and achieved a gross profit span of up to 70 percent, recorded the greatest decline last year.
Ding Shizhong, chairman of Anta and Amer Sports, said: “Fila is in the most important transformation period.” He believed that “it is okay as long as the sales of Fila exceeds 4.14 billion US dollars and achieves adequate growth.”
Anta created a matrix of sports brands with a total value of more than 100 billion Yuan through strategic acquisitions and the collaboration of eight high-end brands such as Arc’tteryx and Descent under its roof. According to thing, the most important standard when evaluating a brand is whether the market share increases every year.
It is true that the market for sports shoes and clothing has enough space for future growth. On the Chinese market, the National Health Commission proposed during the two meetings in 2025 to continuously promote the “Year for Weight Management” plan. With the explosion in the market scale up to trillions Yuan, the sports clothing industry will welcome a “golden season”.
A day earlier than the Anta Group, XTEP International announced its total annual performance for 2024. The financial report showed that the turnover of xteps continuous business activity rose 6.5 percent to $ 1.87 billion. The sales of the brand rose by 3.2 percent to 1.7 billion US dollars. The sales of the professional sports segment rose by 57.2 percent to $ 172.4 million compared to the previous year. The profit, which is due to the owner of the common equity, achieved a historical high of 170 million US dollars, an increase of 20.2 percent.
Xtep, which has achieved record profits, has entered the last year of its “five -year plan” this year. As early as 2021, when Xtep broke through the 10 billion Yuan turnover stamp for the first time, the chairman Ding Shuibo set a five-year target of $ 2.76 billion for the umbrella brand with a composed annual growth rate of 23 percent and a combined sales of $ 550 million for new brands with an compound annual growth rate of more than 30 Percent to achieve. However, the results of the last year show that there is still a gap of almost a third of this goal, which has increased expectations for 2025.
At that moment, Xtep, which sold his sports brands K-Swiss and Palladium last year to concentrate on the core sectors, has for the first time to generate sales of more than $ 138 million, and it is expected to become the second growth curve of the group. In addition, China has become the second largest market in the world for ongoing clothing with almost 300 million runners. In view of the growing market scale and the strategy of the “specialists, the masses influence”, the settlement of the XTEP running shoes has reached the list at large marathon events. In the 2024 Xiamen marathon, more than 12,000 runners carried Xtep running shoes among the 30,000 participants in the full marathon. Such a dominant data performance enables XTEP, the main force in the first Echelon and the Saucony in the second Echelon, to achieve a two -engine growth, albeit in different stages.
At the latest event of Xiamen Marathon, more than 12,000 runners with XTEP running shoes took part among the 30,000 participants in the full marathon.
It is reported that Anta invested 276 million US dollars in research and development in 2024, with an average daily research and development effort of $ 690,000. On the other hand, XTEP prepares to increase its investments in the strategy of direct consumers of his main brand and aim to improve the brand image and operational efficiency through better retail management. Anta and Xtep both strive to improve business in order to improve the shopping experience and further increase the value of their brands.
Lilanz China, a men’s fashion brand, also plans channel transformation and increases the proportion of the DTC model. According to his financial report of 2024, the turnover was $ 503 million, an increase in the previous year by 3 percent and the net profit 63.6 million, a decrease of 13.1 percent compared to the previous year. With the exception of growth of 18.3 percent in 2023, the results of the company decreased between 2020 to 2022. In fact, Lilanz China had already implemented a DTC model for the main lilacy series in the Northeast region and the province of Jiangsu in the previous year. However, this measure led to a decline in wholesale sales, which affected total sales.
In general, China’s men’s fashion industry is in painful integration and transformation. In the first three quarters of 2024, sales of Septwolven decreased by 7.7 percent and the net profit after the derived non -order items had decreased by up to 82.7 percent, with the operational cash flow quickly deteriorated. For Jooeone, who delivered the ceremonial clothing for Chinese athletes at the Olympic Games in Paris, the net profit after deduction did not fell away by 29.2 percent in the first three quarters of 2024, without the investment income being submitted.
Lilanz has presented his youth business to less and actively promotes the transformation to a younger population group.
Not only the channel transformation, but also the reinvention of brands and new generations carry out the changes in consumption. Lilanz as an example of being connected to the Joint Venture Company received the rights to the high-end golf course brand Munsingwear in China in August 2024; However, there is still no news about the opening of the first business. In the meantime, Lilanz’s youth business is less directed for a younger population group.
The Womenswear, on the other hand, presents a “dumbbell -shaped” market. All six important players registered in 2024 declines: The revenue from peace forces decreased by 12.3 percent, Jinhong Fashion (the teen -wet owner) fell by 3.3 percent, while Eeka fashion expects a decline in profit by around 45 percent. Despite the digitization efforts and the trends “dopamine dressing”, high returns and style transition costs are plagued by the sector.
The Multi -Brand matrix of the Eeka fashion.
Although the increasingly high return on women’s clothing had overwhelmed the industry to a certain extent, digitization remains a battlefield of the competition. In addition, marketing has focused on “emotional attraction” how online fashion trends such as dopamine dressing and endorphin triggered fashion that can also lead to a certain extent to a certain extent.
When the growth dividend fades, Chinese fashion companies change from a “scale competition” to “in-depth formation of values”. Regardless of whether the investment in technology, the modernization of shops or the orientation towards certain consumer groups, all these efforts aim to redefine the relationship between “people, products and the marketplace”, based on the latest trends. In the second half of 2025, those who have the double skills of “intensive vertical specialization” and “agile innovation” will probably win against the competition.
Note from the publisher: China Insight is a monthly function of the sister publication of WWD.
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