Anta's premium, outdoor brands power profit growth

Anta Sports Products Ltd showed its multi-brand strategy is becoming the main engine of earnings growth after premium and outdoor labels outperformed its flagship business.

First-half revenue rose 12.9 percent to 43.51 billion yuan ($6.1 billion), while operating profit grew at a faster pace of 16.1 percent to 11.76 billion yuan, reflecting a richer sales mix and improving operating efficiency, according to the company's interim results for the period ended June 30, 2026. Gross margin widened 0.5 percentage point to 63.9 percent, while operating margin improved to 27 percent.

The results indicate the group continues to outpace China's broader sportswear market, but its growth profile is shifting. While the namesake brand remains the group's largest business, most of the earnings momentum now comes from its premium and specialist labels.

Revenue from the flagship Anta brand rose 4.8 percent to 17.77 billion yuan, well below the group's overall growth rate. Operating profit increased just 1.2 percent to 3.99 billion yuan, while operating margin narrowed to 22.5 percent from 23.3 percent a year earlier. The brand contributed 40.8 percent of group revenue during the period.

FILA, Anta's premium sports-fashion label, continued to deliver more profitable growth. Revenue increased 6.1 percent to 15.05 billion yuan, while operating profit climbed 9.7 percent to 4.32 billion yuan, lifting its operating margin to 28.7 percent. Strong demand for tennis, golf and women's apparel helped the brand maintain its pricing power. FILA accounted for 34.6 percent of group sales.

The company's fastest-growing business remained its portfolio of newer brands, including Descente and Jack Wolfskin. Revenue from this segment jumped 44.2 percent to 10.69 billion yuan, while operating profit rose 43.9 percent to 3.54 billion yuan. The brands now contribute nearly one-quarter of group revenue, benefiting from growing consumer demand for outdoor activities, premium sportswear and lifestyle products.

The earnings reflect a broader shift in the country's sportswear market. Consumers remain cautious on discretionary spending, but demand has held up for brands offering differentiated products and stronger technical positioning, particularly in outdoor sports and premium performance categories.

Anta continued to invest in future growth despite an uncertain consumer environment. Research and development spending reached 1.11 billion yuan in the first half, with the company expanding its use of internally developed artificial intelligence models across product design, merchandising and supply-chain management to boost operating efficiency.

Chairman Ding Shizhong said Anta Group would continue investing in brand development, product innovation and global management capabilities, arguing that the company's multi-brand model depends on operational expertise rather than acquisitions alone.