Anta announces 2010 results
Chinese sports brand Anta Sports has announced the annual results of the company and its subsidiaries for the financial year ending 31 December 2010.
The company has continued to penetrate into high growth areas with a focus on second and third tier cities in China to take advantage of opportunities brought by urbanisation and wage increases.
The number of Anta stores grew in 2010 by 958 to 7,549, compared to 6,591 in 2009.
According to Anta, the group introduced approximately 2,100 new footwear products, 3,700 pieces of apparel and 2,000 accessory items during 2010.
The firm plans to focus its store expansion efforts in second and third tier cities, which continue to be an engine for growth in the country.
“As the Chinese economy expands steadily and the trend of rising wage continues, the surge in disposable income and domestic consumption continued to fuel the growth and prospects of the sportswear industry,” said Ding Shizhong, chairman and CEO of Anta Sports. “We believe the prospect of the mass market is still inspiring and we strive on leveraging our competitive strengths to foster a more desirable market share. In order to sustain our profitability and that of retailers, we will implement more effective cost control measures and closely work with retailers to ensure their store efficiency and inventory levels are healthy.”
