25.9 billion yuan! China's sports shoes market "changes the sky", Anta breaks the monopoly of the two giants

Date：2022-08-31 08:52:26

  Anta Group (02020.HK) released its interim results today: in the first half of 2022, it continued to maintain double-digit growth on the basis of large-base revenue, with a year-on-year increase of 13.8% to 25.965 billion yuan, and the growth rate exceeded market expectations. Compared with other sports consumer brands, Anta Group's revenue scale has jumped to the top of the Chinese market during the period, and its revenue volume is equivalent to 1.1 Nike China, 2.1 Li Ning Company, and 2.13 Adidas China.
  It is worth mentioning that the achievements of Anta Group's globalization strategy have begun to show, and the global business of Amer Sports is approaching 10 billion in half a year. In the first half of 2022, Anta Group has formed a two-wheel-drive global layout. Four major brands, Anta, Fila, Desante and Kelon, are deeply involved in the Chinese market. Amer Sports covers Asia-Pacific, North America and Europe. The revenue scale ranks first in the Chinese market, and the Chinese sports shoes and apparel market has really changed.
  In the first half of this year, Anta's revenue hit a new semi-annual high, up 13.8% year-on-year to 25.965 billion, a growth rate far exceeding the 5%-7% range expected by major banks. Anta's revenue "transcript" has surpassed Nike China, Li Ning and Adidas China, and won the Chinese sports goods market.
  Under the influence of the epidemic, the life of major consumer brands is not easy. According to the National Bureau of Statistics, the total retail sales of consumer goods fell by 0.7% year-on-year in the first half of the year. Among them, clothing, shoes and hats, and knitted textiles are the most affected consumer goods areas, with sales in the first half of the year down 6.5% compared with the same period last year.
  In the face of an uncertain business environment, Anta Group adheres to strategy-driven business. Through dynamic management and scientific operation, it still maintains a stable fundamentals above a high base, showing the characteristics of an enterprise of "rising against difficulties and high pressure". The strong resilience of "stable operation and health protection".
  Among them, Anta brand increased by 26.3% to 13.36 billion yuan, consolidating the leading position of Chinese sports brand; Fila brand revenue was 10.777 billion yuan, outperforming major international brands; Desante, Kelon Sports and other brands also performed strongly. growth momentum.
  During the period, Anta deepened the core strategy of "professionalism and brand improvement", and steadily promoted the "Winning Leader Plan". In the first half of the year, Anta's sales of high-end running shoes and basketball shoes nearly doubled year-on-year, and the unit price of customers increased by double digits.
  The 12 national team competition equipment developed and designed by Anta for the Beijing Winter Olympics, as well as the Chinese delegation's award-winning uniforms, volunteer uniforms, torchbearers uniforms and other professional technical equipment have been widely praised at home and abroad. The Olympic marketing has achieved fruitful results. Third-party data shows that Anta has developed a mass product matrix of "Olympic Technology" represented by Nitrogen Technology, Ice Skin Technology, and Blazing Technology, which has realized the precipitation and transformation of the brand value of the Olympic assets; , keeping warm and other children's exclusive sports technology, focusing on functional products such as running, basketball, outdoor, etc., to maintain the leading position in the children's sports market.
  Anta has vigorously expanded its mainstream channels in first- and second-tier cities. “Anta Champion Stores” have settled in core business districts of many first-tier cities. At the same time, it has continued to further promote the transformation of DTC, with DTC business (online + offline) accounting for 70%. DTC enhances omni-channel consumer insights, accelerates market response, optimizes same-store growth, consumer experience, and enhances retail value.
  During the period, Anta Group increased investment in digitalization and established a digital strategy of "stores as the core". Starting from consumer experience, accelerate the layout in terms of private domain construction, membership value, and precise crowd operation. In the first half of the year, the Group's online business revenue increased by more than 20% year-on-year, and its proportion increased to 28.9%; the private domain turnover of multiple brands of the group doubled year-on-year; the total number of members increased by more than 20%, and the contribution of members' turnover increased steadily.
  In an uncertain business environment, speed or quality? Anta Group's semi-annual report gives the answer.
As the core strategy of Anta Group, "multi-brand" is increasingly showing its adaptability to the increasingly diversified market with the accelerated catalysis of consumption stratification and scene refinement under the influence of the epidemic. In order to penetrate different market segments, Anta Group strategically makes targeted layouts for its three major brand groups. In terms of breadth, it spans the brand matrix of leisure, outdoor and indoor sports, and effectively realizes different sports-related scenarios. Full coverage; in terms of depth, through differentiated brand positioning from high cost performance to affordable luxury, it can meet the polarized needs of consumption downgrade and consumption upgrade at the same time.
  FILA is above a large base, from high-speed growth to high-quality growth, outperforming major international brands, with a half-year revenue of 10.777 billion, further narrowing the gap with international leading brands. FILA further promotes the strategy of "top brand, top product, top channel", sticks to the high-end fashion sports track, and strengthens the mentality of high-end sports products such as golf and tennis; sub-brands expand core customer groups such as high-end elites, avant-garde pioneers and fashion trendy kids ; The growth rate of shoe business is industry-leading, with a year-on-year increase of 15%. In the first- and second-tier mainstream channels, FILA maintains a high-end retail image and retail experience, and maintains an industry-leading average store efficiency and floor efficiency.
  In the first half of this year, the epidemic mainly occurred in first- and second-tier cities. At the peak of FILA, there was a 30% store closure rate, which was the most affected brand in Anta's internal business. However, under such difficult circumstances, in the first half of the year, FILA basically maintained the income level of the same period last year, and its performance still outperformed other major international brands in the Chinese market. At the same time, the profitability of FILA in the first half of the year also increased by 2.5 percentage points compared with the second half of last year.
  Anta Group said that from the perspective of the global market, there are few brands with a size of more than 3 billion US dollars that can continue to maintain rapid growth. After 5-6 years of turbulent progress, FILA's pursuit of growth speed in the future will give way to the emphasis and control of growth quality, refinement to create the ultimate commodity power, and intensive efforts to subdivide categories and precipitate Brand Equity.
On the other hand, the repeated epidemics in the first half of the year led to a boom in niche sports in the global outdoor market, especially in the Chinese market. In this regard, Anta once again made the right bet. Due to grasping the new trend of "outdoor fever" in the market, the two brands of Descente and Kelon maintained strong growth under the epidemic, and the revenue of all other brands increased by 29.9% year-on-year to 1.828 billion. Descente consolidates the high-end image of the brand, integrates global R&D resources to promote product innovation, and has achieved significant growth in overall store efficiency and customer unit price. The brand focuses on three professional sports fields - skiing, golf, and triathlon, creating high-end, professional , high-quality products, open up high-end communities, and promote flagship retail; Kelon creates a light outdoor lifestyle, develops women's products, strengthens the brand's high-end positioning, drives rapid business growth, builds camping, hiking and women's outdoor sports mentality, and promotes flagship stores in Landed in key cities.
  During the reporting period, the achievements of Anta Group's globalization strategy gradually emerged. Behind the semi-annual income champion, "China Anta" is becoming "World Anta".
  Amer Sports’ global business performance exceeded expectations, with revenue increasing by 21.1% year-on-year to RMB 9.67 billion; EBITDA increased by 28.2% to RMB 714 million. The business revenue of the three main brands (Archaeopteryx, Salomon, Wilson) has reached a new high year-on-year, and is becoming the new growth engine of the group, which fully verifies the group's multi-brand incubation ability and the strategy of developing niche market segments in advance. success.
  In the first half of the year, Anta Group further strengthened the global innovation platform for commodity power innovation, and carried out in-depth cooperation with well-known universities and research institutions such as Tsinghua University and Donghua University, and announced that it would invest 1 billion yuan in R&D innovation funds every year and set up a million-dollar bonus Encourage employee product innovation.
  Anta Group stated in its semi-annual report that although the complex situation at home and abroad and the epidemic have brought many uncertainties, the crisis contains new opportunities, the enthusiasm of global consumers for healthy sports is still high, and the sports shoes and apparel market still has huge development. opportunity. In particular, the series of policies introduced by my country to promote the rapid development of the sports industry and promote the integration of sports and education have brought strong benefits and brought new opportunities for the development of Anta Group's multi-brands. Anta adheres to its strategy and goals, pays attention to and grasps new kinetic energy, new channels and digital opportunities in the market, adheres to long-termism and continuous innovation, and never stops to realize the vision of "becoming the world's leading multi-brand sportswear group".