Anta Sports Products Limited disclosed mixed fourth-quarter retail sales performance on Jan. 20, with its flagship Anta brand declining amid consumer headwinds while FILA and other portfolio brands posted gains. The Hong Kong-listed group’s annual retail sales exceeded RMB 70 billion (€8.9bn) for the first time.
The Anta brand recorded low-single digit negative retail sales growth in the fourth quarter of 2025 compared to the same period in 2024, according to the operational update. Analysts attributed the decline to insufficient consumer momentum and macroeconomic pressures in the final quarter. For the full year, the brand posted low-single digit positive growth.
Revenue milestone despite Q4 headwinds
Despite the fourth-quarter softness in its flagship brand, Anta Sports’ total annual retail sales surpassed RMB 70 billion (€8.9bn) for the first time in 2025. The milestone reflects the strength of the group’s multi-brand strategy in offsetting weakness in individual portfolios during challenging market conditions.
Puma acquisition talks stalled
The operational update comes as Anta’s reported pursuit of a stake in German sportswear firm Puma has stalled. Reuters reported on Jan. 8 that Anta had made an offer to acquire the Pinault family’s 29 percent stake in Puma several weeks earlier, with financing secured. However, talks have since broken down, according to sources familiar with the matter. The Pinault family’s investment firm Artemis had been expecting any offer to exceed €40 per share for its Puma holding.
FILA sustains momentum across periods
FILA branded products achieved mid-single digit positive retail sales growth in both the fourth quarter and full year 2025 compared to 2024. The Italian lifestyle brand, acquired by Anta in 2009, has become a key pillar of the group’s portfolio strategy and demonstrated resilience against the macroeconomic backdrop that pressured the flagship brand.
Other brands drive strong gains
Anta’s other branded products – excluding brands joined after Jan. 1, 2024 – recorded positive retail sales growth of 35 to 40 percent in the fourth quarter and 45 to 50 percent for the full year. This portfolio includes Descente and Kolon Sport.
The retail sales figures represent revenue from consumer purchases across both brick-and-mortar stores and e-commerce platforms. The data encompasses sales through Anta-owned channels as well as those operated by distributors and franchisees.
Anta cautioned that the preliminary retail sales data does not constitute a complete picture of the group’s revenue or financial performance. The announcement is based on unaudited operational data currently available to the board and has not been reviewed by the company’s auditors.
