Anta Sports’ 2024 sales exceed estimate after signing NBA star

Anta Sports Products reported better-than-expected sales in 2024, a year that saw China’s biggest sportswear maker gain eyeballs overseas after signing an endorsement deal with NBA star Kyrie Irving. Revenue for China’s largest sportswear brand surged 13.6% YoY to 70.8 billion RMB ($9.79 billion) last year, surpassing analysts’ estimate of 69.4 billion RMB. Full-year gross profit margin was 62.2%, compared with the consensus estimate of 62.9%. Kyrie Irving partnership drives basketball sneaker sales The company, which signed the Dallas Mavericks guard to a five-year deal after rival Nike dropped the NBA player, saw demand for its Kai 1 basketball sneaker surge in North America. More importantly, a relentless domestic appetite for Anta products supported the sportswear brand amid China’s broader consumption slowdown. Anta Sports has already had a good start to 2025, with sales in the first two months at the company’s four major labels — Anta, Fila, Descente and Kolon — estimated to have jumped by as much as 60%, according to a Bloomberg Intelligence report, citing data from China’s four leading e-commerce platforms. The company’s performance going ahead is expected to be supported by China’s measures to boost consumption.

Anta Sports’ 2024 sales exceed estimate after signing NBA star

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Published March 19, 2025

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Anta Sports’ 2024 sales exceed estimate after signing NBA star