Chinese Sportswear Manufacturer ANTA To Make Push For International Markets
Chinese sportswear maker ANTA Sports Products Ltd. said on Tuesday that "it will persist with its push into international markets, as domestic profits decline," according to Gao Changxin of CHINA DAILY. CEO Ding Shizhong said that "Eastern Europe and the Middle East will be the Jinjiang, Fujian-based company's focus this year." ANTA opened its first store in Dubai in the first half. However, Ding said that ANTA's priority "is still the domestic market, and its global push will be based on regions, not any single country." The CEO reported that first-half profit dropped 18.7% year-on-year to 625.7M yuan ($102M). Free cash flow contracted 34.6% to 540.6M yuan ($88M). Ding said, "ANTA will stick closely to its established plan to expand internationally" (CHINA DAILY, 8/7).