Anta Sports - Anta closed 2025 with a milestone: annual revenue topped ¥80 billion (about €10 billion), a 13.3% increase that cements its spot as the world's third-largest sports brand — but the surge in sales masked weakening profitability and margin pressure that could shape its global expansion strategy.
- In short: Revenue hit a record >¥80 billion, yet net profit fell 7.8% to €1.95 billion amid margin compression and higher operating costs.
Understand the dynamics behind the numbers
Anta’s top-line strength — driven by domestic demand and a 70% jump in international revenue — contrasts with a notable drop in net income. Analysts point to a mix of one-off comparisons and rising costs as the cause; Reuters has repeatedly highlighted similar margin squeezes across global apparel firms in the last two years.
Management flagged that a valuation uplift in Amer Sports in 2024 had temporarily inflated prior results, making 2025 comparisons tougher. Simultaneously, Anta deliberately absorbed short-term cost increases to fund long-term growth initiatives.
"Annual revenue surpassed ¥80 billion with 13.3% growth, while net profit fell 7.8% to €1.95 billion; gross margin declined to 62% and payroll rose 16.7% in 2025."
Context and impact: expansion, costs and new bets
Anta’s international push included the purchase of a 29% stake in PUMA and the acquisition of Jack Wolfskin, moves that raised headcount and payroll (up 16.7%). Retail strategy also shifted: after opening 260 stores in 2024, the company cut 32 outlets in 2025 and plans roughly 160 closures by the end of 2026 to streamline the network.
The group is also experimenting with digital commerce: AI-driven "digital humans" have produced over 100,000 hours of live content and generated more than 300 million yuan in transactions, underscoring a pivot to continuous, automated engagement.
What do you think? Will Anta’s short-term hit to profitability pay off for its global ambitions? For more details, check out our specialized section.