FILA Holdings has disclosed a positive first quarter for 2024, with consolidated revenue climbing to 1.18 trillion won and operating profit reaching 163.25 billion won, marking increases of 6.7% and 1.8% respectively compared to the previous year. This growth is primarily attributed to the robust performance of its golf-related subsidiary, Acushnet, which itself posted a revenue of 939.95 billion won due to popular demand for its new golf products in the North American market.
Additionally, FILA’s revenue saw a rise to 242.67 billion won, fueled by effective execution of its mid- to long-term strategy aimed at bolstering the brand’s value. This strategy includes enhancing product quality and boosting marketing efforts. Notably, FILA USA improved its quarterly results by cutting down on discounted sales, while FILA Korea enjoyed consumer acclaim for its latest sportswear range.
The company also intensified its focus on tennis, organizing the “2024 WHITE OPEN SEOUL” to promote tennis culture and reinforcing its status at the 2024 BNP Paribas Open as the event’s longest-standing apparel and footwear sponsor.
Ho-Yeon (Aaron) Lee, CFO of FILA Holdings, highlighted that despite the challenging economic environment marked by high inflation and interest rates, the company’s strategic initiatives have led to improved earnings. FILA is committed to further enhancing its brand value and ensuring continued investment in quality and performance.
