The head of Anta Sports Products Ltd.’s (2020.HK) namesake Anta brand has stepped down, following recent weak performance for the sportswear brand, Caixin reported on Wednesday. Anta brand CEO Xu Yang resigned for family reasons, and will be transferred to another position in the company, a spokesperson told Caixin.
Xu’s resignation comes after the Anta brand’s revenue rose just 3.7% last year to 34.8 billion yuan ($5.14 billion), accounting for about 34% of total sales. That marked a sharp slowdown from the brand’s 10.6% growth in 2024. The brand’s gross margin last year also fell 0.9 percentage points to 53.6%.
Xu was responsible for the earlier success in China of the company’s premium Arc’teryx’s brand, which Anta acquired in 2019. He returned to the Anta brand in 2023, and was given the tasks of upgrading its image and boosting sales.
Anta’s shares are down about 8.2% this year, ahead of even bigger declines of 19% and 30.6% for smaller rivals Li Ning (2331.HK) and Xtep (1368.HK), respectively.
By Doug Young
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