FILA Holdings Corp.

- Acushnet’s brisk business helps to drive growth, while FILA plans to focus on improving profitability under its five-year global strategy

FILA Holdings announced its first-quarter results through public disclosure on May 12, including 1.11 trillion won in consolidated revenue, which marked a 3.3% increase from the same period last year.

Despite the global economic downturn and a slowdown in the distribution market, FILA Holdings’ subsidiary, Acushnet Holdings, helped to drive overall year-on-year growth by recording its highest-ever quarterly revenue.

With emphatic brand competitiveness, Acushnet posted 875.42 billion won in revenue, up 19.9% from the same period last year. Meanwhile, FILA’s revenue of 233.18 billion won represented a double-digit year-on-year decrease.

Acushnet has proven its solid presence in the North American market, showing strong sales in all categories based on high demand. Its first-quarter revenue growth was boosted by the rapid popularity of its newly launched golf balls, clubs, and gear.

Meanwhile, FILA’s sales channels continue to be adjusted in the regions where the brand operates directly, with a long-term perspective being guided by its five-year global strategy “WINNING TOGETHER.” FILA’s sales performance has been robust in regions where the brand operates through royalty and joint venture businesses in line with its diversified portfolio.

Going forward, FILA Holdings plans to make this year a turning point while continuing to strive for sustainable growth. FILA will soon unveil collaborative collections with various industry-leading domestic and foreign partners. And in celebration of the 50th anniversary of FILA tennis wear this year it is preparing to launch related products and marketing activities. As a notable example, the tennis festival “2023 WHITE OPEN SEOUL” held by FILA Korea at Gwanghwamun Square in April proved to be a resounding success with active visitor participation over two days. The event received positive reviews for showing FILA's 50-year tennis heritage within its 112 years of brand history.

“Despite the unfavorable business environment, such as a decline in consumer sentiment due to the global economic slowdown, we have seen the continued growth of Acushnet while FILA’s royalty and joint venture businesses have supported earnings by contributing to a stable business structure,” said FILA Holdings CFO Ho Yeon (Aaron) Lee. He added, “FILA is focusing on redefining our brand value under the ‘WINNING TOGETHER’ strategy, and will aim to improve profitability.”