FILA Holdings Corp.

- Overall earnings remain stable compared to the same period last year, boosted by subsidiary Acushnet’s record quarterly revenue

FILA Holdings announced its second-quarter results through public disclosure on Aug. 14, including 1.15 trillion won in consolidated revenue.

The company’s earnings remained at a similar level to the same period last year based on its globally diversified brand portfolio and the highest-ever quarterly revenue of its golf-related subsidiary Acushnet.

Reaching 906.01 billion won, Acushnet’s quarterly revenue rose 9.3% year-on-year to solidify its presence in the North American market. Meanwhile, FILA’s group-wide revenue of 241.00 billion won represented a double-digit year-on-year decrease.

Acushnet’s record earnings were driven by strong demand for Titleist golf balls and clubs. Its overall sales in the U.S. market, which has a leading position in the region, grew 14.2% as the industry’s strength was demonstrated by a 5.5% increase in the number of golf rounds played in the U.S. during the first half of 2023 compared to the same period last year.

FILA continues to adjust sales channels and improve its business in regions where it operates directly under its five-year global strategy “WINNING TOGETHER.” Moreover, FILA’s diversified brand business portfolio saw ongoing robust sales in China, where the brand operates a joint venture business, and in other global regions where it has royalty businesses.

This year marks the 50th anniversary of FILA’s 1973 debut in the sports world. The brand is celebrating its established status as a true sports brand by recently launching a global campaign featuring inspiring messages from sports legends. FILA has additionally received positive reviews for refreshing its brand by continuously introducing collaborations with fashion-leading partners from around the world. For instance, its joint shoe product with Korean designer brand The Museum Visitor sold out in 28 seconds of its launch, and world-renowned designer Haider Ackermann visited Korea to celebrate the shoe’s release, all of which drew the attention of the global industry. FILA will maintain that attention as it is set to launch a further collaboration with a popular street brand in the second half of this year. Based on this stable cash flow, it plans to focus on leaping forward by redefining itself as a premium lifestyle sports brand.

"Despite the unfavorable fashion business environment at home and abroad, we have been able to focus on rebuilding the FILA brand - with the backing of the strong brand power of our golf-related subsidiary and a diversified brand business portfolio," said FILA Holdings CFO Ho Yeon (Aaron) Lee. He added, “FILA will spare no efforts enhancing brand value.”