who owns fila sportswear

FILA : A Brand with a Rich History and Ownership

When it comes to sportswear brands that have stood the test of time, one name that undoubtedly comes to mind is FILA. The brand, which has its roots in Northern Italy, has been around for over a century and is known for its distinctive designs and high-quality products. But who exactly owns FILA sportswear today? In this article, we'll delve into the brand's fascinating history and explore how ownership has evolved over the years.

The Early Years of FILA

FILA was founded in 1911 by the Fila brothers, Giansevero and Ettore, in the town of Biella in Northern Italy. Originally, the company specialized in making textiles for the local community, but they soon began to expand into other areas, including knitwear and clothing. By the 1960s and 70s, FILA had become a leading gymwear brand, known for its high-performance tennis apparel in particular.

Ownership in the 1980s and 90s

In the 1980s, FILA was acquired by a South Korean conglomerate called Mirae, which helped to expand the brand's global reach. Mirae owned FILA for nearly two decades but ultimately decided to sell it in the late 1990s. The brand was acquired by US-based Sports Brands International, which subsequently changed its name to FILA Holdings Corporation.

FILA in the 21st Century

Today, FILA is still owned by FILA Holdings Corporation, which is listed on the Korean stock exchange. However, the brand has undergone many changes in recent years as it seeks to stay relevant in an ever-changing market. In 2007, FILA was acquired by Fila Korea Ltd., a subsidiary of Fila Holdings, in a deal worth $400 million. Fila Korea has since restructured the company, focusing on streamlining production and increasing sales through strategic partnerships and collaborations.

Subheading 1: The Rise and Fall of FILA in the 2000s

While FILA remained popular in Asia throughout the early 2000s, it struggled to maintain its market share in the West. The brand was seen by many as outdated, and young consumers were more interested in newer, trendier brands like Nike and Adidas. FILA responded by collaborating with fashion designers and influencers to create limited edition collections, but these efforts did not have a significant impact on sales.

Subheading 2: FILA Makes a Comeback in the 2010s

In recent years, FILA has mounted a successful comeback thanks to a renewed focus on its core identity as a sportswear brand. The company has created new lines of performance apparel and footwear, and its retro designs have become popular with millennials and Gen Zers. FILA has also signed sponsorship deals with high-profile athletes and sports teams, further cementing its status as a leading player in the market.

Subheading 3: FILA's Current Ownership Structure

As mentioned above, FILA is currently owned by Fila Korea Ltd., a subsidiary of FILA Holdings Corporation. While the brand's headquarters are in Seoul, the company has a global presence, with distribution in over 70 countries worldwide. Fila Korea's CEO, Yoon Keun-chang, has been credited with reviving the brand and helping it compete with larger rivals like Nike and Under Armour.

Subheading 4: Future Plans for FILA

Looking ahead, FILA's future is looking bright. The brand has seen strong growth in recent years, with revenue surpassing $1 billion in 2019. FILA has stated that it plans to continue expanding into new markets and product categories, with a focus on sustainability and innovation. The brand has also pledged to donate a portion of its profits to charitable causes, further solidifying its reputation as a socially responsible company.

Conclusion

FILA sportswear has been around for over a century, and its ownership has changed hands several times over the years. Today, the brand is owned by Fila Korea Ltd., a subsidiary of FILA Holdings Corporation. After a period of decline in the early 2000s, FILA has mounted a successful comeback in recent years and is now a leading player in the gymwear market. The brand's future looks bright, with plans to continue expanding and innovating while maintaining its commitment to sustainability and social responsibility.

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