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Korean firm Fila Holdings' revenue at KRW 990.19 bn in Q3 FY23

17 Nov '23

1 min read

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In Q3 FY23, Fila Holdings, a South Korean sportswear company, reported consolidated revenue of KRW 990.19 billion, buoyed by subsidiary Acushnet's strong sales.
Acushnet's revenue rose to KRW 778.95 billion, a 3.3 per cent year-on-year increase.
However, the Fila brand experienced challenges, with its revenue dropping 35.1 per cent to KRW 211.25 billion.

Fila Holdings, a South Korean sportswear manufacturer, has reported a consolidated revenue of South Korean won (KRW) 990.19 billion (approximately $0.77 billion) for the third quarter of fiscal 2023 (Q3 FY23), bolstered significantly by the robust sales of its subsidiary Acushnet.

Acushnet reported a notable increase in its quarterly revenue, reaching KRW 778.95 billion. This represents a 3.3 per cent growth year-on-year. The increase in Acushnet’s revenue was further complemented by its enhanced profitability, attributed to lower selling, general, and administrative expenses, particularly in logistics costs, Fila said in a press release.

In contrast, the Fila brand itself faced more challenging conditions. The brand recorded a quarterly revenue of KRW 211.25 billion, marking a substantial 35.1 per cent decrease compared to the same period last year. This decline was a result of changes in its direct business operations and increased investment in its global five-year ‘Winning Together’ strategy, which was launched in 2022.

Fibre2Fashion News Desk (DP)

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