"Golf Subsidiary Growth" Fila Holdings, Highest Quarterly Sales in 1Q

Fila Holdings recorded its highest quarterly sales despite the global economic downturn and the slowdown in the distribution market, thanks to the brand competitiveness of its golf-related subsidiaries.

Fila Holdings announced on the 16th that its consolidated sales for the first quarter of this year reached 1.1086 trillion KRW, a 3.3% increase compared to the same period last year.

By business segment, golf-related subsidiary Acushnet posted sales of 875.4 billion KRW, up 19.9% year-on-year, driven by strong demand mainly in the North American market and solid sales across all categories. Newly launched golf balls, clubs, and gear products gained great popularity, leading to performance growth, while logistics cost reductions due to supply chain stabilization also contributed positively.

The Fila division recorded sales of 233.2 billion KRW, a double-digit decrease compared to the previous year. However, the diversified brand business portfolio, including royalties and joint ventures in various regions, continues to show steady business performance.

Fila Holdings plans to make this year a turning point for change and continue efforts for the group’s sustainable growth. Fila is preparing to launch collaborative collections with various leading domestic and international partners, and is conducting product launches and marketing activities to celebrate the 50th anniversary of its tenniswear line this year.

Lee Ho-yeon, Chief Financial Officer (CFO) of Fila Holdings, stated, “Despite the unfavorable business environment caused by the global economic slowdown and weakened consumer sentiment, the sustained growth of golf-related subsidiaries and Fila’s royalty sales supported our profitability. The Fila Group is focusing on redefining brand value based on its five-year strategy and plans to concentrate on improving profitability.”