South Korea's Misto Holdings Q1 FY25 revenue rises 4.6% to $892.8 mn
South Korea's sports apparel company Misto Holdings, formerly Fila Holdings, has reported a consolidated revenue of 1.24 trillion won (~$892.8 million), up 4.6 per cent year-over-year (YoY) in the first-quarter (Q1) of 2025. The company's operating profit rose to 162.7 billion won (~$117.15 million).
Misto Holdings has reported a revenue of 1.24 trillion won (~$892.8 million), up 4.6 per cent YoY in Q1 2025, with operating profit at 162.7 billion won (~$117.15 million). Acushnet divisions' revenue rose 8.7 per cent on strong golf product sales. The Misto division saw 215.7 billion won in revenue, driven by domestic footwear and online DTC growth. It continues investing in brand value.
By business segment, the Acushnet division recorded revenue of 1.02 trillion won, up 8.7 per cent YoY maintaining a solid position based on strong sales of new Pro V1/Pro V1x and continued momentum in golf clubs. Meanwhile, Acushnet delivered improved performance in Q1 despite rising raw material prices, weakening consumer sentiment, and policy uncertainties such as US tariffs, Misto Holdings said in a press release.
The Misto division posted revenue of 215.7 billion won, supported by strong domestic footwear sales and diversification of online DTC channels, even amid economic downturn. The company is making multifaceted efforts to enhance brand value over the long term, including strengthening product competitiveness and increasing marketing investment.
Fila's footwear franchise, particularly the Echappe series and the traction from the 2030 consumers increased significantly, receiving a positive response in the market. Misto group's diversified brand business portfolio—including royalties and joint ventures—also continues to show steady performance.
'Despite global policy uncertainties such as US tariffs and weak consumer sentiment at home and abroad, sustained growth within our diversified business portfolio supported our overall business performance growth. Misto group will continue to focus on performance improvement and brand value enhancement,' said Ho Yeon (Aaron) Lee, chief financial officer (CFO) at Misto Holdings.
Fibre2Fashion News Desk (SG)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
20 hours ago
- First Post
Lee Jae-myung, Trump talk tariffs, alliance in first call since South Korea election
During the phone call with Trump, Lee 'emphasised the importance of the South Korea-US alliance as the foundation of the country's diplomacy' read more South Korea's President Lee Jae-myung takes his oath during his inauguration ceremony at the National Assembly in Seoul on June 4. Reuters South Korea's new leader, Lee Jae-myung, and Donald Trump agreed in a phone call to work towards a tariff agreement, Seoul said on Friday, as a deadline for avoiding harsh US tariffs approaches. Lee scored a landslide win in South Korea's election this week, ending months of political upheaval in Asia's fourth-largest economy. The United States imposed a 25% duty on Seoul in April as part of Trump's broad global tariffs, before putting the country-specific prices on hold for 90 days. STORY CONTINUES BELOW THIS AD 'The two presidents agreed to make an effort to reach a satisfactory agreement on tariff consultations as soon as possible that both countries can be satisfied with,' Lee's office said in a statement. 'To this end, they decided to encourage working-level negotiations to yield tangible results.' During the phone call with Trump, Lee 'emphasised the importance of the South Korea-US alliance as the foundation of the country's diplomacy'. 'They praised each other's leadership and affirmed their commitment to strengthening the alliance through close cooperation,' Lee's office said. Trump invited Lee to a summit in the U.S. and they plan to meet soon, according to a White House official. The two leaders also shared stories from the campaign trail, including of assassination attempts and political difficulties, and agreed that strong leadership emerges as they overcome difficulties, Lee's office said. Lee survived a knife attack and underwent surgery when he was stabbed in the neck by a man during an event last year. Trump and Lee also talked of their golf skills and agreed to play golf when possible, Lee's office said, while Lee mentioned that he was gifted a hat with Trump's signature on it. STORY CONTINUES BELOW THIS AD South Korea's central bank last month almost halved its annual growth forecast to 0.8 percent, down from the 1.5 percent projected in February. The new leadership in Seoul will also have to contend with Trump's decision to this week double tariffs on aluminium and steel imports to 50 percent. Washington is Seoul's long-time security ally and has around 28,500 troops stationed in South Korea. The allies signed a new five-year agreement last year on sharing the cost of stationing US troops in South Korea, with Seoul agreeing to raise its contribution by 8.3 percent to 1.52 trillion won ($1.1 billion) for 2026. Before returning to the White House in January, Trump said that Seoul would pay billions more annually if he won the presidential election.
Mint
2 days ago
- Mint
South Korea's New Leader Is Facing an Old Problem
South Korea's new president has only been in the job a few days, but he already risks repeating past mistakes. The moment calls for a rethink in the US ally's defense posture. It's unclear if Lee Jae-myung is up to the task — or whether he will cling to failed strategies to deal with nuclear-armed North Korea. The left-leaning leader secured victory on Tuesday, and healing a divided nation will be his top priority. The country is still reeling from the fallout of a brief period of martial law imposed by his predecessor, the now-impeached Yoon Suk Yeol. The economy is entangled in President Donald Trump's trade war, and faces a 25% across-the-board levy due to go into effect in July unless a deal is struck. Lee's first day in office was marked by Trump's move to raise import taxes on steel and aluminum to 50% from 25%. Bloomberg Intelligence warns the domestic steel industry could be severely hurt, as America accounted for over 10% of its 2024 exports. Still, even with these pressing economic concerns, security is focusing minds both domestically and globally. North Korea is acting with more confidence thanks to its expanding ties with Russia. It shares a fraught relationship with its other partner, China, which is no longer as close, but Beijing's expansionist agenda is worrying the region and the West. Seoul cannot afford to create any potential opening for Kim Jong Un to destabilize the peninsula further. His regime is accelerating its nuclear weapons and ballistic missiles program at a rapid pace. Current estimates suggest Pyongyang has enough fissile material to build up to 90 nuclear warheads, the Atlantic Council notes. Kim has placed increasing importance on nuclear weapons development as a way to overcome the South in any eventual war. Lee is acutely aware of the challenges. During his inaugural speech on Wednesday, he said he planned to counter the threats through 'strong deterrence' anchored in the South Korea-US alliance, while also pursuing a willingness to 'open lines of communication' with Pyongyang. Notably silent in response to Lee's remarks, the North had become increasingly hostile in the Yoon years, rejecting dialogue and threatening to use its atomic weapons. Up until now, Seoul has relied on Washington for its security, but that partnership is under pressure. Trump has pushed US allies to step up military spending in return for deploying American troops in conflict zones. In October, he said South Korea would pay billions of dollars more every year if he were in the White House and called the long-time ally a 'money machine.' The White House has been ambiguous about whether the US military will continue to offer protection as it has in the past. US troops have been based in the South since the 1953 armistice that formally ended the Korean War, with the aim of deterring Pyongyang. Reports of a potential withdrawal of a brigade from the peninsula is making Seoul nervous. The US Department of Defense has dismissed concerns, but others have noted the issue is under serious consideration at the Pentagon, US Forces Korea, and Indo-Pacific Command. Adding to the anxiety, Secretary of Defense Pete Hegseth skipped Seoul on his recent trips to the region. Indeed, during a speech at the International Institute for Strategic Studies Shangri-La Dialogue, a premier regional security forum in Singapore last weekend, South Korea was barely mentioned. Trump likes to point to his relationship with Kim as the reason why he thinks he can bring peace to the Koreas. In March, he said he plans to reach out to the North Korean leader 'at some point.' But Lee would be wise to remember what happened during the US president's first term, when closer ties between Trump and Kim led to the scaling down of some major military drills. Lee has an opportunity to mitigate the risks of an unpredictable White House by building on the relationship with Japan, despite historic tensions. A united front between Seoul and Tokyo would enhance regional stability and present a stronger deterrent against North Korea. Japan has welcomed the new leader's overtures, with Prime Minister Shigeru Ishiba proposing a face-to-face summit soon. Investing more in homegrown missile defense would also be prudent. In January, Seoul began the development of an interceptor system after Israel's Iron Dome, aimed at shielding civilians and military assets from potential strikes by the North. It's expected to come into operation in 2028. Domestic defense companies are also ramping up investment in AI-powered military technologies. Staying ahead in this arena will be crucial to curbing Kim's nuclear ambitions. Finally, public opinion will likely compel Lee to seriously consider the case for nuclear armament, as a way to develop autonomous self-defense and reduce dependence on the US. With North Korea's nuclear weapons program now widely seen as irreversible, sentiment has shifted dramatically. Polls consistently show that over 70% of citizens support developing their own nuclear deterrent. South Korea's new president will need to balance their desires with the alliance with Washington. The Trump administration's unpredictability is forcing Lee to take decisive action to protect his citizens, with or without America's lead. More From Bloomberg Opinion: This column reflects the personal views of the author and does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Karishma Vaswani is a Bloomberg Opinion columnist covering Asia politics with a special focus on China. Previously, she was the BBC's lead Asia presenter and worked for the BBC across Asia and South Asia for two decades. This article was generated from an automated news agency feed without modifications to text.
The Hindu
2 days ago
- The Hindu
Reddit sues Anthropic for allegedly 'scraping' user comments to train chatbot Claude
Social media platform Reddit sued the artificial intelligence company Anthropic on Wednesday, alleging that it is illegally "scraping" the comments of millions of Reddit users to train its chatbot Claude. Reddit claims that Anthropic has used automated bots to access Reddit's content despite being asked not to do so, and 'intentionally trained on the personal data of Reddit users without ever requesting their consent.' Anthropic said in a statement that it disagreed with Reddit's claims "and will defend ourselves vigorously.' Reddit filed the lawsuit Wednesday in California Superior Court in San Francisco, where both companies are based. 'AI companies should not be allowed to scrape information and content from people without clear limitations on how they can use that data,' said Ben Lee, Reddit's chief legal officer, in a statement Wednesday. Reddit has previously entered licensing agreements with Google, OpenAI and other companies that are paying to be able to train their AI systems on the public commentary of Reddit's more than 100 million daily users. Those agreements 'enable us to enforce meaningful protections for our users, including the right to delete your content, user privacy protections, and preventing users from being spammed using this content,' Lee said. The licensing deals also helped the 20-year-old online platform raise money ahead of its Wall Street debut as a publicly traded company last year. Anthropic was formed by former OpenAI executives in 2021 and its flagship Claude chatbot remains a key competitor to OpenAI's ChatGPT. While OpenAI has close ties to Microsoft, Anthropic's primary commercial partner is Amazon, which is using Claude to improve its widely used Alexa voice assistant. Much like other AI companies, Anthropic has relied heavily on websites such as Wikipedia and Reddit that are deep troves of written materials that can help teach an AI assistant the patterns of human language. In a 2021 paper co-authored by Anthropic CEO Dario Amodei — cited in the lawsuit — researchers at the company identified the subreddits, or subject-matter forums, that contained the highest quality AI training data, such as those focused on gardening, history, relationship advice or thoughts people have in the shower. Anthropic in 2023 argued in a letter to the U.S. Copyright Office that the "way Claude was trained qualifies as a quintessentially lawful use of materials,' by making copies of information to perform a statistical analysis of a large body of data. It is already battling a lawsuit from major music publishers alleging that Claude regurgitates the lyrics of copyrighted songs. But Reddit's lawsuit is different from others brought against AI companies because it doesn't allege copyright infringement. Instead, it focuses on the alleged breach of Reddit's terms of use, and the unfair competition, it says, was created.
