Latest news with #HoYeon(Aaron)Lee
Fibre2Fashion
20-05-2025
- Business
- Fibre2Fashion
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)
Yahoo
17-05-2025
- Business
- Yahoo
Fila Parent Company Misto Holdings Reports Q1 Revenue Gains Despite Tariffs
Fila parent company Misto Holdings delivered growth in the first quarter despite the ongoing uncertainty around U.S. tariff policies. According to the South Korean company, consolidated revenue in Q1 2025 increased 4.6 percent to 1.24 trillion won from the same time last year. Operating profit in the first quarter was 162.7 billion won. More from WWD Asics Saw 'Significant Growth' in Sportstyle, Performance Running Sneakers in Q1 Birkenstock's Not Worried About Tariffs - Here's Why Dillard's Reports Drop in Net Income, Sales in Q1 The company noted the growth in Q1 was 'backed by strong performance of its U.S. golf subsidiary despite difficult macroeconomic conditions.' By business segment, the Acushnet division, the company's U.S. golf subsidiary, recorded revenue of 1.02 trillion won, up 8.7 percent compared to the same period last year. Misto noted that the division maintained a solid position based on strong sales of new Pro V1/Pro V1x and continued momentum in golf clubs. Acushnet also delivered improved performance in the first quarter despite rising raw material prices, weakening consumer sentiment, and policy uncertainties such as U.S. tariffs. Golf balls—used by 75 percent of professional tours worldwide and 68 percent of tour winners—along with clubs and gear, continued to show year-over-year growth, serving as a key driver of performance. The Misto division, which includes the Fila brand, posted revenue of 215.7 billion won in Q1. The company said the sales figure was supported by strong domestic footwear sales and diversification of online direct-to-consumer channels, even amid economic downturn. The company added that it's making multifaceted efforts to enhance brand value over the long term, including strengthening product competitiveness and increasing marketing investment. This can be seen in Fila's footwear franchise, particularly the Echappe series, received a positive response in the market. Ho Yeon (Aaron) Lee, chief financial officer of Misto Holdings, said in a statement that despite global policy uncertainties such as U.S. tariffs and weak consumer sentiment at home and abroad, sustained growth within its diversified business portfolio supported the company's overall business performance growth. 'Misto Group will continue to focus on performance improvement and brand value enhancement,' Lee said. This news comes as Misto Holdings has undergone some changes in recent months. In April, shareholders agreed to rename the company from Fila Holdings Corp. to Misto Holdings as part of a larger refocus on the business. The company said at the time that the change aimed to 'further solidify its position as a global brand portfolio company' citing that its previous name was closely associated with the Fila brand, which led to a 'limited perception' of its broader portfolio and global brand management role. (In addition to Fila, Misto Holdings also manages brands such as Titleist, FootJoy, Scotty Cameron and many others.) In fiscal 2024, the company saw consolidated revenue reach 4.27 trillion won, a 6.5 percent year-on-year increase from 2023. Originating from the sportswear brand Fila, founded in Italy in 1911, Misto Holdings acquired Fila's global business in 2007 and became a publicly traded entity on the Korean stock market in 2010. In 2011, the company expanded further with the acquisition of Acushnet Holdings Corp., home to premium golf brands such as Titleist, FootJoy, Scotty Cameron, Kjus and Vokey. Best of WWD Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Crocs Collaborations From Celebrities & Big Brands You Should Know Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Fila Holdings Reports ‘Robust' 2024 Earnings After Downsizing US Operations
Fila Holdings is wrapping up fiscal 2024 on a high note. According to the Seoul, Korea-based company, it reported 'robust' financial results for 2024, driven by the continued strength of its U.S. golf subsidiary Acushnet Holdings Corp., favorable currency exchange rates and improved cost management. More from Footwear News Academy Sports Eyes Launches from Jordan and Converse After Mixed Q4 Nike CEO Elliott Hill Is Confident Company Is On the 'Right Path' Following Q3 Results For the year, the company saw consolidated revenue reach 4.27 trillion won (approximately $2.9 billion based on current exchange rate), a 6.5 percent year-on-year increase from 2023. Fila also saw operating profit rise 18.9 percent from the previous year to 360.8 billion won ($250 million). As stated, Fila noted that its strong financial performance was primarily fueled by Acushnet's revenue growth of 7.8 percent year-over-year, reaching 3.35 trillion won, supported by sustained demand in the U.S. golf market and the continued success of Titleist golf balls and clubs. The Fila division also posted a 2.2 percent revenue increase, totaling 917.3 billion won, benefiting from a diversified business model, including joint ventures and licensing agreements, the company said. 'Strong cash flows from our core businesses, including Acushnet and our strategic joint ventures, allow us to execute disciplined capital allocation strategies that drive sustainable growth and profitability,' Ho Yeon (Aaron) Lee, chief financial officer of Fila Holdings Corp., said in a statement. 'As Fila Holdings continues to strengthen its global presence, the company remains focused on delivering enhanced value to its shareholders through disciplined financial management and strategic business expansion.' This business update comes just months after the Fila brand said it was downsizing its operations in the U.S. as it looks to cut costs. The global athletic brand said in a November filing to a South Korean financial regulator that it was undergoing a 'reorganization and downsizing part of Fila's North American operations to strengthen financial structure.' At the time of this news, the brand had scaled back its wholesale and retail business in footwear and apparel in North America. According to the filing, Fila USA's business has been impacted by headwinds in North America such as a difficult business environment and heightened competition. Fila said that it will seek to reengage in the region after it conducts a deep analysis of the market and stabilizes business. Best of Footwear News A Complete Calendar of All the Footwear Trade Shows in 2025 A Timeline of Nike's 5 CEOs That Have Held the Role Since 1972 These Theories About How Black Friday Got Started Will Surprise You
