Fila (company)

Last updated
Fila
Type Public
KRX: 081660
Industry
Founded Biella, Piedmont, Italy
1911;110 years ago (1911)
FounderEttore Fila
Giansevero Fila [1]
Headquarters
Biella, Piedmont, Italy
(1911-2007)
Seoul, South Korea
(since 2007)
Area served
Worldwide
Key people
Yoon Keun-chang (CEO) [2]
Products
Parent FILA KOREA Ltd. [3]
Website fila.com

Fila Holdings Corp. (d/b/a Fila) is a South Korean sportswear manufacturer that designs shoes and apparel founded by Ettore and Giansevero Fila in 1911 in Biella, Piedmont, Italy. In 2003, it was sold to United States-based Sports Brand International. [4] And subsequently in 2007, Fila Korea acquired the brand. [5] In September 2010, it launched its initial public offering on the Korea Exchange. [6] [7] [8] [9]

Contents

Through its subsidiary Magnus Holdings Co., Ltd, Fila Holdings owns a 52% stake in Acushnet Company. [10] Fila Holdings' largest shareholders include Piemonte Co., Ltd at around 20%, Fila Holdings at 20%, and South Korea's National Pension Service at around 13%. [11] Gene Yoon (Yoon Yoon-su), who owns a 75% stake in Piemonte, [12] serves as the chairman of Fila Holdings. The chief executive officer is Yoon Keun-chang. [13] Fila has offices in 11 countries globally.

History

Fila store in K11, a mall in Hong Kong HK TST K11 mall 50 shop FILA clothing.JPG
Fila store in K11, a mall in Hong Kong

Fila was created in Biella, Piedmont, Italy, by Ettore and Giansevero Fila in 1911. [14] It originally made clothing for the people of the Italian Alps, primarily underwear. In the 1970s it moved into sportswear, with an endorsement deal with tennis player Björn Borg. The brand became more popular after the move into sportswear.

In 2003, the original Italian owner, Holding di Partecipazioni, sold the company to Cerberus Capital Management, a U.S.A.-based hedge fund, after the company over-committed itself to expensive athletic endorsements at a time when margins were under pressure. Cerberus owned Fila through holding company Sports Brands International, which owned and operated all Fila businesses around the world with the exception of Fila Korea, which was a separate company operating the brand under licence.

In January 2007, the brand and all its international subsidiaries were acquired by Fila Korea. [15]

In 2009, ANTA Sports acquired the rights to the brand in China, Hong Kong, and Macao from the then Fila company's Chinese joint venture partner Belle International. Fila Korea still owned 15% shares of the joint venture company "Full Prospect". [16]

In May 2011, Fila Korea Ltd. acquired global golf equipment maker Acushnet Company, becoming the new owner of leading golf brands such as Titleist for $1.23 billion. [17] [18]

In October 2019, South Korean boy group BTS became the global brand ambassadors of Fila.

In March 2021, Fila China stated that it would continue to source cotton from Xinjiang despite public criticism that such cotton had been produced with forced Uyghur labor in the region. [19]

See also

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References

  1. ↑ "Fila, Hypebeast.com". Archived from the original on 2020-02-17. Retrieved 2020-02-17.
  2. ↑ "Executive Bios at Fila.com". Fila.com. Archived from the original on 4 July 2011. Retrieved 9 July 2011.
  3. ↑ 휠라코리아/반기보고서/2018.08.14" 전자공시시스템. Retrieved October 4 2018.
  4. ↑ "Fila Purchase Completed; Executive Team Named". 10 June 2003. Archived from the original on 25 February 2020. Retrieved 25 February 2020.
  5. ↑ "Fila Sold to Fila Korea". 18 January 2007. Archived from the original on 25 February 2020. Retrieved 25 February 2020.
  6. ↑ "Fila Korea Doubles From IPO Price on Seoul Debut". Bloomberg.com. 2010-09-28. Archived from the original on 2020-02-25. Retrieved 2021-04-01.
  7. ↑ Chamikutty, Preethi (2012-10-03). "How FILA's Gene Yoon plans to build a strong brand presence in India". The Economic Times . India. Archived from the original on 2021-04-01. Retrieved 2019-09-24.
  8. ↑ "Fila reboots in India". Forbes India . India. Archived from the original on 2019-09-24. Retrieved 2019-09-24.
  9. ↑ Mathew, Sunalini (2019-04-19). "FILA and VegNonVeg drop a new Mindblower shoe". The Hindu . India. Archived from the original on 2021-04-01. Retrieved 2019-09-24.
  10. ↑ http://info.fila.co.kr/ir/ENG/DATA/2019_3Q_IR%20Material.pdf%5B%5D
  11. ↑ "Do Directors Own Fila Korea LTD. (KRX:081660) Shares?". Archived from the original on 2020-02-25. Retrieved 2020-02-25.
  12. ↑ "NPS to vote for Fila Korea's split-off plan". Archived from the original on 2021-04-01. Retrieved 2020-02-25.
  13. ↑ "Fila Korea appoints new CEO, executives". The Korea Times. South Korea: The Korea Times. 2018-03-25. Archived from the original on 2019-09-24. Retrieved 2019-09-24.
  14. ↑ "History". Fila. Archived from the original on 5 October 2017. Retrieved 4 October 2017.
  15. ↑ "SBI Sells Fila Business to Fila Korea… | SGB Media Online". sgbonline.com. 22 January 2007. Archived from the original on 2020-07-09. Retrieved 2020-07-07.
  16. ↑ "DISCLOSEABLE TRANSACTIONS PROPOSED ACQUISITION OF FULL PROSPECT LIMITED AND FILA MARKETING (HONG KONG) LIMITED" (PDF). ANTA. Hong Kong Stock Exchange. 12 August 2009. Retrieved 29 March 2011.
  17. ↑ "Fila Korea buys Titleist for global expansion". Yonhap News. 2011-05-21. Archived from the original on 2012-05-13. Retrieved 2011-09-20.
  18. ↑ Thomas, Denny; Robert MacMillan (2011-05-20). "Fila Korea buys Titleist golf company for $1.2 billion". Reuter. Archived from the original on 2011-09-03. Retrieved 2011-09-20.
  19. ↑ Hyun-su, Yim (March 30, 2021). "Fila stays silent after Chinese unit vows to continue using Xinjiang cotton". The Korea Herald . Archived from the original on March 31, 2021. Retrieved April 1, 2021.
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