Lululemon Founder Chip Wilson Notches A 32% Gain As China Sports Brand Anta Hits Record [Forbes]
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Source: Forbes
Lululemon Founder Chip Wilson Notches A 32% Gain As China Sports Brand Anta Hits Record The exterior of an Anta sports flagship store in the youthful central China city of Wuhan. Photo credit: Getty Shares in Anta Sports Products gained 4.7% at the Hong Kong Stock Exchange last week after China’s most valuable sports brand posted an increase in first-half earnings. Anta, led by billionaire brothers Ding Shizhong and Ding Shijia, said on Monday revenue in the first six months of 2019 rose by 40% from a year earlier to 14.8 billion yuan, or $2.1 billion; net profit climbed by 28% to 2.5 billion yuan. Its Hong Kong-traded stock closed at an all-time high of HK$65.30 on Thursday before losing HK$0.30 to HK$65 on Friday. Anta ended the week with a 4.7% gain from a close of HK$62.10 on Friday, Aug. 23. Anta’s shares have risen by half in the past year. Anta’s revenues increased in part of the strength of its Fila-brand fashion sports business; Fila sales soared by 80% from a year earlier t
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