HONG KONG, (Reuters) — ANTA Sports Products Ltd, China's biggest footwear retailer by market value, posted a forecast-beating 28 percent rise in first-half net profit on Wednesday and said it was on the prowl for acquisitions to help it expand overseas. ANTA, which has retail stores and counters in Southeast Asia, Eastern Europe and the Middle East, said it had expanded its presence in emerging markets in the first half and singled out growth in children's products and its e-commerce business for its solid performance. "We are looking at acquisitions to grow our business overseas," chairman Ding Shizhong said at a results conference. "We are looking at some targets. They are brands," he added, without elaborating. China's sportswear companies are emerging from years of overzealous expansion that had been fuelled by the 2008 Beijing Olympic Games fever, which resulted in bloated inventories. ANTA, which has a market value of $4.4 billion, said net profit for the six months ended June rose to 802.8 million yuan ($130.15 million), up from 625.7 million yuan in the same period a year earlier. That compared with an average forecast of 758 million yuan by three analysts polled by Reuters. Turnover amounted to 4.12 billion yuan, up 22 percent. Ding said the company was the first among its peers to recover, although that did not mean others would bounce back at the same pace as the industry still faced uncertainty due to a lack of product differentiation and fierce competition. ANTA's shares closed up 5.2 percent in afternoon trade after the results to HK$14.24, their highest since July 2011, and outperforming a 0.3 percent fall in the benchmark Hang Seng Index. China's rapid urbanisation, an improvement in livelihoods and the popularity of sports in the country would further drive demand for affordable sportswear, the company said. ANTA, which competes with Li Ning Co Ltd and foreign rivals such as Nike Inc and adidas AG , said its order value for delivery in the first quarter of 2015 maintained positive growth with a low double-digit increase year-on-year.
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)