Fila

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Not to be confused with F.I.L.A. (company).
Fila Holdings Corp.
TypePublic
KRX: 081660
Industry
Founded
Founder
  • Ettore Fila
  • Giansevero Fila
Headquarters
Area served
Worldwide
Key people
Gene Yoon, Chairman
Products
ParentFILA KOREA Ltd.[1]
SubsidiariesAcushnet Company
Websitefila.com

Fila Holdings Corp. is a sportswear brand of shoes and apparel. The company was founded by Ettore and Giansevero Fila in 1911 in Coggiola, near Biella, Piedmont, Italy.[2][better source needed] In 2003, it was sold to United States-based Sports Brand International.[3] Subsequently, in 2007, Fila Korea acquired the brand.[4] In September 2010, it launched its initial public offering on the Korea Exchange.[5][6][7]

Through its subsidiary Magnus Holdings Co., Ltd, Fila Holdings owns a 52% stake in Acushnet Company.[8] 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%.[9] Gene Yoon (Yoon Yoon-su), who owns a 75% stake in Piemonte,[10] serves as the chairman of Fila Holdings. The chief executive officer is Yoon Keun-chang.[11]

History

Björn Borg in 1981

In 1906, brothers Ettore and Giansevero Fila joined the Giuseppe Regis and Figli di Coggiola wool mill in Biella, Piedmont, Italy. In 1911,[12] the Regis brothers withdrew from the company and the wool mill took the name Fratelli Fila S.p.A;[13] Fila was officially established in 1923. It originally made clothing for the people of the Italian Alps, primarily underwear.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 transition.[14]

In 1988, Fila changed ownership from Italian chemical company SNIA S.p.A. to Fiat-controlled holding company Gemina, later restructured as Holding di Partecipazioni. In 1991, Fila shifted focus from clothing in Europe to footwear in the US, and completed a buyout of its US license. High-profile sponsorships, including basketball players Grant Hill and Jerry Stackhouse, helped make Fila America's fastest-growing footwear brand by 1995.[14]

In 2003, Holding di Partecipazioni sold the company to Cerberus Capital Management, a US-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]

Ducati 999R with Fila sponsorship

In 2009, Anta Sports acquired the rights to the brand in China, Hong Kong, and Macao from 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 golf brands such as Titleist and FootJoy, for $1.23 billion.[17][18]

In October 2019, South Korean boy group BTS became the global brand ambassadors of Fila.[19]

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.[20]

Sponsorships

Baseball teams

Tennis players

References

  1. ^ 휠라코리아/반기보고서/2018.08.14" 전자공시시스템. Retrieved October 4 2018.
  2. ^ "Nel 1909, usciti dalla ditta Loro Piana & Fila, i fratelli si associarono con altri e diedero vita alla ditta G. Regis & C., sita in Coggiola. In seguito, con il recesso dei fratelli Regis, i Fila ne divennero unici proprietari e la ditta assunse il nome di Fratelli Fila, succ. Regis & C." in[1]
  3. ^ "Fila Purchase Completed; Executive Team Named". 10 June 2003. Archived from the original on 25 February 2020. Retrieved 25 February 2020.
  4. ^ "Fila Sold to Fila Korea". 18 January 2007. Archived from the original on 25 February 2020. Retrieved 25 February 2020.
  5. ^ "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.
  6. ^ 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.
  7. ^ "Fila reboots in India". Forbes India. India. Archived from the original on 2019-09-24. Retrieved 2019-09-24.
  8. ^ http://info.fila.co.kr/ir/ENG/DATA/2019_3Q_IR%20Material.pdf[permanent dead link]
  9. ^ "Do Directors Own Fila Korea LTD. (KRX:081660) Shares?". Archived from the original on 2020-02-25. Retrieved 2020-02-25.
  10. ^ "NPS to vote for Fila Korea's split-off plan". Archived from the original on 2021-04-01. Retrieved 2020-02-25.
  11. ^ "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.
  12. ^ "FILA History". FILA Holdings Corp. Archived from the original on 2022-03-18. Retrieved 2022-06-25.
  13. ^ "Fila Foundation Museum". CulturalHeritageOnline. Retrieved 2022-08-31.
  14. ^ a b "History of Fila Holding S.p.A." FundingUniverse. Archived from the original on 2021-04-20. Retrieved 2022-06-25.
  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. ^ Pace, Lily (October 1, 2019). "BTS Are Now Global Brand Ambassadors For Fila". Billboard. Archived from the original on May 2, 2020. Retrieved October 7, 2019.
  20. ^ 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.
  21. ^ "Fila among brands signing with KBO teams ahead of new season". Sportbusiness.
  22. ^ a b c d e Brown, Elijah (2022-06-24). "Fila Reveals Its Updated 'White Line' Collection Featuring Timeless Tennis Silhouettes". Footwear News. Retrieved 2022-06-28.
  23. ^ a b c Hammond, Cale (Jun 29, 2020). "FILA outfits new generation with old school style". Tennis.com. Retrieved 2022-06-28.
  24. ^ "FILA Announces Sponsorship of Australian Tennis Player Alexei Popyrin". fila.newsmarket.com. Jan 18, 2022. Retrieved 2022-06-28.
  25. ^ a b c d Newcomb, Tim (Jun 22, 2022). "Fila Announces New Speedserve Energized Tennis Sneaker". Forbes. Retrieved 2022-06-28.
  26. ^ "FILA's Laura Siegemund Triumphant in New York, Wins First Women's Grand Slam Doubles Title at U.S. Open". The NewsMarket. Sep 12, 2020. Retrieved 2022-06-28.
  27. ^ Naderi, Nima (2021-07-29). "FILA Welcomes American Phenom Robin Montgomery to Roster of Sponsored Tennis Athletes". Tennis Connected. Retrieved 2022-06-28.
  28. ^ Zivlak, Marija (March 30, 2022). "Dress like the WTA Players: 2022 Sunshine Swing edition". Women's Tennis Association. Retrieved 2022-06-28.

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