Misto Holdings, which owns the brand "FILA," is strengthening its distribution business in Greater China for the so-called 'K' fashion '3M' brands, namely "Mardi Mercredi," "Matt Kim," and "Marie Taittinger." This aims to secure new growth momentum by expanding its brand portfolio beyond FILA, which has successfully established itself in China.
According to industry sources on the 9th, Misto Holdings opened its first Marie Taittinger store in Greater China earlier this month in Shanghai. This brand, which develops French casual, was first established in France in 1972 and settled in the domestic market after a rebranding by the Korean fashion company Layer in 2019. Currently, Layer holds exclusive rights for the Asian market, and Misto Holdings is responsible for distribution within China.
Misto Holdings plans to open three additional stores in major cities, including Hangzhou and Beijing, starting with the Shanghai store. The goal is to enhance brand awareness by entering key commercial districts in each region, such as the IN77 landmark shopping mall in Hangzhou, Taikoo Li in Beijing, and the premium mall iapm in Shanghai.
Mardi Mercredi, a clothing brand under the distribution duties of Misto Holdings in China, has also achieved results, ranking second in the new brand category (first among women's new brands) during the '618 Shopping Festival,' the second-largest e-commerce event in China. Since its launch in 2018, Mardi Mercredi has grown with a flower-shaped logo as its brand signature and currently has 10 offline stores in China.
Matt Kim from HAGO HAUS also signed an exclusive import and distribution contract with Misto Holdings last April and opened stores in Hong Kong, Taiwan, and Macau the same year. Matt Kim plans to expand its global store count to 27 within five years.
Driven by the growth of these brands, Misto Holdings' brand distribution business revenue is rapidly increasing. The related revenue for the first quarter this year was 32.4 billion won, a 120.4% increase compared to the same period last year, surpassing last year's total revenue of 21.8 billion won in just one quarter.
FILA, which has successfully established itself in China, continues to achieve steady results. During this year's '618' event, FILA ranked second in sales among sports and sports outdoor brands, following Nike. FILA entered the Chinese market in 2009 through a joint venture with China's largest sportswear corporation, ANTA Group. Instead of directly conducting business in China, it signed a trademark contract and transferred operational rights to the ANTA Group, receiving royalties.
According to ANTA Group's previously announced '2024-2026 Three-Year Global Growth Strategy,' ANTA Sports aims to increase FILA brand sales to 40 billion to 50 billion yuan (approximately 7.6 trillion won to 9.55 trillion won). The plan is to achieve revenue growth by expanding the brand around three main areas: footwear, professional sports, and children's products. According to the latest IR materials released by ANTA Sports, FILA recorded a growth rate of 7-9% compared to the same period last year in the first quarter.
According to financial information provider FnGuide, Misto Holdings is estimated to record $1.2253 trillion in revenue and $170.6 billion in operating profit for the second quarter of this year. This represents a 4.25% increase in revenue and a 21.75% increase in operating profit compared to the same period last year.
Jung Ji-yoon, a researcher at NH Investment & Securities, noted that "Misto Holdings' brand distribution business is still small in scale, but it is expected to continue its growth trend" and added that "in the second half of this year, the company will increase large stores in China's first-tier cities and promote diversification of K fashion brands in China."