Fila

History

In 1906, brothers Ettore and Giansevero Fila joined the Giuseppe Regis and Figli di Coggiola wool mill in Biella, Piedmont, Italy. In 1911, the Regis brothers withdrew from the company and the wool mill took the name Fratelli Fila S.p.A. Fila was officially established in 1923. It originally made clothing for the people of the Italian Alps, primarily underwear. In 1973, it moved into sportswear, with an endorsement deal with tennis player Björn Borg, and the brand became more popular after the transition.

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 1997. 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.

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

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".

In September 2010, Fila Korea Ltd. launched its initial public offering on the Korea Exchange. In May 2011, it acquired global golf equipment maker Acushnet Company, becoming the new owner of golf brands such as Titleist and FootJoy, for $1.23 billion.

Sourcing concerns

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.

References

References

1. [http://dart.fss.or.kr/dsaf001/main.do?rcpNo=20180814000704 "휠라코리아/반기보고서/ 2018.08.14"]. 전자공시시스템. Retrieved October 4 2018.
2. Void, Tyrone. (2022-07-31). "The Story Behind the 100-Year History of Fila, Its Future & More You Didn't Know".
3. (7 January 2020). "Do Directors Own Fila Korea LTD. (KRX:081660) Shares?".
4. (14 November 2019). "NPS to vote for Fila Korea's split-off plan".
5. (2018-03-25). "Fila Korea appoints new CEO, executives". [[The Korea Times]].
6. "Fila Foundation Museum".
7. Pederson, Jay P.. (February 21, 2003). "International Directory of Company Histories. Vol. 52.". [[St. James Press]].
8. (18 January 2007). "Fila Sold to Fila Korea".
9. Hartford, Teresa. (22 January 2007). "SBI Sells Fila Business to Fila Korea…". SGB Media Online.
10. (12 August 2009). "Discloseable Transactions Proposed Acquisition of Full Prospect Limited and Fila Marketing (Hong Kong) Limited". Hong Kong Stock Exchange.
11. (2010-09-28). "Fila Korea Doubles From IPO Price on Seoul Debut". [[Bloomberg News.
12. Chamikutty, Preethi. (2012-10-03). "How FILA's Gene Yoon plans to build a strong brand presence in India". [[The Economic Times]].
13. "Fila reboots in India". [[Forbes India]].
14. (2011-05-21). "Fila Korea buys Titleist for global expansion". [[Yonhap News Agency]].
15. (2011-05-20). "Fila Korea buys Titleist golf company for $1.2 billion". [[Reuters]].
16. Hyun-su, Yim. (March 30, 2021). "Fila stays silent after Chinese unit vows to continue using Xinjiang cotton". [[The Korea Herald]].