361° may become the 4th Chinese sports brand to achieve annual revenue of over 10 billion RMB

In the first half of 2024, 361°showed a strong performance growth trend. On August 12, 361°announced its financial results for the first half of 2024. According to the report, the company's revenue increased by 19.2%, rising from 4.31 billion RMB in the same period last year to 5.14 billion RMB this year. Additionally, the net profit attributable to shareholders also saw a significant increase of 12.2%, reaching 790 million RMB.

In terms of specific business areas, 361°'s children's business and e-commerce business experienced particularly notable growth. Revenue from the children's business increased by 24.2% to 1.13 billion RMB, while e-commerce revenue grew by 16.1% to 1.25 billion RMB.

Looking at the product categories, the growth rate for footwear reached 20.1%, surpassing the overall growth rate, and the revenue share for footwear increased from 44.1% to 44.4%. Notably, with revenue of 5.14 billion RMB in the first half of the year, if 361°can maintain this performance in the second half, it is expected to exceed 10 billion RMB in annual revenue, making it the fourth domestic sports brand to achieve this milestone.

361°'s growth is impressive. In 2023, its revenue increased from 6.961 billion RMB to 8.423 billion RMB, a growth rate of 21%. In comparison, industry leader Anta's revenue in 2023 was 62.356 billion RMB, with a growth rate of 16%. Li Ning's revenue in 2023 was 27.598 billion RMB, with a growth rate of 7%. Xtep's revenue was 14.346 billion RMB, with a growth rate of 11%.