Anta brand CEO Xu Yang has resigned, following recent weak performance for the flagship brand of Anta Sports Products Ltd. The Chinese company said he resigned for family reasons and that he will be transferred to another position within the company.
Lai Shixian, co-CEO of Anta Sports Products Limited, has assumed the role of interim CEO of the Anta brand.
Xu’s resignation comes after the Anta brand’s revenue rose just 3.7 percent last year to ¥34.8 billion ($5.14 billion), accounting for about 34 percent of total sales. That marked a sharp slowdown from the brand’s 10.6 percent growth in 2024. The brand’s gross margin last year also fell 0.9 percentage points to 53.6 percent.
Xu was responsible for the earlier success in China of the Arc’teryx brand, which Anta acquired in 2019 as part of its acquisition of a majority stake in Amer Sports. Xu returned to the Anta brand in January 2023 and was tasked with upgrading its image and boosting sales.
Xu had earned credit for enhancing the brand’s position in running and basketball, including extending Kyrie Irving’s signature line into overseas markets while rolling out new retail formats — Super Anta, Anta SV and Anta Champion — aimed at premium commercial districts and younger consumers.
Image courtesy Anta Sports Products Ltd.
