Misto Holdings, owner of the Fila brand and majority shareholder in Acushnet, Inc., the parent of the Titleist and FootJoy golf brands, reported that consolidated revenue for the 2026 first quarter increased 4.2 percent year-over-year (y/y) to KRW 1.3 trillion, while operating profit rose 19.0 percent to KRW 193.7 billion.
The company attributed the results to continued growth in the Acushnet business and improved profitability in the Misto segment, despite ongoing macroeconomic uncertainties, including slowing global economic conditions and weakened consumer sentiment. In particular, restructuring effects from U.S. business and portfolio optimization strategies contributed to improved profitability.
By business segment, the Misto division recorded KRW 185.8 billion in revenue during the quarter, a 13.0 percent y/y decline in reported terms and a 14.9 percent y/y decrease in constant-currency terms. Although revenue declined year-over-year due to the restructuring of its U.S. Fila business, revenue excluding the U.S. operations reportedly increased 3.8 percent y/y while “maintaining stable growth momentum.”
The Misto division posted an eight-fold increase in operating profit to KRW 22.1 billion.
The Greater China business maintained double-digit growth and further established itself as a key driver of the company’s growth. Major K-fashion brands including Marithe+Francois Girbaud, Matin Kim, Rest & Recreation, and Raive continued to strengthen their presence across Mainland China and Hong Kong. In particular, the company noted increased tourism traffic driven by major K-pop concerts and cultural events in Hong Kong, which contributed to stronger retail traffic and robust sales growth for K-fashion brands.
The company said Fila continued to strengthen its lifestyle footwear category centered around the “Echappe” franchise, while expanding consumer engagement through its new “Glio” lineup.
“Reflecting current fashion trends such as low-profile silhouettes and balletcore aesthetics, Glio received positive market responses shortly after launch,” the company said. “In apparel, Fila further enhanced competitiveness through its Knit Track line, which recorded approximately 74 percent sales growth during the first 12 weeks of the 2026 Spring/Summer season compared to the same period of the previous Fall/Winter season, emerging as a new signature item within the apparel category.”
The Acushnet segment posted KRW 1.1 trillion in revenue for the quarter, up 8.0 percent y/y, driven by strong performance across all categories. Sales growth was said to be supported by increased demand for Titleist T-Series irons, the newly launched Vokey Design SM11 wedges, and higher average selling prices of Pro V1 golf balls. Operating profit increased 6.9 percent y/y to KRW 171.5 billion, despite higher tariffs and increased marketing expenses related to new product launches, supported by favorable foreign exchange effects and overall sales growth.
For more information on the Acushnet business, including Titleist and FootJoy, see the coverage link at the bottom.
Misto Holdings said it continues to execute its previously announced KRW 500 billion shareholder return policy covering 2025 through 2027. In March and May of this year, the company said it approved additional treasury share buybacks totaling KRW 20 billion. As a result, cumulative shareholder returns reached approximately KRW 305.4 billion, representing 61.1 percent of the total policy target.
In addition, through its “Corporate Value-Up Plan” announced in April, the company introduced a mid- to long-term shareholder return framework, including maintaining an average total shareholder return ratio above 40 percent for 2026/27 and regular treasury share cancellations.
“Despite continued macroeconomic uncertainties, we maintained stable growth momentum based on strengthened brand competitiveness and operational efficiency improvements,” commented Aaron Lee, CFO, Misto Holdings. “Moving forward, we will continue to solidify our sustainable growth foundation through expansion in Greater China, enhancement of our brand portfolio, and profitability-focused management.”
Image courtesy Fila brand/Misto Holdings
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See below for additional SGB Executive coverage of Acushnet’s first-quarter business.
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