Visitors gather at Anta's booth during an expo in Shanghai on May 14. CHINA DAILY
Anta Sports Products Ltd has replaced the head of its flagship Anta brand, as its ambitious retail transformation shows signs of slowing.
Xu Yang, CEO of the Anta brand, resigned for family reasons, the company said recently. Group co-CEO Lai Shixian has assumed the role effective immediately and will oversee the brand's daily operations. Anta said its medium- and long-term strategy for the core brand remains unchanged.
The management reshuffle comes after a three-year effort led by Xu to reposition Anta through an expansive direct-to-consumer (DTC) strategy, diversified store concepts and new premium product lines.
While the initiative strengthened the brand's operating capabilities, it also increased costs and failed to sustain the pace of growth targeted by management, according to an industry expert.
