Core Viewpoint - The recent controversy surrounding FILA's customer service has raised significant concerns about the brand's management and consumer perception, despite its revenue growth in recent years [2][3]. Group 1: Revenue Performance - FILA achieved a revenue of 14.18 billion yuan in 2022, marking an 8.6% year-on-year increase, indicating a strong contribution to Anta Group's overall revenue [2]. - However, revenue growth has shown signs of slowing down, with year-on-year changes of -1.4% in 2022, +16.6% in 2023, and +6.1% in 2024, contrasting sharply with previous years' double-digit growth [3]. - The proportion of FILA's revenue within Anta Group has also declined, from 40.3% in 2022 to an expected 37.6% in 2024 [3]. Group 2: Market Challenges - The increase in competition within the sports fashion sector has led to a dilution of FILA's brand advantage, as similar brands have emerged, making it harder for FILA to maintain its premium pricing strategy [3]. - Changing consumer preferences towards outdoor sports have resulted in a decrease in demand for sports fashion, further complicating FILA's market position [3]. - Issues related to product quality and customer service have been reported, including complaints about shoe quality and after-sales service, which have negatively impacted consumer trust [6]. Group 3: Management Changes - In response to the challenges faced, FILA underwent a management restructuring in January, with the departure of long-time leader Yao Weixiong and the appointment of Jiang Yan to oversee the brand [6]. - The new management faces significant challenges in revitalizing growth and addressing ongoing issues related to product quality and customer service [6].