Core Insights - Anta Group, led by Chairman Ding Shizhong, is focusing on global expansion by learning from companies like Miniso and BYD, despite having no direct business overlap with them [1][2] - The company aims to establish its main brand, Anta, as a globally recognized cultural symbol, similar to Coca-Cola and Nike, rather than just relying on acquisitions of international brands [3][4] Business Strategy - Anta achieved over 100 billion yuan in revenue for the first time in 2024, with increasing overseas revenue contributions [3] - The company has acquired several international brands through mergers and acquisitions, including a recent $290 million acquisition of the international brand Wolf Claw [3][21] - Anta's main brand's international expansion requires building brand recognition from scratch in various overseas markets, which is a significant challenge [5][10] Market Entry - Southeast Asia is identified as the first step in Anta's global expansion strategy, with the establishment of the Southeast Asia International Business Unit in 2023 [8][15] - The company has entered markets like Singapore, Thailand, Vietnam, and Malaysia, adapting its products to local preferences while maintaining a higher price point to enhance brand positioning [9][10] Organizational Changes - In 2023, Anta restructured its management, appointing Lai Shixian and Wu Yonghua as co-CEOs to drive the global strategy [14][15] - The company has formed an international business unit to connect headquarters resources with overseas markets, focusing on Southeast Asia and the Middle East as key growth areas [15][16] Brand Development - Anta's global strategy emphasizes the importance of brand storytelling and emotional connections with consumers, which are seen as essential for long-term success [23][30] - The company is leveraging high-profile endorsements, such as NBA star Kyrie Irving, to enhance brand visibility and acceptance in international markets [30] Financial Performance - Anta's acquisition of Amer Sports in 2019 has proven successful, with Amer Sports reporting a revenue of $5.183 billion in 2024, a 19% increase year-over-year [22] - The company aims to replicate its successful domestic business model in international markets, focusing on direct-to-consumer (DTC) strategies [17][18]