Anta buys female yoga brand

Anta Sports Products (2020) has bought a 75.13 percent stake in Mayiya Clothing, which owns the Maia Active sportswear and yoga apparel brand.

Its shares rose 1 percent on the news.

Without revealing the price, Anta said the buyout will add value to its female business segment and meet the needs of a wider customer base.

Female yoga apparel has become popular in China, and US brand Lululemon has seen its income from China soar to US$628 million (HK$4.9 billion) in 2022.

Maia Active is one of its Chinese competitors, in addition to Li Ning (2331), Xstep (1368) and Beneunder.

Meanwhile, Xstep said retail sales of its core brand posted a high-teens yearly growth in the third quarter. The discounts were 25 to 30 percent, and the channel inventory turnover ranged from 4.5 to 5 months. Both were the same as the period one year ago. But Xstep's shares dropped 2.1 percent yesterday, wiping out the 0.97 percent gained as the market opened.

In other news, Chinese sportswear brand 361 Degrees (1361) said its sales of its core brand grew about 15 percent yearly. Its shares ended 0.97 percent lower.