Fila was created in Biella, Italy, by the Fila brothers in 1909. It originally started by making clothing for the people of the Italian Alps, now manufacturing sportswear for men, women, kids and athletes. Fila Korea now holds all rights to worldwide use of the footwear and clothing brand owned by the parent company. Fila Korea reported $706 million dollars in revenue during 2018’s second quarter, which up from $619 million.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Fila.
Fila At A Glance – Fila SWOT Analysis
Company: FILA Holdings
Founders: Ettore Fila | Giansevero Fila
Year of establishment: 1911, Italy
CEO: Yoon Geun-chang
Headquarters: Seoul, South Korea
Employees (Dec 2020): 5,700
Ticker Symbol: FILA
Annual Revenue (Dec 2020): US$2.6 Billion
Profit net income (Dec 2020): US$334 Million
Products & Services: Shoes and apparel | Athletic shoes | Clothing | Sneakers and sportswear | tennis gear | Accessories
Company Website: www.fila.com
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Fila SWOT Analysis – SWOT Analysis Of Fila
SWOT Analysis Of Fila analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Fila SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Fila SWOT Analysis. Below Is The Detailed SWOT Analysis Of Fila.
Fila Strengths – Fila SWOT Analysis
1. The history of the brand: It is a genuine sports brand that embodies an essence that reflects Italian tradition. Fila is proud of its legacy and tradition. Fila makes use of premium fabrics that offer the greatest flexibility and performance and the Fila products represent the sophistication of Italian manufacturing. The brand is aware of the beauty of sport and is committed to standing out, not becoming a part of it. The sports brand is rebranding itself as a brand with a long history. The company has been in the process of bringing its products that were popular in the 1990s to a popular segment and successfully changing their brand name.
2. Famous sports brand ambassadors for brands: The Fila brand has always had fun and maintained connections with outstanding athletes and those with an intense love for sport and performance. Fila has backed Kim Clijsters, who was the first to be crowned the winner of the US Open in 2009 following having retired for 18 months. Fila continues to support sporting events like the BNP Paribas Opens in Indian well, Porsche Tennis Grand Prix as well as an official licensee for footwear of Wimbledon. Fila has a long tradition of collaborating with individuals who have had an impact on sport’s history. The brand’s presence is based in India has a partnership with Ranvijay Singh to promote its motorsports clothing.
3. Nostalgia brand: The Fila’s “heritage” category is taking most from the retail market. “The “Ugly Shoe” movement has brought old-fashioned, bulky shoes back into style. The brand’s “heritage” category is building revenues for the brand, and the sales of this segment went increased by 1465 in 2018. Many are able to identify to the brand as a nostalgic brand. There aren’t any famous or sports endorsers, and the focus is on the brand. The style is now the most in popular fashion of the season.
4. Innovation: Fila utilizes innovative thinking at the core of all its designs. Its the evolution of the brand is inspired by the notion of creativity. Fila Skates is changing the skating world by introducing performance-oriented designs for the ice skates as well as inline. The brand also launched gender-neutral sports toiletries which were named “Change the game” which ensures freshness and protection during the entire day. The Fila sneakers called Disruptor are the most sought-after sneakers of this season. The collection is water resistant, breathable and fashionable.
Fila Weaknesses – Fila SWOT Analysis
1. Competition: Fila has a very slow rate of growth when compared to its popular competitors such as Addidas or Puma. In 1997 the year of Fila’s US sales hit a record high of $687 million was reached in 1997 and then the issues began the company’s attempt to get into the luxury sector. Nike is among the most renowned brands in the sport segment when it comes to footwear. involved, and no company is even near to Nike. Addidas brand is an expert in sports items manufacturing and provides an extremely tough challenge to Fila. Reebok offers an impressive brand and market share. It is also the 3 3rd most powerful competitor to Fila
2. Distribution and stores: The brand requires for it to build a strong presence in multi-brand stores in India and needs to increase their retail reach. The company was unable to define its identity due to shifting ownership. The company in India has just 4 independent stores located in Mumbai. It is required to create an Omni the channels retail format to meet the needs of the Indian customers. The company has only 250 large format stores pan-India. The brand is required to grow by establishing a franchisee network with standalone retail stores. Fila must improve the sales it makes online, which are only 10% sales at present. The brand must improve its visibility, improve their distribution network, and boost its visibility through marketing as well as marketing.
Fila Opportunities – Fila SWOT Analysis
1. Intending into casual clothing and sports equipment: The demand for brand-name-centric clothing and sneakers with a retro designs have been growing. Fila clothes are becoming more popular and creating a new style for sportswear. The Fila sneakers Disruptor that were an instant hit in the 90s is now growing to become the most sought-after women’s shoes of 2018. The tops from this Fila label are among the top sought-after section for the label. The company has concentrated its business on the category of sports shoes and has to now invest in the increasing portion of the apparel industry. The motorsports segment has great prospects in India and requires a specific create and design products specifically that are specifically designed for specific products for the Indian market.
2. More advertising: The brand must advertise more often to increase its brand’s image and visibility. It’s evident that the company isn’t involved in traditional media like print and TV, but it is spending money on the digital channels. However, its rivals are investing huge sums in their advertisements, which is resulting in the formation of an enduring branding community. Nike in their commercials are more successful than the shoes they sell They don’t even speak about their products, but they tell a compelling story that connects the brand with superior performance and quality. Fila India’s CEO Fila India plans to create an appealing brand image and hopes to connect Fila with movement and not performance.
Fila Threats – Fila SWOT Analysis
1. Brand Presence: It has been in existence for a quite a while but it is in need of a lot of work to improve its image. It’s not quite as competitive in its marketing and promotion strategies similar to Addidas and Nike which are both well-established in this regard. Fila requires out-of-the-box strategies when it’s using the internet for its ads. It has a great social media community, however it has lots of work to do before being able to compete with its competition. Brands are emerging better strategies to boost visibility for their brand and Fila may be lost in the sea of competition. The brand’s availability isn’t a problem, however, establishing an identity for the brand in the highly competitive sports market isn’t an easy feat.
2. Changes in trends: To stay ahead of young people and be appealing to them is among the most difficult areas for a brand. Fila must consider collaborations with influencers and content marketing strategies to remain relevant to the millennial generation. The fashions are constantly changing It is hard to stay ahead and make products that are appealing for the millennials, whose tastes change constantly. The goal should be to engage with the customers and provide them with experiences that are brand-related. Fila is still relying on its past when it revamps its old products and brings them into the market. Brands that are rooted in the past are likely to be less popular. The brand must balance the present, past, and future.
This is the SWOT report that Fila has done. Please let us know if you have additional suggestions to add.
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