Anta Sports: A Compounding Multi-Brand Platform Shifting Into High Gear

ANTA Sports is executing a successful multi-brand, global expansion strategy, mitigating concentration risk and positioning itself as a global sportswear contender. Recent investments in Puma and asset-light JVs in India and Singapore enhance ANTA's international growth narrative and capital efficiency. Salomon and Kolon Sport are emerging as key growth drivers, reducing reliance on Arc’teryx and supporting a diversified, multi-brand portfolio. We reiterate a bullish rating with a $10.70–$12.35/share valuation (13x–15x forward multiple), reflecting premium positioning and 20% upside potential. Roman Nurutdinov/iStock Editorial via Getty Images ANTA ( ANPDY )( ANPDF ) has made several moves after its recent investment in Puma, which further reinforced our bullish view on the stock. On the brand portfolio side, the premium outdoor segment is shifting into growth