Anta outstrips Nike in domestic sneaker sales

Anta Sports Products Ltd, a Jinjiang, Fujian province-based sportswear maker, has become a leading domestic sportswear company that has sold more sneakers in China than Nike Inc.

Last year, Anta netted revenues of more than 10 billion yuan ($15.4 billion), up 24.7 percent year-on-year, its earnings report showed. Anta has become the first Chinese sportswear brand to reach this threshold, according to the company.

Anta sold 40 million pairs of shoes in China, surpassing the US multinational sportswear giant, signaling a boom in the domestic market.