“In 2024, the global economic recovery decelerated, while China emphasised high-quality development and accelerated the cultivation of new productive forces, maintaining a positive growth trajectory. Consumption emerged as the primary driver of the national economy, with diversified, quality-oriented, and personalised spending gradually becoming the norm. Notably, the consumption of sports goods exhibited resilient growth, becoming a significant contributor to the macroeconomic trend toward high-quality development”, pointed out Ding Huihuang, Chairman of the company.

2024 Results

361 Degrees° reported a revenue of 10.07 billion renminbi (1.27 billion euros) in the financial year 2024, which reflects an increase of 19.6%, on a comparable basis to the previous year.

The adult footwear segment contributed 4.28 billion reminbi (543.3 million euros) to the company’s total revenue, up by 22.1% year-on-year, and the adult apparel segment contributed 3.09 billion renminbi (392.2 million euros), up by 15.2% year-on-year.

“The revenue from 361° kids business continued to grow, with footwear and apparel products sales demonstrating a positive momentum”, the company said. The kids’ footwear segment contributed 1.09 billion renminbi (138.4 million euros), up by 17.5% year-on-year, and the kids’ apparel segment contributed 988.3 million renminbi (125.5 million euros), up by 22.6% year-on-year.

The Others segment (including accessories and shoe soles) contributed 383.7 million renminbi (48.7 million euros), up by 26.8% year-on-year.

Another highlight of 2024 for the Chinese company was the growth of 12.2% to 2.61 billion renminbi (331.3 million euros) in its e-commerce business, which accounted for approximately 25.9% of total revenue.

“Recognizing the maturing online consumption habits and the diversification of consumer behavior, the Group firmly believes that the e-commerce business will continue to play a significant role in revenue contribution and brand promotion, as the mutually empowering online-offline model continues to optimize”.

361 Degrees’ 2024 profit attributable to equity shareholders increased by 19.5% year-on-year to 1.15 billion renminbi (145.9 million euros), with basic earnings per share increasing by 19.5% year-on-year to 55.6 cents (7.03 euros).