Fila Downsizes U.S Operations to Cut Costs - Footwear …

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Fila Retreats From US Market After Mounting Losses

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Nov 7, 2024 · The South Korean company shuttered key operations of Fila USA on Monday, cutting off a unit that contributed 6.5% of the group’s total revenue last year. The US division’s …

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FAQs about Fila Downsizes U.S Operations to Cut Costs - Footwear … Coupon?

Why is Fila downsizing its operations in North America?

The South Korean-owned Fila brand is downsizing its operations in North America as it looks to cut costs. ...

What happened to FILA USA?

Fila USA, a global sports apparel brand with tennis roots, will scale down operations and lay off 130 Maryland workers in response to an expected decline in U.S. sales. ...

How many employees will Fila lay off in Baltimore?

Fila USA will lay off 130 employees in Greater Baltimore, including 18 at the company’s U.S. headquarters, as part of a broader downsizing of its North American operations. The South Korean sportswear maker will lay off 112 workers at a Curtis Bay warehouse and 18 employees at its new Towson headquarters, Fila officials confirmed Thursday. ...

Is Fila reorganizing its North American business?

The global athletic brand said in a Tuesday filing with to a South Korean financial regulator that it is undergoing a “reorganization and downsizing part of Fila’s North American operations to strengthen financial structure.” As of Monday, the brand has scaled back its wholesale and retail business in footwear and apparel in North America. ...

Is Fila laying off employees?

Fila USA is laying off staff at its U.S. headquarters in Towson Commons. The layoffs include more than a dozen employees at its U.S. headquarters. Fila USA will lay off 130 employees in Greater Baltimore. Layoffs will occur between Jan. 6 and Sept. 30. Fila is downsizing to enhance financial performance and resilience. ...

Does Fila expect sales to decline in North America?

Fila expects sales to decline in North America in the short term but anticipates a stronger financial structure in the region in the mid to long term. Fila noted in the filing that its U.S.A operations brought in $220.6 million in revenues last year, making up about 6.5 percent of total revenue for the company. ...