Fila is South Korea's largest sportswear manufacturing company, founded in 1911 in Italy. Fila is one of the best known South Korean brands and is among the most popular sportwear brands in the world, headed by chairman and CEO Yoon-Soo Yoon. It now has offices in 11 countries worldwide. Fila was created in Biella, Piedmont, by the Fila brothers in 1911. It originally started by making clothing for the people of the Italian Alps, now manufacturing sportswear for men, women, children and athletes. The company's primary product was originally underwear, before moving into sportswear in the 1970s, initially with the endorsement of tennis player Bj?rn Borg.
The original Italian ownership Holding di Partecipazioni sold the company to US hedge fund Cerberus Capital Management in 2003, after the company over-committed itself to expensive athletic endorsements, at a time when margins were under pressure. Cerberus owned Fila through holding company Sports Brands International, which owned and operated all Fila businesses around the world with the exception of Fila Korea, which was a separate company operating the brand under licence.
In January 2007, the global Fila brand and all its international subsidiaries were acquired by Fila Korea from SBI, which made it the largest South Korean sportswear company. Fila Korea currently holds all of the rights to the worldwide use of footwear and apparel brands of the parent firm.
