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361 Degrees

361 Degrees International Limited is a leading sportswear company founded in 2003 and headquartered in , Province, . The company specializes in the research, design, production, and distribution of products, including athletic , apparel, and accessories, with a core focus on categories such as running, , and sports lifestyle. As of December 31, 2024, it employed 7,934 full-time staff in the and reported annual revenue of RMB 10,073,510,000, reflecting a 19.6% year-over-year growth. The company, originally established as a comprehensive sports brand corporation, went public on the in 2009 under the stock code 1361.HK. Key milestones include its global expansion starting in 2014, partnerships as an official supplier for major events such as the and Paralympics, and the 17th . In recent years, 361 Degrees has strengthened its international presence through athlete endorsements, including NBA stars in 2020, in 2022, and in 2023, alongside product launches like the "JOKER 1" basketball shoes in 2024. In 2025, the company opened its first retail store in and became the Global Partner of . For the first half of 2025, revenue reached RMB 5.7 billion, up 11% year-over-year. The brand also emphasizes , introducing technologies such as CQT for eco-friendly, high-performance midsoles. 361 Degrees operates through a network of exclusive distributors, authorized dealers, and retail outlets, with a dedicated children's line (361º Kids) targeting activities like running, , and . Its product portfolio caters to both athletes and everyday consumers, driven by a mission to empower individuals and communities through innovative sporting goods that promote active lifestyles. The company continues to innovate in functionality while expanding into new markets, including a U.S. launch of initiatives like the "Light Up" tour in 2024.

Company Overview

Founding and Headquarters

361 Degrees was established in 2003 in , Province, , as a sportswear company focused on the domestic market. The brand name "361°," symbolizing a full circle of 360 degrees plus one extra degree of excellence, was officially launched in January 2004. The company was founded by members of the Ding family, who had prior experience in the footwear industry dating back to the 1980s through family-run factories in Jinjiang City, . Ding Wuhao, a key figure from the founding family, has served as and since 2008, overseeing strategic direction and operations. His leadership has been instrumental in positioning the brand for growth, building on the family's entrepreneurial roots. Headquartered in Xiamen, Fujian, at the 361° Building in the Huli High-Technology Park, the company maintains its primary operations in the region. From inception, 361 Degrees emphasized a vertically integrated approach, encompassing research and development, design, manufacturing, and sales of sports footwear, apparel, and accessories. The early mission of 361 Degrees was to develop into a globally respected sports brand by delivering high-value, professional products that inspire participation in sports, guided by the slogan "One Degree Beyond." This vision aimed to differentiate the brand from international competitors like Nike and Adidas through innovation and quality in the Chinese market.

Products and Operations

361 Degrees specializes in a diverse of sporting goods, encompassing athletic , apparel, accessories, and related equipment tailored primarily to running, , and segments. The core brand, 361º, emphasizes performance-oriented products such as running shoes featuring cushioning technologies for road and trail use, sneakers designed for agility and support, and apparel blending athletic functionality with . Complementary lines include kids' products focused on running, , , and rope skipping activities, alongside accessories like socks, bags, and protective gear to support active s. The company's operations follow a vertically integrated model, encompassing in-house research and development (R&D), design, production, and sales across its . With dedicated R&D facilities employing 836 technicians, 361 Degrees invested 3.4% of its 2024 in , resulting in 870 patents as of June 30, 2025. For the first half of 2025, R&D expenditure was 2.8% of , with an expected full-year range of 3-4%. Production is primarily based in , utilizing two factories in Jinjiang with 11 to 13 production lines each; around 30.3% of output was handled in-house in 2024, while 69.7% was outsourced to original equipment manufacturers (OEMs) within the region to ensure and efficiency; in the first half of 2025, in-house production was 33.0% for and 19.0% for apparel. This structure supports a reliant on domestic sourcing of raw materials like leathers, polymers, and plastics, enabling seamless integration from conceptualization to market distribution. 361 Degrees maintains an extensive global retail network, combining physical outlets with digital platforms to reach consumers. As of June 30, 2025, the company operates 5,669 authorized stores for the 361º brand in , including mono-brand formats such as tenth-generation stores and 49 Super Premium Stores averaging 156 square meters in size (117 square meters for kids-dedicated stores), alongside 2,494 points-of-sale for the 361º Kids line and 1,357 international outlets, totaling over 9,500 points-of-sale worldwide. channels contribute significantly, accounting for 31.8% of revenue in the first half of 2025 (up from 25.9% in 2024). In January 2025, the company opened its first directly operated store in , . Reflecting its commitment to sports enthusiasm, 361 Degrees adopted the slogan "One Love" in January 2009, symbolizing an extra degree of passion for athletic pursuits and games in daily life.

History

Early Development (2003–2008)

361 Degrees was established in 2003 in Jinjiang, Province, , by the Ding family, building on Ding Jiantong's earlier ventures from the , marking the beginning of its focus on developing a comprehensive encompassing , production, and sales. The company initially built upon earlier family ventures in dating back to the , but the 361° was formally launched in 2004, symbolizing completeness with an extra degree of excellence. Early efforts centered on as the core product line, with initial releases including athletic shoes featuring innovative technologies such as Tech soles for enhanced cushioning and Hold Ground Tech for improved grip, followed by expansions into apparel and accessories by mid-decade. By 2008, the company held six patents in , reflecting its commitment to R&D with a dedicated team of 57 staff and two specialized laboratories. The brand rapidly entered the domestic market, targeting young and frontier consumers aged –25 who were increasingly health-conscious and sports-oriented, particularly in tier 3 and 4 cities where demand for affordable, stylish was rising. Through an exclusive distributorship model adopted in early , 361 Degrees expanded its network across 31 provinces, reaching over 1,000 stores by the end of the year and achieving revenues of RMB 1,317.1 million—a of 123.8% from RMB 262.9 million in . Key milestones included recognition as a " Well-Known " and " Famous Brand" for its , positioning it among the top five domestic brands with a 4.2% and the fastest growth rate in according to industry analyses. This growth was driven by strategic brand promotion, including endorsements from athletes, and investments in product innovation to appeal to youthful, active demographics in both established areas and emerging frontier regions. Despite these advances, 361 Degrees faced significant challenges in building brand recognition against dominant international competitors like and , which held stronger market positions in premium segments. navigated a crowded domestic landscape by emphasizing cost-effective production and distributor reliance for distribution, though this model posed risks in inventory management and . Early investments in narrowing the technological gap with global brands, such as developing lightweight materials and performance-enhancing features, provided a competitive edge, enabling 30% to 45% annual growth from 2004 to 2008 while establishing a foundation as one of China's leading homegrown enterprises.

Public Listing and Expansion (2009–Present)

361 Degrees International Limited went public on the main board of the on June 30, 2009, under stock code 1361. The raised approximately HK$1.8 billion (US$233 million), representing the second-largest IPO in that year, with proceeds allocated primarily toward production facility expansion, , and brand marketing to support broader . This listing provided the capital foundation for the company's post-IPO growth, building on its early domestic success in . Following the IPO, 361 Degrees pursued aggressive , particularly in its network and presence. By 2020, the company operated 5,165 core brand stores and 1,703 points-of-sale for its 361° Kids line in , alongside 953 overseas points-of-sale, reflecting a robust distributorship model managed by authorized dealers. efforts accelerated in 2014 with strengthened market entry strategies, including partnerships and product launches in regions like , , and . A key milestone came in January 2025, when 361 Degrees opened its first directly operated in at AEON Bukit Tinggi Shopping Centre in Klang, , marking a significant step in Southeast Asian and featuring a full range of , apparel, and accessories. This , along with plans to bolster presence in the Americas, , and countries, underscores the company's global outreach. Strategically, 361 Degrees shifted toward digital and sustainable operations to drive long-term growth. became a , with online sales accounting for 25.9% of in 2024, reaching RMB 2,609.4 million amid strong performance in key sales events like "618" and "Double 11." The company diversified into products, expanding beyond performance to include casual apparel, accessories, and active items through dedicated collections that blend functionality with everyday . Sustainability initiatives gained prominence, including recognition as a National Green Factory and Green Enterprise, the introduction of the industry-first "carbon capture" concept in products like the " NUDE" shoes (launched June 2024 with 90% energy rebound), and commitments to and waste reduction. These efforts align with broader goals, earning awards such as the 2024 JING CHAO AWARDS for Leading ESG Enterprise of the Year. By 2023, 361 Degrees had established itself as a leading brand, with over 9,000 points-of-sale worldwide and a clear focus on professional, youthful, and internationalized positioning to fuel ambitions. In 2025, the company reported strong interim results and 10% retail sales growth in the third quarter for its core and kids brands, with 20% growth in , underscoring ongoing momentum in its . This trajectory, supported by ongoing investments in and diversification, positions the company for sustained beyond its core domestic base.

Sponsorships and Partnerships

Olympic and Asian Games Involvement

361 Degrees marked its entry into Olympic sponsorship by serving as the official sporting wear provider for the Chinese men's and women's curling teams at the 2010 Vancouver Winter Olympics. This collaboration introduced the brand's apparel to the international stage, focusing on performance gear tailored for winter sports. The company achieved a milestone in 2016 by becoming the first Chinese sports brand to sponsor the , securing an exclusive deal to supply official uniforms for staff, volunteers, medical personnel, referees, and operational teams at the Summer Olympics and . These uniforms, designed with vibrant colors inspired by and featuring convertible trousers and lightweight fabrics, were unveiled in May 2016 and worn by over 45,000 individuals during the events. This sponsorship outbid global giants like and , highlighting 361 Degrees' growing influence in international sports. In the , 361 Degrees has established itself as a consistent partner, sponsoring the event for five consecutive editions starting from the 2010 Guangzhou Games. It provided official sports apparel for the 2014 Games, the 2018 Jakarta-Palembang Games, and served as the exclusive supplier for the 2022 Asian Games, where it delivered over 100,000 pieces of competition and ceremonial uniforms emphasizing national pride and functionality. The brand extended this commitment to the 2026 Aichi-Nagoya Asian Games as a premier partner. Additionally, 361 Degrees served as the official partner for the 9th in Harbin in February 2025, providing professional sports equipment. These involvements have significantly boosted the company's visibility, positioning it as a key supporter of Chinese and Asian athletics on the global platform.

Athlete and Event Endorsements

361 Degrees has established partnerships with several prominent athletes across various to bolster its brand presence in the domestic market. In , the company endorses athletes such as Li Yiyang, who serves as a for the Flame Series running shoes adapted for basketball training. For running, 361 Degrees collaborates with elite marathon runners including , Li Bo, and Guan Yousheng, who promote the brand's performance footwear during major domestic races. These endorsements often involve national team members, such as the National Rope Skipping Team, where 361 Degrees acts as the official partner, supporting athletes who achieved 20 gold medals, 11 silver medals, 5 bronze medals, and 4 world records in 2023 competitions. To expand internationally, 361 Degrees has partnered with NBA athletes, including Aaron Gordon in 2020, Spencer Dinwiddie in 2022, and Nikola Jokić in 2023. These endorsements include signature shoe lines such as the AG series for Gordon, DVD for Dinwiddie, and the JOKER 1 for Jokić launched in 2024. The company's event sponsorships emphasize domestic leagues, marathons, and youth programs to foster grassroots engagement in China and select international markets. It supports key marathons like the C&D Xiamen Marathon, where 361 Degrees footwear ranked fourth among sub-three-hour finishers in 2023, and the Fuzhou Marathon, providing gear to thousands of participants. In basketball, sponsorships include self-organized events such as the "Light Up" series, which extends to lower-tier cities, and youth initiatives like the 361° Kids Junior Basketball Training Camp and the Hong Kong-Hubei Youth Basketball Invitational. Abroad, the brand backs youth athletics programs, including Jamaica's ISSA Boys and Girls Championships since 2012, supplying apparel to young competitors. In 2024, 361 Degrees became the Official World Aquatics Championships Sportswear supplier for events including Doha 2024 and Singapore 2025, with the partnership strengthened as a Global Partner in July 2025. This endorsement strategy targets young consumers by integrating athlete partnerships with co-branded products and campaigns that highlight performance and appeal. For instance, collaborations with runners lead to specialized lines tested in marathons, while youth-focused sponsorships promote programs to build long-term among emerging athletes. These efforts complement the company's visibility from involvement by emphasizing accessible, community-driven sports initiatives.

Financial Performance

Revenue and Profit Trends

361 Degrees International Limited has demonstrated consistent revenue growth since its on the in June 2009, with annual revenues expanding at an average rate of 16.2% through recent years, driven by expanding in China's sector. By the 2023, the company's total revenue reached RMB 8.423 billion, marking a significant increase from RMB 5.933 billion in 2021 and reflecting robust post-IPO expansion fueled by product diversification and channel development. In 2024, revenue surged 19.6% year-over-year to a record RMB 10.074 billion, surpassing RMB 10 billion for the first time and underscoring the company's strengthening position amid recovering consumer demand. Revenue breakdowns highlight the dominance of core product categories, with and apparel comprising the majority of sales. In 2024, footwear generated RMB 5.386 billion (53.5% of total revenue), up 21.2% from the prior year, while apparel contributed RMB 4.304 billion (42.7%), reflecting a 17.1% increase; accessories and other segments accounted for the remaining 3.8%. Similar proportions held in , where footwear represented 52.8% and apparel 43.6% of the RMB 8.423 billion total, indicating stable category contributions amid overall growth. These trends align with the company's focus on athletic and casual , where footwear has consistently led due to higher volume sales in domestic markets. Profitability has remained steady, with net profit margins holding at 11.4% for both 2023 (RMB 961 million profit) and 2024 (RMB 1.149 billion profit, up 19.5% year-over-year). This stability stems from influences such as strong domestic sales, which comprised 77% of 2024 through networks, and cost efficiencies achieved via balanced in-house production (36.7% of ) and outsourcing, alongside improved inventory management that reduced provisions to RMB 2.139 million in 2024 from RMB 5.893 million in 2023. Gross profit margins also edged up to 41.5% in 2024 from 41.1% in 2023, supported by effective cost controls. Key revenue drivers include expansion in retail outlets and channels. The company operated 5,750 stores in by end-2024, with an average size of 149 square meters and 75.9% located in third- and lower-tier cities to tap underserved markets. sales reached RMB 2.609 billion in 2024 (25.9% of ), growing 12.2% year-over-year through platforms and promotions like the "618" , enhancing omni-channel integration. Sponsorships, such as those tied to events, have indirectly boosted brand visibility and sales in core categories.

Stock Market Presence

361 Degrees International Limited went public on June 30, 2009, through an on the main board of the under the ticker symbol 1361 (SEHK: 1361), raising approximately HK$1.8 billion at an IPO price of HK$3.61 per share. The company's shares are also traded over-the-counter in the United States under the symbol TSIOF. Major shareholders include founder and President Ding Wuhao, who holds approximately 17.03% of the outstanding shares (352,028,332 shares) as of 2025, making him the largest individual stakeholder. Other significant holdings are controlled by family members, such as Ding Huihuang with 15.85% and Ding Huirong with 15.7%, reflecting concentrated insider ownership that has remained stable through 2025. As of November 2025, 361 Degrees' market capitalization stands at approximately HK$12.9 billion, supported by a share price hovering around HK$6.20 amid positive sector momentum in Chinese consumer goods. The company has maintained a consistent dividend policy since its listing, distributing semi-annual payouts with the most recent ex-dividend date on September 10, 2025, at HK$0.204 per share, yielding about 5.17% based on trailing twelve months. In 2025, the stock has shown resilience, posting a year-to-date gain of over 40% driven by robust retail sales growth and e-commerce expansion, though it experienced volatility in response to broader market corrections in Asian equities during mid-year economic uncertainties.

Controversies

Human Rights Allegations

In August 2025, an investigation by The Bureau of Investigative Journalism (TBIJ) and The Guardian revealed that 361 Degrees operates a factory in Fujian province that has employed workers transferred from Xinjiang for at least a decade, as part of China's state-sponsored labor transfer program. This program has been widely documented as facilitating forced labor and contributing to human rights abuses against Uyghurs and other ethnic minorities in the region, including surveillance, restricted movement, and coercive work conditions. Social media posts from Xinjiang-origin workers at the facility were documented as recently as 2024, highlighting ongoing involvement. Further scrutiny arose from 361 Degrees' 2021 agreement with the Cotton Industry Alliance to source raw cotton, yarns, and fabrics from , a region producing over 90% of 's cotton amid international boycotts over forced labor allegations. The partnership was promoted as supporting high-quality, sustainable sourcing, but it occurred against a backdrop of UN reports and U.S. legislation like the , which presume goods from involve forced labor unless proven otherwise. The company has not issued public statements directly addressing these allegations, despite media requests for comment. In its 2023 Environmental, Social, and Governance (ESG) report, 361 Degrees affirms policies prohibiting forced labor in line with Chinese labor laws, including supplier background checks, annual audits of its 1,297 suppliers (92% in ), and compliance with occupational health standards; however, no specific audits or remediation measures for Xinjiang-linked risks are detailed. No violations of labor standards were reported for 2023. These controversies have intensified scrutiny of 361 Degrees' global operations, particularly its NBA sponsorships—such as with player —and involvement in events like , potentially damaging brand trust among international consumers and investors sensitive to issues. The allegations align with broader investigations implicating over 100 brands in Xinjiang supply chain risks, prompting calls for enhanced under frameworks like the U.S. State Department's Xinjiang Supply Chain Business Advisory.

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