View of a sportswear store of Anta in Yichang city, central China's Hubei province, 18 October 2015.[Photo/IC]

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.

Anta will be an official sponsor of the Rio de Janeiro Olympic Games to be held in August. It will provide uniforms and equipment for 10 Chinese national teams－gymnastics, trampoline, weightlifting, wrestling, judo, boxing, taekwondo, rowing, canoeing and water polo.

"In China, Anta's products for basketball, running, and comprehensive training categories now take the No 1 market share in terms of revenues among local brands," said Zheng Jie, executive director at Anta.

Anta's sales revenues surpassed the total amounts of some domestic sportswear makers, including Li Ning Co Ltd, Xtep International Holdings Ltd, 361 Degrees and Peak Sports Products Co Ltd.

By 2025, Anta plans to become a leading sportswear maker with annual revenues of more than 100 billion yuan. Currently, Nike and Adidas AG are the only companies that have reached this level. For high-end products, the two giants still have significant advantages over the others in major cities.

Anta positions itself as an affordable brand. A pair of basketball sneakers co-branded by Anta and NBA sell at 399 yuan or 499 yuan, whereas a similar pair of shoes from adidas or Nike cost more than 1,000 yuan.