Chinese shoe maker Anta Sports Products Ltd has already outpaced Nike in terms of shoe sales in the mainland. 

Based on its earnings report, Anta posted net revenues of more than 10 billion yuan ($15.4 billion), which showed a 24.7 percent year-on-year increase, China Daily reported.

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The leading Chinese shoe manufacturer has already sold 40 million pairs of sneakers across the country, enabling it to surpass the sales of its fierce US based rival Nike.

According to company officials, Anta is the first Chinese sportswear brand to reach such a threshold in terms of sales.

The Chinese shoe maker likewise surpassed the sales of its domestic rivals, which included Li Ning Co Ltd, Xtep International Holdings Ltd, 361 Degrees and Peak Sports Products Co Ltd.

Anta's impressive sales performance signals a major boom in the domestic market.

In a move to strengthen its presence in international markets, the company will be one of the official sponsors of the Rio de Janeiro Olympic Games scheduled in August.

Anta has committed to the provide the uniforms and equipment of the 10 Chinese national teams that will be participating in the games - 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," shared Zheng Jie, Anta's executive director.

Buoyed by its domestic success, the Chinese shoe maker aims to become a leading sportswear brand worldwide with projected annual revenues of more than 100 billion yuan by 2025.

To date, Nike and Adidas AG are the only international companies that have achieved profits of this scale.

Anta recognizes that that for other high-end athletic products, the two companies still hold a significant advantage over its rivals in major cities.

This is the reason why Anta positions itself as an affordable brand.

For instance, a pair of basketball sneakers co-branded by Anta and NBA sell at 399 yuan or 499 yuan, as compared to a similar pair of shoes made by Adidas or Nike which costs more than 1,000 yuan.

With this strategy, the Chinese shoe maker is expected to capture an bigger slice of the domestic and international market. 

TagsChinese Shoe Maker, ANTA, Nike