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. It is now a company that makes low end quality sportswear apparel and footwear.
The company's primary product was originally underwear, before moving into sportswear in the 1970s, initially with the endorsement of tennis player Björn 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 was acquired by Fila Korea, Ltd. from SBI, becoming South Korea's largest sportswear company. Fila Korea currently holds the rights to the worldwide use of footwear and apparel brands of the parent firm. With a refreshed management team in the United States Fila is poised for a comeback.

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