Fila was founded in 1911 by the Fila brothers in the town of Biella, to produce clothing for the local population. Before Fila switched to sportswear in the 1970s, the main product was underwear.
The original owner, Holding di Partecipazioni, sold Fila in 2003 to hedge fund Cerberus Capital Management. The reason for this was that the manufacturer was in financial trouble. Cerberus immediately transferred the company to one of its "Sports Brands International" holding companies. The only thing that did not come into the hands of Cerberus was Fila Korea, which was an independent company that sold Fila products under license. In 2007, Fila Korea purchased the international Fila for 400 million US dollars, making it the largest South Korean sportswear brand in one fell swoop.