Fila was created in Biella, Italy, by the Fila brothers in 1909. It originally started by making clothing for the people of the Italian Alps, now manufacturing sportswear for men, women, kids and athletes. 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 brand got more popular after moving into sportswear. The original Italian ownership shop Holding di Participazioni 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 license.

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 brand got more popular after moving into sportswear. Fila Korea currently holds all of the rights to the worldwide use of footwear and clothing brands of the parent firm.