When will domestic sports goods truly stand up?
2021-04-09
Riding on the success of the 2008 Beijing Olympics, Chinese sports brands entered a golden period from 2007 to 2010. During those few short years, the unstoppable enthusiasm of consumers for sports, along with commercial sponsorship, advertising marketing, and listings on the Hong Kong stock market, led to the unstoppable development of many sports brands.
Under the halo of athlete Li Ning lighting the Olympic flame, the sports brand Li Ning became a beneficiary. In 2009, Li Ning's revenue surpassed Adidas, jumping to the second place in the Chinese sports goods market, closely chasing Nike.
However, after experiencing blind expansion and "extensive" development, the entire industry began to show the problem of product homogeneity due to a lack of focus on brand positioning and product characteristics.
Domestic sports brands represented by Li Ning, Anta, and Xtep frequently fell into a vicious cycle of declining profits, store closures, and high inventory rates.
In just the first half of 2012, Li Ning closed 1,200 inefficient stores. It wasn't just Li Ning that was shrinking the market; Peak closed over 1,000 stores, and Anta Sports also reduced 110 stores.
It was also against this backdrop that many sports brands familiar to those born in the 80s and 90s reached a turning point, with some declining and disappearing, while others reformed and transformed to return to the track.
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When will domestic sports goods truly stand up?
Riding on the success of the 2008 Beijing Olympics, Chinese sports brands entered a golden period from 2007 to 2010.
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Sanmen Jianlong Sports Goods Co., Ltd.
Zhejiang Province is a large-scale joint-stock enterprise that produces sports balls, mainly producing and selling high-and mid-range basketball, football, volleyball, and gas volleyball products.
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94 Qimen Street, Shaliu Street, Sanmen County, Taizhou City, Zhejiang Province