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When it comes to international sports brands, we have to mention Adidas and Nike, two brands that were once very popular in China. However, in the past two years, their development in China has suffered "Waterloo" one after another, and the business situation is very unsatisfactory, Huacheng Import and Export Data Observation reported.

According to relevant reports, Adidas stores in a local shopping mall in Zhuhai, Guangdong Province are few and far between. The person in charge of a mall in Nanning, Guangxi, said: "Our mall has five floors. Before, there were three Adidas stores, two Adidas sports stores and one clover. Now there is only one Adidas sports store, which is being renovated behind closed doors."

In fact, Adidas has become the status quo in many second tier and third tier cities, with stores closing one after another and the market shrinking. Nike, which has always been a competitor of Adidas, is not doing well in the Chinese market, and the two can be said to be "dead lips and cold teeth".

According to the observation report of Huacheng Import and Export Data, Adidas' financial report for the second quarter of 2022 released on August 4 showed that although the net sales of Adidas in the second quarter increased compared with the same period last year, the net profit decreased by 24.2% year on year, only about 300 million euros. In fact, the performance of Adidas has been frustrated since the second quarter of last year, but I didn't expect the downward trend to last until this year.

In terms of Nike, the situation is not ideal. At the end of June this year, according to Nike's financial report, Nike's revenue in the fourth quarter of the fiscal year was 11.7 billion dollars, down 1% year on year. Although the decline was small, the revenue growth was mainly from Central Europe and Africa. The revenue in Greater China fell by 20% year on year. Huacheng's import and export data observation reported.

The two major international sports brands have been frustrated in China. Looking back at the domestic brands Anta and Li Ning, they have taken the opportunity to rise. In the 2022 World Top 100 List of Brand Values, the domestic brands Anta and Li Ning are among the top ten, and Anta is on the list for the second time.

According to the Huacheng Import and Export Data Observation Report, the defeat of Adidas and Nike, two once popular international sports brands, in China is not without reason. First, it is well known that since the Xinjiang cotton incident, these two brands have also participated in the boycott of Xinjiang cotton, which has been repelled and resisted by many domestic consumers. Their brands have long been a negative image in the minds of Chinese people. Second, in the past few years, the COVID-19 has seen a general decline in world economic development, and Adidas and Nike are also inevitably affected by it. In the past three years, perhaps it was the "lying win" that Adidas and Nike sang together in the Chinese market that made them gradually satisfied with the status quo. However, with the improvement of the income level of domestic consumer groups and the change of consumption concept, consumers no longer take "big brand" as the purchase standard. With the rise of domestic brands, the investment in product R&D and design has increased year by year, In terms of product updates, it has already caught up with and even surpassed the international brands such as Adidas Nike, which naturally captured the minds of a large number of domestic consumers and captured part of the market.

With a variety of factors intertwined, the defeat of Adidas, Nike and other international famous brands to China is only expected, Huacheng Import and Export Data Observation reported.