FOR CHINA’S SPORTWEAR-MAKERS, IT’S DOMESTIC BOOM AND EXPORT DOLDRUMS
June 26th, 2023
China’s sportswear brands have witnessed significant growth in sales during the Covid-19 pandemic, especially on domestic markets where consumers have embraced athleisure trends. Prominent examples include Beijing-based Li-Ning and Jinjiang-based Anta, which reported Chinese Yuan Renminbi-denominated sales growth of 14.3% (1) and 15.5% (2) respectively in 2022.
International brands such as US-based Nike and Canada-based Lululemon also grew sales in China’s 1.4 billion people market during 2022. Nike at its December earnings call (3) said Gen Z demand for ...
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