In China’s sporting goods market, sales of local mass-market brands Li Ning and Anta are slowing, leading to a sharp decrease in stock market valuations.
As consumer spending slows in China, retailers are reviewing strategies. During the Q3 2023 financial results, Adidas noted a plan to offer cheaper shoes to Chinese consumers. “If we want to achieve real volume, I think we have to go downgrade our offer, and offer real performance shoes priced under US$100,” said CEO Bjorn Gulden. That’s...
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