Sales 5 consecutive!Adidas CEO acknowledged a mistake in China, but "the Chinese market will return"

On August 10, the topic#Adidas CEO acknowledged that he had made mistakes in China#boarding on Weibo, which caused heated discussion among netizens.

According to the Sino -Singapore Jingwei report, Adidas CEO Rosde recently believes that the revenue of Adidas in the first quarter of Greater China fell by 35%, which was mainly affected by the new crown epidemic, and Adidas himself "made a mistake." But he believes that the Chinese market will return and have a lot of room for growth.

It is worth noting that in the past six months, the capital market has obvious confidence in Adidas, and Adidas' stock price has fallen by nearly 44%. On June 13, 2022, the US stock market closed, Adidas's market value was US $ 33.814 billion, which was surpassed by Lululemon, and the second place in the global sports apparel brand was lost.

Adidas CEO: I made a mistake in China

According to interface news reports, on August 10, 2022, Beijing time, Adidas CEO Kasper Rorsheng accepted an exclusive interview with the German Business Daily. In the interview, Rosde acknowledged that Adidas' revenue in Greater China fell 35%in the first quarter. In addition to being influenced by the new crown epidemic, Adidas himself also "made a mistake."

Luo Side said: "We don't know enough about consumers, so we leave room for those Chinese competitors who have done better."

However, in the interview, Luo Side said that he still believed in the future growth space of the Chinese market.

On the other hand, Luo Side also proposed the possibility of sales in the Chinese market in the short term. He said: "If the response of the Chinese market is not as good as expected, it may destroy Adidas' revenue target by 2025. If the original assumptions permanently change, we will also have to adjust our goals."

Public information shows that the revenue of Adidas Greater China has fallen for five consecutive quarters, and this year has fallen by 35%for two consecutive quarters.

Specifically, from the second quarter to the fourth quarter of fiscal year, the sales of Adidas Greater China were 1.03 billion euros, 1.155 billion euros, and 1.037 billion euros, respectively, a year -on -year decrease of 15.9%, 14.6%, and 24.3%. In the first quarter of 2022, while sales increased by 0.6%to 5.302 billion euros, sales of Greater China fell 34.6%year -on -year to 1.04 billion euros; in the second quarter, the company's sales increased by 4%at an unchanged exchange rate, reaching 5.6 billion yuan The euro, the revenue of Greater China decreased by 35%.

Adidas predicts that the growth rate of North America and Latin America will be faster. Considering that the views on consumer expenditure in the next few months are more conservative, markets outside China may also slow demand.

Picture source: take by reporter Zhang Yun every time

Rise of domestic goods

Gen Z's recognition of domestic goods is higher

Not only Adidas, but Nike's performance in China is also challenging.

On June 27, local time, Nike announced its fourth quarter and annual financial report of the fiscal year and annual financial report as of May 31 this year, showing that Nike's annual revenue reached 46.7 billion U.S. dollars, an increase of 5%year -on -year, and removing changes in exchange rate changes. It has an increase of 6%year -on -year. It is worth noting that the performance of the Greater China in the fourth quarter has accelerated the decline, achieving revenue of $ 1.561 billion, a year -on -year decrease of 19%. The annual revenue of Greater China was US $ 7.547 billion, a year -on -year decrease of 9%, and the impact of exchange rate changes fell 13%.

According to China Economic Weekly, public opinion believes that the reason why Nike and Adidas are not fragrant is because international sports brands such as Nike will face more intense market competition in the Chinese market in the future. The good days of the pot have been gone.

According to the daily economic news report, in mid -June, Brandz's global brand value list was released in 2022, Anta and Li Ning ranked TOP10. Judging from the ranking of the Brandz clothing list in 2022, Anta and Li Ning ranked 8th and 9th, with brand value of US $ 3.772 billion and US $ 3.767 billion. The brand value increased by 86%year -on -year, and the brand value increased significantly.

In the competition with international big names in recent years, the pragmatic and innovative domestic goods in the consumer goods industry have gradually become the primary choice for consumers, and the recognition of "domestic goods" has risen rapidly. According to IPSOS data, under the global perspective, 71%of consumers believe that Chinese brands are very important. 69%of consumers believe that the development of Chinese brands in the future is expected. More and more traditional domestic products are being loved by consumers. And set off a trend of domestic goods among young groups.

At present, generations Z have gradually become the main consumer power of the present. Young people who have grown up in China's comprehensive national strength and international status have continued to improve their age. The national pride is stronger, the recognition of domestic goods is higher, and most of them have not experienced the early influence of local brand development.The more weak stage.Generation Z pays attention to the product itself. Therefore, the "prejudice" of young consumers on local brands will be less than 80/90. Excellent domestic brand and "Chinese creation" will become one of the important sources of national pride.In terms of purchasing decisions, generations Z were greatly affected by the Internet media platform. They were willing to accept KOL and acquaintances. Local sports shoes and clothing brands are good at new media marketing and strengthened their influence in young user groups.Edit | He Xiaotao Dubo

School pair | Duan Lian

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