Adidas’ sales in China fell 27% in the quarter to the end of September. (here: a sports brand store in Shanghai). ZHOU JUNXIANG/Imaginechina via AFP
Adidas, Nike, H&M and Zara are competing with much more nimble Chinese brands.
Dressed in the colors of China, from head to toe. After topping sales for years in the Middle Kingdom, major Western ready-to-wear brands are being upstaged by Chinese brands. Cut off from the world for three years due to Covid, Chinese consumers are playing up the national preference, reeling giants like Nike, Adidas, H&M or Inditex (Zara, Massimo Dutti…). Carried over by younger generations, the phenomenon has a name: “Guochao”, a new idea of ”made in China”, a mix of contemporary design and references to Chinese culture in the consumer goods industry.
In the first half of 2022, Anta Sports dethroned the two Americans Adidas and Nike in the Middle Kingdom, thanks to a turnover of 3.8 billion dollars. The Chinese giant is no longer synonymous with low-end products. The official supplier of the International Olympic Committee (IOC) of the Beijing Games in 2022, today is…
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