The growing popularity of running and jogging has been a boon for public health. And now it’s also giving sportswear makers something to cheer about.
2015 was a banner year for some of the biggest Chinese brands. For the first half of last year, Anta Sports and Li Ning’s revenue surged 24 and 16 percent respectively.
Profit for smaller sportswear firms like Xtep and Peak Sport soared 21 and 45 percent as well. Global brands like Adidas and Nike are also expanding in the Chinese mainland for a bigger piece of the profit pie.
Adidas is planning to open more than 8,000 stores in the next few years.
For more, CCTV America’s Rachelle Akuffo spoke to Andre Richelieu, a sports marketing expert and professor at the School of Management in Montreal. Hes’s also the co-Author of the book Sports Marketing.