Nike hails ‘amazing’ results from China strategy
Nike has described it recent performance in China as amazing, after realigning the business to concentrate on sportswear, running, Jordan and Nike basketball.
Revenues grew 27% during the third quarter, and revenues during Chinese New Year “surpassed anything seen before”, driven by strong sales at partners Bai Li and Pou Sheng.
Andy Campion, Nike’s chief financial officer, said: “I was just in China three weeks ago, and I can sum up my visit in one word: amazing. Our brand and business in China have never been stronger. And we continue to build momentum. That’s not by accident.
“Our focus in China has been on fueling greater sport participation and love for sport, while also transforming the consumer experience along category lines both in store and online. We are now seeing increasingly deeper passion for sport in China and that is translating into strong demand for our products.”
He said the team in China has created some of the most compelling retail experiences in the world.
“We see tremendous opportunity ahead in China and we will continue investing to sustain our strong momentum in this important geography.”
Image: Nike shop in China
