Chinese sportswear brands post positive growth in Q1 as Western brands continue to lose market share
Published: Apr 20, 2022 12:07 PM
Li Ning Photo:VCG

Li Ning Photo:VCG

Chinese domestic sports brand Li-Ning posted a nearly 30 percent year-on-year increase in retail sell-through in the first quarter of 2022, the company said on Monday. 

Li-Ning registered overall positive growth in the first quarter for the sales of same stores as well as retail sell-through, the company said in an announcement issued on the Hong Kong Stock Exchange on Monday.

The same-store-sales for the overall platform registered a more than 20 percent increase on a yearly basis, while the retail sell-through of the brand excluding its Li-Ning Young segment increased close to 30 percent. 

The company's retail sell-through in the first quarter of 2020 decreased by nearly 20 percent affected by the COVID-19 epidemic. The figure rebounded to a nearly 90 percent growth in 2021.

Another leading domestic sports brand Anta Sports also recorded a nearly 20 percent  increase in its retail sales performance for the quarter, while the company's other branded products posted growth of 40-45 percent, the company said in an official announcement on April 14. 

Fellow domestic brand, 361 Degrees also posted a nearly 20 percent year-on-year growth for its retail sales performance in the first quarter of the year, while the overall retail sales of its e-commerce products grew approximately 50 percent compared with 2021 figures. 

Western sports brands have continued to lose market share in the face of the rapid rise of Chinese sportswear brands. 

For instance, Nike saw a 19 percent year-on-year decrease in its quarterly earnings in Greater China ended in February 28, the company said in March. 

Global Times