Nike to Consolidate Online Sales into Official Channels Amid China Market Slump

Corporate Action
โดย Reuters·Read original
Summary · why it matters

US sportswear giant Nike has announced plans to halt online sales of its products by major retailers starting January next year, directing consumers to its official channels as a countermeasure to sluggish sales in the Chinese market. Greater China Vice President and General Manager Cathy Sparks told Reuters that by restricting wholesalers' online sales and consolidating them into brand digital stores on Tmall, JD.com, and Douyin, as well as its official website and app, the company aims to restore brand value and reduce reliance on discounting. China is Nike's third-largest market globally, but Greater China revenue in the fourth quarter fell 17 percent year-on-year on a currency-neutral basis, continuing a downturn amid intensifying competition from domestic brands such as Anta Sports and Li-Ning. The move is part of CEO Elliott Hill's turnaround strategy, with most of the 16 sales partners operating Nike stores in China expected to cease online sales.

Impact on stocks 4

Consumer Discretionary± Mixed · 4 stocks
Nike Inc
NKE
▲ PositiveDemandrelevance

Nike consolidates online sales to official channels to restore brand value and reduce discounting, aiming to boost demand.

ANTA Sports Products Ltd
2020
▲ PositiveCompetitionrelevance

Nike's struggles in China and shift away from wholesale may benefit Anta as a domestic competitor gaining market share.

Li Ning Co Ltd
2331
▲ PositiveCompetitionrelevance

Li-Ning, as a domestic rival, could gain from Nike's downturn and reduced wholesale presence in China.

Jd Com Inc
9618
▼ NegativeDemandrelevance

Nike's consolidation away from third-party platforms may reduce sales volume on JD.com, a key e-commerce partner.

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