Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
German sporting goods company Adidas is experiencing no slowdown in China, German daily Frankfurter Allgemeine Zeitung (FAZ) quoted its Chief Executive Herbert Hainer as saying upon his return from a trip to the Asian country.
Global markets plunged earlier this week as a slump in Shanghai shares fuelled worries over China's economic health and the potential effects on companies that have come to rely on the country as a major export market.
Adidas CEO Herbert Hainer, however, told FAZ that his company is proving resilient in the face of the economic downturn.
"We are not feeling any crisis in China," the paper quoted him as saying in an article published on Thursday.
Hainer said that shoppers in China are more likely to hold off buying big-ticket items such as cars than consumer goods that cost only $100.
"Sporting goods will remain in fashion (in China) and are in strong demand," Hainer said, "not least because the Adidas brand is a status symbol."
The company's sport-inspired fashion is popular in China, but it is at a disadvantage to Nike in the country because soccer -- the sport in which it has its roots -- is far less popular there than basketball, which its larger rival dominates.
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024 16:14
Related coverage
02 Nov 2015
Trilateral co-operation in Arxan’s outdoor industry
24 May 2016
Adidas tops favorite retail brands in China
29 Jan 2015
Schalke 04 to open offices in China and US
26 Jan 2016
Warriors to honour Chinese fans with special uniforms
21 Jan 2016
More from Yutang Sports
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Yutang Sports
loading...