世界杯球衣全球同步发布 2026年世界杯，这场有史以来规模最大的世界杯，悄然进入倒计时。官方比赛用"三重浪"（TRIONDA）已于今年10月3日 发布。此次进博会现场，阿迪达斯不仅将带来官方比赛用球的实物，还打造了巨型装置，与观众分享足球与世界杯的喜悦。 本报讯 （记者梁傲男）世界杯球衣中国首秀，打造世界杯官方比赛用球的巨型装置，分享ADIZERO 0系列科技盛宴、集 中展示上海创意中心（CCS）20年创意硕果……在这场一期一会的盛大舞台上，"要100%本土共鸣"的阿迪达斯，要在体育赛 事、科技创新、本土文化创造上再掀三重浪潮。 在进博会现场，阿迪达斯将全球同步发布世界杯球衣，多支球队的主场球衣将在中国首秀。 11月5日至10日，第八届中国国际进口博览会（下称"进博会"）即将召开，阿迪达斯将亮相体育户外专区。此次，阿迪达 斯将以"三条纹能量 聚力在中国"为主题，通过足球、跑步、文化共创三大展区与一个体验区，全面展示阿迪达斯运动科技创新 成果，以及"在中国，为中国"的最新进展。 对于足球，中国球迷无疑有着深沉的爱。以足球为品牌核心基因的阿迪达斯，深知培养青年人才是推动足球事业发展的关 键。今年夏天，阿迪达斯赞助 ...

如果用一个词概括阿迪达斯与中国市场的关系，"双向奔赴"或许最贴切。 最近古尔登的第四次访华行程，将这种"双向"推向新高度： 这份双向奔赴背后，是扎实的增长曲线在支撑。 2025年10月12日，阿迪达斯全球首席执行官(CEO)比约恩·古尔登(Bjoern Gulden)连续两年出席上海 市咨会。继去年作为特邀嘉宾参与会议后，今年是首次以正式会员的身份参加；除了参加上海市咨会， 古尔登还在北京拜访了国家体育总局局长、中国奥委会主席高志丹。 短短三日，这位掌舵全球运动巨头的舵手行程贯穿京沪，用连续三年四次的访华记录、横跨政商两 界的深度对话，向世界传递着一个清晰信号：中国，始终是阿迪达斯战略棋盘上那枚最关键的落子。 10月16日，2026春夏上海时装周收官日，阿迪达斯在上海老市府大楼创意呈现「POWER OF THREE」系列活动，为中国消费者带来一场"诞生于赛场，闪耀于秀场，风靡于街头"的独特时尚大 秀。随着百套由本土团队打造的创意产品亮相大秀舞台，其所传递品牌与本土创意共生的信念，也愈发 深刻。 因为这意味着一个品牌，不仅要更敏锐地捕捉中国市场潮流，还需要展现品牌的独特风格。这 种"快速响应+原创表达+品质保证 ...

阿迪达斯，又翻车了。 前不久有消费者在社媒平台吐槽自己通过官方渠道购买的阿迪达斯羽绒服，实际是由雪中飞代工生产。同类型产品配置更低，甚至价格还要比雪中飞贵上 不少，被质疑品牌溢价过高。 客观来说，在这个全球消费市场分工进一步细分的背景下，阿迪达斯的做法在业内早已屡见不鲜。关键问题在于此举违反了大众消费者的普遍"常识"，进 而引发广泛舆论风波。 屋漏偏逢连夜雨，就在阿迪达斯深陷代工风波之际，还有消费者在阿迪达斯线下门店所购买的鞋子还没穿就已经脱胶，要求退货时被店员质疑是人为因素 导致。如今在黑猫投诉平台上，有关阿迪达斯的投诉量已经超过25000条，大多集中在质量问题和服务态度差等。 令外界颇为意外的是，虽然阿迪达斯遭到广大消费者的吐槽，但自身营收表现仍然相当亮眼。根据刚刚发布的三季报来看，全球市场营收66亿欧元，同比 增长3%；营业利润7.36亿欧元，同比增长23%。其中大中华区的三季度营收9.47亿欧元，同比增长10%，截止到目前已经实现连续10个季度的增长。 不可否认，阿迪达斯自"新疆棉"事件后，在国内市场已经走出了焕发第二春的步伐。只是这并不意味着未来就能一片坦途，毕竟在国内运动鞋服市场以安 踏李宁为代表 ...

按产品线来看，鞋类收入同比增长11%至37.5亿欧元，其中以ADIZERO 0系列为代表的跑步业务，收入 同比增长超过30%；服饰业务收入增长16%至23.8亿欧元，配饰业务增长1%。品牌表示，体育营销集中 回归专业场景，通过赞助马拉松赛事、签约中国运动员，品牌在跑步、足球等垂直领域重建专业口碑。 其中Adios Pro Evo 2和Adios Pro 4在多项马拉松赛事中斩获佳绩，助力ADIZERO系列跑鞋全球销量增 长，成为中国市场跑步爱好者的新宠。 按地区来看，欧洲市场销售额增长12%至23.3亿欧元，北美市场增长8%至13亿欧元，大中华区实现10% 增长，日本与韩国同比增长11%。 据南都此前报道，阿迪达斯在上半年财报中警告称，美国上调对越 南和印尼商品的关税将导致下半年成本增加约2亿欧元。阿迪达斯首席执行官古尔登表示，公司在第二 季度已受到数千万欧元的关税影响，一旦关税最终敲定，公司将重新评估定价，并决定哪些产品可能在 美国提价，但其他市场的价格不会受到影响。 大中华区业绩连续十个季度实现"有质量的增长"，连续四个季度双位数增长。今年前三季度，阿迪达斯 品牌全球营收达187.35亿欧元，同比增长14 ...

Core Insights - The discussion around the pricing of international brands like Adidas and Nike has intensified, particularly regarding their reliance on Chinese manufacturers like Xuezhongfei, which has led to questions about brand value and consumer perception [1][2]. Group 1: Brand Perception and Consumer Behavior - Consumers are increasingly skeptical of brand premiums and are focusing on the actual value and quality of products, comparing specifications and prices rather than simply relying on brand names [2][9]. - The shift in consumer behavior indicates a preference for products that align with personal values, such as sustainability, rather than just brand prestige [9][18]. - The traditional brand premium model is being challenged as consumers demand transparency and justification for higher prices [7][9]. Group 2: Evolution of Chinese Manufacturing - Chinese manufacturers like Xuezhongfei and Shenzhou International are evolving from mere subcontractors to strategic partners with international brands, showcasing their manufacturing capabilities and quality standards [5][18]. - The Chinese apparel industry has developed a comprehensive and specialized supply chain that is difficult to replicate, maintaining its competitive edge despite some production moving to Southeast Asia [16][18]. - The transformation of Chinese manufacturing is marked by a shift from low-end processing to high-end manufacturing, with a focus on quality, efficiency, and innovation [18]. Group 3: Financial Performance and Market Dynamics - Xuezhongfei, under Bosideng, reported a 26.4% year-on-year increase in its OEM business revenue, indicating a growing market presence and recognition of its manufacturing capabilities [10]. - The financial performance of Bosideng's OEM business highlights the increasing importance of manufacturing partnerships in driving revenue growth [10][12]. - The concentration of major clients poses risks for manufacturers, emphasizing the need for diversification in client relationships to mitigate potential revenue losses [12][18].

Core Insights - The controversy surrounding Adidas's down jackets being produced by the OEM Snow Flying has highlighted the brand's reliance on outsourcing production to third-party manufacturers, allowing it to focus on high-value activities like design and marketing [3][6][9] Group 1: Outsourcing and Production Strategy - Adidas has almost entirely outsourced its production, with very few products manufactured in-house, primarily high-end items produced in Germany [6][9] - The company has historically closed its own factories in China, relying on a network of OEMs concentrated in regions like Guangdong and Fujian for manufacturing [6][7] - The global production strategy includes expanding capacity in countries like Vietnam and Indonesia to optimize costs and mitigate risks [7][9] Group 2: Market Dynamics and Consumer Sentiment - The price difference between Adidas and Snow Flying products has led consumers to question the value of purchasing branded items when cheaper alternatives are available [4][9] - There is a growing consumer awareness regarding the origins of products, with many now scrutinizing manufacturing labels for transparency [19] Group 3: Financial Performance and Business Model - The outsourcing model has allowed Adidas to operate with a lighter asset base, significantly reducing fixed asset investments and risks [14] - In 2024, Adidas's revenue in Greater China grew by 10%, with a gross margin of 51.7% in Q2 2025, showcasing the financial benefits of the light asset model compared to traditional heavy asset models [14][15] Group 4: Challenges and Quality Control - The shift to outsourcing has raised concerns about quality control, with reports of product defects linked to manufacturing in regions like Vietnam and Cambodia [15][17] - The relationship between brands and OEMs is complex, balancing the need for production capacity with the risk of OEMs producing competing products [17]

以下文章来源于财经天下WEEKLY ，作者财经天下 财经天下WEEKLY . 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 代工生产，赚得更多。 文 ｜ 易浠 编辑 ｜ 吴跃 来源｜ 财经天下WEELY（ID：cjtxweekly） 封面来源 ｜ unsplash 近日买阿迪达斯的消费者纷纷在网上留言吐槽称，自己的天塌了，没想到，花重金买的羽绒服，居然是由雪中飞代工的，这直接将阿迪达斯送上了热搜。事 实上，经过多年发展，像阿迪达斯这样的大品牌，早已将生产环节外包给代工厂，自身则专注于设计、研发和营销等高附加值环节，这样能获取更多的利 润。 生产几乎全靠代工厂 "我直接买雪中飞就好，何苦让中间商赚差价？"几天前，在看到阿迪达斯羽绒服是雪中飞代工的热搜后，北京一名消费者吐槽称。 这样的感叹并非没来由。《财经天下》注意到，在同一电商平台上，一款阿迪达斯长款羽绒服券后价867.71元，含绒量70%。与之对比，雪中飞一款明星同 款的长款羽绒服，含绒量85%，只卖569元，一件便宜了近300元。 两家官方旗舰店产品截图 10月21日，在舆论持续发酵后，阿迪达斯官方客服回复称，雪中飞 ...

以下文章来源于源Sight ，作者源Sight 源Sight . 源Sight，关注互联网前沿生态和新兴商业。 这是新消费智库第 2 7 0 2 期文章 作者 ：安然 编辑：竺天 审核： Single 来源：源Sigh t 近日，有消费者在社媒平台爆料称，其在阿迪达斯购买的羽绒服实为雪中飞代工产品；经对比，该款阿迪羽绒服绒子含量 80% 、蓬松度 600+ ，而雪中飞相似款羽绒服绒子含量达 90% 、蓬松度 680+ ，价格还低 60 元。此事引起大众对阿迪等大牌溢价产品的广泛议论。 然而一波未平一波又起。据都市现场报道，日前有消费者在南昌万象城购买了阿迪的 "零系列"千元跑鞋，但未走出商场，鞋子就出现脱胶问 题；要求退货后，顾客还反遭店长嘲讽。这也让大众对阿迪的产品质量和售后服务产生质疑。 新消费导读 原本喜气盈门的阿迪达斯，突逢多事之秋。 针对相关代工生产以及产品质量与售后服务争议，源 Sight 向阿迪达斯方面取得联系，截至发稿对方尚未回应。 风口浪尖之上，阿迪刚发布最新财季初步数据。今年第三季度，阿迪全球营收同比增长 12% 至 66.3 亿欧元，创下有史以来单季度最高营 收纪录；营业利润同比增超 2 ...

"大中华区业绩'十连增'，源于我们践行'在中国，为中国'战略，在品牌热度、产品、渠道均实现突 破。"阿迪达斯大中华区董事总经理萧家乐表示，"未来，我们将继续深度洞察本土运动与时尚需求，连 接更多年轻人，更好融入中国市场。" 中经记者 李媛 北京报道 德国运动品牌阿迪达斯交出历史最佳季度成绩单。10月29日，公司发布的2025年第三季度财报显示，阿 迪达斯品牌全球营收达66亿欧元，同比增长12%（货币中性），创单季营收最高纪录，营业利润同比增 长23%至7.36亿欧元。鞋类、服饰业务均保持强劲增长，跑步产品线表现亮眼。大中华区成为增长支柱 之一，连续四个季度实现双位数增长。业内分析认为，阿迪达斯正在完成"回归运动本质+强化本土文 化链接+零售效率修复"的战略闭环，行业竞争正进入全新的"专业细分与供给结构优化"阶段。 财报显示，今年第三季度，阿迪达斯整体"全市场、全品类、全渠道"实现双位数增长。鞋类收入同比增 长11%，其中以ADIZERO 0系列为代表的跑步业务收入同比增长超30%；服饰业务收入增长16%。 阿迪达斯全球CEO古尔登表示："阿迪达斯品牌12%的增长推动总营收达到66.3亿欧元，创下了有史以 来单 ...

Core Insights - lululemon athletica inc. (LULU) is experiencing significant growth in China, which is central to its international expansion strategy [1][5] - The company aims to reach 200 stores in China under its Power of Three x2 strategy, focusing on guest engagement and digital presence [2][10] - In Q2 of fiscal 2025, revenues in China rose by 25%, with comparable sales increasing by 16% despite macroeconomic challenges [3][10] Expansion Strategy - lululemon plans to open new stores in China, enhancing brand visibility through community engagement and targeted marketing [1][5] - The company is leveraging digital platforms like Tmall, WeChat, and Douyin to broaden consumer engagement [2][10] U.S. Market Challenges - The U.S. business is facing challenges due to reliance on a few core franchises, leading to a soft guest response [4] - lululemon is working on reaccelerating growth in the U.S. by improving its go-to-market process and product assortment [4] Competitive Landscape - Key competitors in China include NIKE and adidas, both of which are also focusing on expanding their presence and consumer engagement in the region [6][7][8] Financial Performance - lululemon's shares have declined by 56.1% year-to-date, compared to an 18.1% decline in the industry [11] - The company trades at a forward price-to-earnings ratio of 13.09X, below the industry average of 16.13X [12] - The Zacks Consensus Estimate indicates an 11.8% year-over-year drop in earnings for fiscal 2025, with a slight growth of 1.1% expected in fiscal 2026 [13]