Brands Bottega Veneta COPENHAGEN, DENMARK - JUNE 08: Bartolomeo Rongone speaks during the panel talk ‘True Luxury: A Product Designed to Last Forever’ during Day Two of the Global Fashion Summit: Copenhagen Edition 2022 at Royal Opera House on June 08, 2022 in Copenhagen, Denmark. (Photo by Lars Ronbog/Getty Images for Copenhagen Fashion Summit) Luxury conglomerate Kering announced that Bartolomeo Rongone, chief executive officer of Bottega Veneta, will be leaving the group, effective March 31, to pursu ...

Core Viewpoint - Nike has announced a significant leadership change in its Greater China region, appointing Cathy Sparks as the new Vice President and General Manager, replacing Angela Dong, who will leave the company on March 31 [1][3][12]. Group 1: Leadership Change - Angela Dong has been leading Nike's Greater China operations for many years and will be succeeded by Cathy Sparks, a veteran with 25 years of experience at Nike [1][3]. - The leadership change is seen as a direct response to the need for "faster action" in the face of declining revenues and profits in the Greater China market, where revenue fell by 17% year-on-year and EBIT dropped by 49% in the latest financial report [3][12]. Group 2: Cathy Sparks' Background - Cathy Sparks has a long history within Nike, starting as a visual merchandising specialist in a Nike Town store in Portland in 1996 and gradually rising through various roles, including Retail Director for Asia Pacific and Latin America [4][5]. - Her experience includes significant roles in shaping Nike's global retail strategy and managing complex markets, which positions her well for the challenges in the Greater China region [5][10]. Group 3: Market Challenges - The Greater China market is currently facing intense competition from local brands, which have captured approximately 60% of the top 20 sports market share, and the demand for unique consumer experiences is rising [11][12]. - The new leadership is expected to focus on rebuilding momentum and reconnecting sports with culture in the market, indicating a shift from strategic and financial management to deeper market operations and consumer engagement [12][13]. Group 4: Future Expectations - Cathy Sparks' appointment signals a new phase for Nike in China, emphasizing retail fundamentals, local innovation, and the need for patience and execution in a complex market [13]. - The challenges ahead include balancing inventory management with brand value and adapting global strategies to local market conditions [12][13].

Core Insights - The article emphasizes the importance of integrating cultural symbols, sports spirit, core technology, and key market segments for brands to maintain a competitive edge in the market during the Year of the Horse [1][34] - The marketing strategies of various sports brands during the Year of the Horse are highlighted, showcasing their efforts to avoid homogenization and find a balance between cultural deconstruction and brand expression [5][34] Group 1: Cultural Significance of the Horse - The preference for the "Horse" symbol among sports brands is rooted in its rich cultural connotations and strong spiritual symbolism, representing speed, endurance, and success [2][4] - The Horse's image resonates deeply with consumers, making it an effective marketing symbol that connects emotionally and culturally [2][4] Group 2: Marketing Strategies - Brands are employing three main marketing strategies: cultural empowerment, emotional resonance, and product performance linkage [5][13] - Cultural empowerment involves leveraging traditional symbols and values associated with the Horse to create meaningful marketing narratives [5][7] - Emotional resonance focuses on connecting the Horse's spirit with consumers' experiences and attitudes towards life and sports [13][15] Group 3: Product Integration - Brands are integrating the Horse's imagery and spirit into their product designs, enhancing the emotional and cultural value of their offerings [4][9] - Examples include PUMA's "Puma Power" series and Anta's collaboration with Xu Beihong's "Galloping Horses" painting, showcasing a blend of traditional art and modern sports aesthetics [7][9] Group 4: Future Marketing Opportunities - The Year of the Horse in 2026 is anticipated to be a significant marketing opportunity, particularly with the integration of the Horse theme into marathon events [28][30] - The alignment of the Horse's symbolism with the endurance and spirit of marathon running presents a unique marketing angle for brands [30][32] - The potential for "Horse Year × Marathon" marketing strategies could lead to innovative product offerings and deeper consumer engagement [32][34]

Core Insights - The article discusses how international brands are localizing their narratives during the Chinese New Year, focusing on emotional connections with consumers and responding to cultural sentiments [1][21] - The theme of the Year of the Horse emphasizes finding one's own rhythm and state amidst societal speed anxiety, leading brands to shift from grand competitive narratives to promoting a "steady wins the race" philosophy [3][30] Brand Strategies - Nike has launched its "Breakthrough with Sport" campaign, emphasizing everyday life and emotional connections through sports, with its first TVC achieving over 10,000 views on social media [3][5] - Lululemon's short film "Spring, Renewed" features prominent figures to convey the idea of new possibilities in repetitive moments, aligning with the theme of spring [4][14] - The North Face celebrates its 60th anniversary with the "Exploration is Destiny" theme, hosting a three-day event that intertwines its brand history with cultural narratives [4][14] Cultural Engagement - Brands are moving beyond superficial cultural symbols to engage deeply with social and historical contexts, reflecting a shift towards micro-empathy in marketing narratives [21][26] - Nike's marketing resonates with the emotional pressures faced by modern adults, providing a "decompression zone" through relatable content [22][24] - Lululemon's focus on spring narratives over zodiac symbols highlights a unique differentiation strategy rooted in Chinese agricultural culture [28] Lifestyle Integration - The integration of sports into daily life is a key theme, with brands like Nike and On running campaigns that blend sports with everyday activities [29][30] - The shift from competitive urgency to emphasizing quality of life and sustainable values reflects broader trends in the sports industry [31][34] - The rise of low-pressure, high-experience sports like pickleball indicates a transformation in consumer preferences towards more accessible and enjoyable activities [34]

董炜 凯茜·斯帕克斯 1月21日，耐克公司公告称，现任大中华区董事长兼CEO董炜（Angela Dong）将于3月31日卸任。其职 位将由在耐克拥有25年零售经验的凯茜·斯帕克斯（Cathy Sparks）接替。 新帅登场，大中华区战略转向？ "零售实战派"或重新激活品牌 对于业界而言，董炜的离任显得颇为突然。资料显示，董炜是一位CFO（首席财务官）出身的本土化高 管，自2005年加入耐克，深度参与并领导了公司在华的快速扩张。在其任内，耐克通过赞助上海马拉 松、耐克高中篮球联赛（CHBL）等项目，在中国市场建立了深厚的品牌资产。 2024年10月，董炜刚刚被擢升为耐克大中华区董事长兼CEO，并兼任专业户外品牌ACG全球CEO。这 一任命在当时被广泛解读为耐克对中国市场及高速增长的户外赛道双重加码的明确信号。 "在耐克工作的二十余年间，她以其卓越的领导力、对市场和业务的深刻理解以及在应对复杂多变的挑 战中发挥的领导作用而著称。为此，对她为耐克在这个关键市场中谱写的诸多篇章所作出的贡献，我们 深表感激。"此次宣布离任，耐克对董炜的工作表现作出了较高评价。 然而，官方的赞誉与市场业绩形成了鲜明反差。根据最新财报，在 ...

While talks of a turnaround for Nike, Inc. ( NKE ) gained traction late last year, in mid-October I initiated the stock with a sell rating. I believed that Nike wasn't out of the woodsI'm a full-time investor with a strong focus on the tech sector. I graduated with a Bachelor of Commerce Degree with Distinction, major in Finance. I'm also a proud lifetime member of the Beta Gamma Sigma International Business Honor Society. My core values are: Excellence, Integrity, Transparency, & Respect. I always, to the ...

Core Viewpoint - Nike is currently undergoing a challenging reset, raising questions for investors about the sustainability of its dividend payouts amidst operational struggles [1][2]. Dividend Growth - Nike has a strong history of paying and increasing dividends, with an annual dividend growth from $0.16 per share in 2006 to $1.64 per share in 2026, reflecting an annual growth rate of over 12% [3]. - If Nike increases its dividend this year, it will join the Dividend Aristocrats, a group of S&P 500 companies that have raised dividends for 25 consecutive years [3]. Financial Performance - Despite current challenges, Nike generated over $2.4 billion in free cash flow over the past year, which comfortably covers its annual dividend obligation of approximately $1.7 billion [4]. - The dividend yield has increased to 2.4%, up from less than 1% in 2021 and the historical average of around 1%, reflecting a 63% decline from its all-time highs [5]. Turnaround Strategy - Nike is in the process of addressing multiple issues, including reliance on classic sneakers, a direct-to-consumer strategy that has alienated wholesale partners, and competition from emerging brands [10]. - The company aims to increase revenue from $46.3 billion to $58 billion, adjusted EPS from $2.16 to $4.22, free cash flow from $3.27 billion to $3.91 billion, and annual dividends from $1.57 per share to $2 per share [9].

中经记者 刘旺 北京报道 耐克在中国市场即将迎来外籍新帅。 《中国经营报》记者从耐克方面获悉，现任大中华区领导董炜将于3月31日正式卸任。同时，耐克宣布 任命Cathy Sparks为新任耐克大中华区副总裁兼总经理。 耐克对董炜评价颇高，该公司方面提到，董炜于2005年加入耐克。在过去20余年间，她在大中华区担任 多项重要领导职务。在其任期内，耐克深度参与并见证了大中华区体育、文化及业务发展的多个里程 碑，包括北京奥运会、中国消费者与数字生态的迅速崛起，以及全球疫情期间的挑战与复苏。 在董炜的带领下，耐克通过上海马拉松、耐克高中篮球联赛（CHBL）、ACG崇礼168以及"下站东 单"等标志性品牌活动，持续推动大中华区的运动文化发展。"我们衷心感谢董炜为这一关键市场所作出 的长期贡献，并祝愿她在未来一切顺利。"耐克公司方面表示。 不过，仍要看到的是，耐克在中国市场出现了业绩下滑的情况。在不久前发布的2026财年第二季度 （2025年9—11月）财报中，耐克大中华区营收为14.23亿元，同比下降约17%。其中，直营Nike Direct 下滑18%，其中数字化业务Nike Digital下降36%，Nike自有门 ...

每经记者：孙宇婷 王紫薇 每经编辑：文多 自推行"Win Now"（赢在当下）战略以来，耐克高层变动频繁，这次轮到了大中华区。 1月21日，耐克公司宣布，现任大中华区领导董炜（Angela Dong）将于3月31日正式卸任耐克大中华区 CEO（首席执行官）。让市场颇为意外的是，接棒者不是被外界熟悉的本土面孔，而是从门店店员起 步、拥有25年一线实战经验的凯西·斯帕克斯（Cathy Sparks）。 此次换帅意味深长。自2015年出任大中华区总经理以来，董炜主导了耐克在中国市场从高速扩张到数字 化转型的完整周期，但面对越发激烈的市场竞争，公司清库存速度慢于全球市场的步伐，耐克大中华区 需要的不再是擅长品牌叙事、有着CFO（首席财务官）履历的掌门，而是一位能深入泥泞、整顿渠道、 提升售罄率、让每一家店都更赚钱的"零售特种兵"。 在耐克的全球版图中，大中华区已经不是一个可以容许"慢慢来"的市场。 库存与市场份额承压 一位长期跟踪体育消费行业的分析师在1月21日向《每日经济新闻》记者表示，董炜任内最核心的战 绩，是推动耐克在中国构建了"高度独立的数字化生态"。 公开资料显示，在董炜推动下，耐克大中华区于2016年便着 ...

Core Insights - Nike is facing significant challenges in the current consumer economy, with its stock down 53% over the past five years and a decline in return on equity from 43.1% in 2022 to 23.3% in 2025 [1][2] Financial Performance - The company's quarterly gross profits have been declining since 2023, and despite beating earnings expectations in Q2 of fiscal 2026, the stock price fell 10% following the earnings call due to disappointing revenue from China, which was down 17% year-over-year [1][6] Market Challenges - Nike is impacted by tariffs, expecting to incur $1.5 billion in costs for fiscal year 2026, which will reduce its gross margin by 1.2% [3] - The company is also experiencing declining revenue in China, a crucial market for its future growth [5][7] Consumer Behavior - U.S. consumers are becoming more price-sensitive, with 48% not planning to buy footwear during the 2025 holiday season, and 65% of potential buyers citing tariffs as a reason for increased prices [8][9] Strategic Changes - CEO Elliott Hill, appointed in October 2024, is implementing a turnaround strategy focused on rebuilding relationships with wholesale partners and regaining retail shelf space, moving away from the previous leadership's e-commerce discount strategy [8]