涨价后，迪卡侬的日子不好过了

Core Viewpoint - Decathlon is facing significant challenges in the Chinese market, with rumors of selling a 30% stake in its China operations and a decline in profitability, indicating a shift from its original value proposition to a more expensive product range that alienates its core customer base [2][3][4]. Group 1: Financial Performance - Decathlon's total revenue for 2024 was €16.2 billion, a slight increase of 3.8%, while net profit fell to €787 million, a year-on-year decline of 15.47%, marking the lowest profit in four years [2]. - From 2022 to 2024, the average selling price of Decathlon's products increased from ¥128.81 to ¥196.32, representing a 52% rise [5]. Group 2: Market Positioning and Strategy - Decathlon has transitioned from being a budget-friendly outdoor goods retailer to a brand perceived as both expensive and unattractive, losing its appeal to price-sensitive consumers [3][4]. - The company has initiated a brand refresh and is focusing on high-end product lines, aiming to cater to middle-class consumers by offering smaller, more specialized stores in urban areas [9][11]. Group 3: Competitive Landscape - The outdoor equipment market is seeing a trend of rising prices across various brands, with many local brands experiencing price increases of 25% to 65% [13]. - High-end outdoor brands have been capitalizing on market demand, with significant revenue growth reported by competitors such as Anta and Lululemon in the Chinese market [15][16]. Group 4: Brand Image and Consumer Perception - Decathlon's shift towards higher-priced products has led to consumer backlash, with critiques highlighting the brand's decline in value perception [6][7]. - The company is attempting to enhance its brand image through marketing efforts, including sponsorship of major sporting events and partnerships with well-known athletes [10]. Group 5: Leadership Changes - In 2024, Decathlon announced a leadership change, replacing CEO Barbara Martin Coppola with Javier López, suggesting potential dissatisfaction with the effectiveness of the company's recent transformation efforts [8].