讨好中产的迪卡侬，反被穷鬼抛弃

Core Viewpoint - Decathlon is facing challenges in the Chinese market, with reports suggesting the company is considering selling a 30% stake in its Chinese operations for an estimated €1-1.5 billion, indicating a decline in market performance [1][3]. Financial Performance - In 2024, Decathlon's revenue increased, but net profit decreased by 15.5% compared to the previous year, signaling a troubling trend for the company [3]. - The average price of Decathlon products rose from ¥128.81 in 2022 to ¥196.32 in 2024, with some items, like hiking backpacks, seeing prices double [7][19]. Market Position and Brand Evolution - Decathlon, once known as a budget-friendly option for sports enthusiasts, has shifted towards a more mid-range market positioning, appealing to new middle-class consumers [10][12]. - The company has expanded its product offerings significantly, with a 40% increase in average SKU in outdoor categories and a 200% increase in cycling products [17]. Competitive Landscape - Decathlon's attempt to enter the high-end market with its VAN RYSEL brand has not yielded the expected results, as it struggles to gain recognition among established premium brands [26][29]. - The rise of local competitors, such as 361°, which has successfully targeted the entry-level market, poses a significant threat to Decathlon's traditional customer base [41][45]. Strategic Challenges - Decathlon's rapid shift towards mid-range and high-end products may have been premature, as consumer perception has not aligned with the brand's new positioning [34][36]. - The company faces challenges in maintaining its reputation for affordability while attempting to elevate its brand image, leading to a potential disconnect with its core customer base [45][49].