耐克中国自救，从给在华高管加速放权开始丨小贺说

Core Insights - Nike is facing significant market pressure in China, necessitating a more flexible operational mechanism and empowering local teams [1][3] - The company has appointed regional leaders, including the promotion of Dong Wei to a higher management level, to enhance collaboration and accelerate the Win Now plan [1][3] - Nike's sales in China have declined by 16% year-on-year to $1.423 billion, with EBIT dropping by 49% [3][4] Company Performance - Nike's direct business in China has seen an 18% decline, with digital sales down 36% and store sales down 5% [3] - The wholesale business has also decreased by 15%, indicating broader challenges in the market [3] - Increased discount sales and higher return rates have negatively impacted profitability in the Greater China region [4] Market Competition - The competitive landscape in the Chinese sports market is intensifying, with domestic brands gaining market share [5][6] - Nike's market share has decreased from 18.1% to 16.2%, while Adidas has dropped from 15% to 8.7% [6] - Domestic brands like Anta and Li Ning are experiencing growth, with Anta's market share increasing from 9.8% to 10.5% [6] Strategic Adjustments - Nike is working to reshape its brand image in China by reducing discount rates to maintain its premium positioning [7][9] - The company plans to upgrade key stores and has seen a 25% increase in sales for upgraded product categories [10] - Nike is also reducing inventory levels, with a 20% decrease in stock compared to the previous year, and is adjusting its product procurement strategy [10] Future Outlook - Despite current challenges, Nike remains confident in the Chinese market, as evidenced by the launch of its first creative center outside the U.S. in Shanghai [11] - The company continues to leverage its marketing strengths by collaborating with local sports stars and engaging in significant events like the National Games [11] - The recent management changes reflect Nike's response to the evolving market dynamics in China [11]