2025.08. 30 本文字数：2922，阅读时长大约5分钟 作者 | 第一财经 刘晓颖 球星们扎堆来中国，背后是体育品牌商业活动的推波助澜。阿迪达斯、李宁、安德玛们想借球星中国 行开展新品营销，而球星也配合着学沪语、粤语与当地球迷热情交流、打咏春拳、尝蛋炒蛋甚至火 锅，进一步将氛围炒热。 虽然有人说马拉松崛起，球鞋市场已死，但体育品牌商却似乎并不那么看。 球鞋业务到底是不是一门好生意 这两年业绩连连攀高，恢复元气的阿迪达斯又开始发力篮球业务。 在体育界中，终身合同十分稀少。但2024年年末，阿迪达斯却选择与NBA球星达米安·利拉德签下一 份终身合同。2014年利拉德曾跟阿迪签下10年1亿美元的长约，品牌从2015年开始为利拉德推出签 名鞋，如今到了第9代。 这也让利拉德成为现役第四位拥有终身合同的球星。此前三位是耐克的勒布朗·詹姆斯、凯文·杜兰特 以及安德玛的斯蒂芬·库里。 阿迪达斯篮球业务的辉煌时期可以追溯到20世纪80年代和90年代，当时签约了包括查尔斯·巴克利、 科比·布莱恩特等在内的一系列顶级篮球运动员。这些运动员的加盟曾经为阿迪达斯的篮球鞋带来巨 大的市场影响力。而当这些球星退役后，阿迪达斯需要 ...

Core Viewpoint - The sneaker market is experiencing a complex dynamic, with both opportunities and challenges as sports brands engage in high-profile marketing activities and face changing consumer behaviors [4][11][14]. Group 1: Market Dynamics - Adidas has recently signed NBA stars for promotional activities in China, indicating a strategic push to revitalize its basketball business [1][5]. - The sneaker market has seen a decline in trading heat, with only 47% of sneakers on Stock X expected to sell above retail price in 2024, down from 58% in 2020 [11][12]. - The rise of marathon running has shifted consumer interest towards running shoes, impacting traditional basketball shoe sales [14]. Group 2: Brand Strategies - Adidas has signed a lifetime contract with NBA star Damian Lillard, highlighting its commitment to basketball and the potential for long-term brand loyalty [5][6]. - Under Armour has successfully leveraged Stephen Curry's popularity to build its basketball brand, with revenue growth from $2.99 billion in 2013 to $5.7 billion in 2021 [6][8]. - Local brand Li Ning has also emphasized the importance of basketball in its product strategy, despite external challenges [14][16]. Group 3: Consumer Behavior - The sneaker market's cooling trend is attributed to changing consumer habits and a shift in the overall economic environment [12][13]. - High-end basketball shoes are still seen as a premium product, with brands continuing to invest in this segment despite market fluctuations [16]. - The era of extreme sneaker speculation may be over, leading to more rational pricing and broader accessibility for consumers [16].