Core Insights - The sports and outdoor brands are experiencing significant growth during the "618" shopping festival, with high-end brands showing remarkable performance, such as lululemon and Salomon, which saw growth rates exceeding 400% [1] - Adidas has defied market skepticism by achieving double-digit growth across all markets and channels in Q1, showcasing effective strategies like supply chain flexibility and brand rejuvenation [1][9] - The high-end outdoor and running gear segments are emerging as key growth areas for sports brands, driven by the rising demand from the new middle class [2] Company Performance - Adidas reported strong Q1 results, with a notable increase in sales and a focus on localizing its product offerings in China, achieving a 13% growth in net sales in the Greater China region [9][10] - Amer Sports, which owns brands like Arc'teryx and Salomon, saw a 23% revenue increase in Q1, reaching $1.473 billion (approximately 106.09 billion RMB), driven by high-performance outdoor apparel [2] - On, a Swiss sports brand, achieved record sales in Q1 with a 43% year-on-year increase, reaching 726.6 million Swiss francs (approximately 63.49 billion RMB), and expects at least a 28% growth in annual net sales [3][4] Market Trends - The demand for high-end outdoor products and running gear is surging, with brands like Asics reporting a 19.7% increase in sales to 208.3 billion yen (approximately 104 billion RMB) in Q1 [4][5] - The retro sports trend is gaining traction, as evidenced by Asics' Onitsuka Tiger brand, which saw a 56.1% increase in sales, benefiting from global exposure and strategic marketing [8] - The integration of fashion and sports is becoming increasingly important, with brands like Adidas targeting the young female market and leveraging social media for brand engagement [6][7] Strategic Initiatives - Adidas is focusing on a "global brand, local operation" strategy, emphasizing the importance of the Chinese market and adapting products to local preferences [9][10] - The company is enhancing its direct-to-consumer (DTC) approach through e-commerce and social media platforms, aiming to strengthen consumer interaction and brand loyalty [10] - Amer Sports is expanding its footwear division to capture new growth opportunities in the outdoor apparel sector [2]

以下文章来源于商业弧光 ，作者柳柳 商业弧光 . 听风者，捕光人，最准点的商业节拍 出品｜虎嗅商业消费组 阿迪达斯全球首席执行官比约恩·古尔登在财报会议上表示，中国市场潜力巨大，对阿迪达斯至关重要。随 着中国经济增长推动中等收入群体规模不断扩大，体育参与度显著提高，时尚消费需求不断增长，这些因 素将推动阿迪达斯加大在中国市场的投入。并预计阿迪达斯2025年营业利润将进一步增至17亿欧元至18亿 欧元之间，进一步显著改善盈利状况。（在2024年完成剩余YEEZY库存的销售后，公司的预期不包括2025 年的任何YEEZY收入和利润，2024年该数据分别为约6.5亿欧元和约2亿欧元。） 受宏观经济环境变化、疫情冲击以及市场竞争加剧等多重因素影响，2022年开始，阿迪达斯在中国市场营 收出现两位数下降。尤其是安踏等中国本土运动品牌的崛起，抢占市场份额，给阿迪达斯带来了巨大竞争 压力。而阿迪达斯此前的产品策略和市场定位未能及时跟上消费者需求变化趋势，导致其在市场竞争中处 在了劣势 。 2022年，阿迪达斯库存积压问题严重，销售渠道受阻，品牌市场推广活动也受到极大限制，和YEEZY系列 的合作结束，更是一度让其陷入巨变与 ...