Nike Brand Head Very Pleased With Beijing Effort
SAN FRANCISCO (Reuters) - More than just benefiting from a short-term sales spike from the Olympic Games, Nike (NKE.N: Quote, Profile, Research, Stock Buzz) is grabbing the attention and trust of Chinese consumers that will help secure its position as the No. 1 athletic brand in China, the company's Nike brand president said on Tuesday.
China, currently the company's second-largest market behind the United States, represents the largest sourcing country and the fastest-growing market anywhere on the globe for Nike Inc, the largest athletic shoe and apparel maker in the world.
Charlie Denson, Nike brand president, told Reuters in an interview from Beijing that Nike is 33 percent bigger than its next competitor in China -- German brand Adidas AG (ADSG.DE: Quote, Profile, Research, Stock Buzz) -- and is committed to cementing its position as it grows on a long-term basis within that country of 1.3 billion consumers.
"It's not just about the financial success we're having today but the long-term sustainability of that and our connectivity with the Chinese consumer," Denson said. "From a growth standpoint, China is and will continue to be one of our biggest growth engines over the next several years."
The company has been opening stores on a daily basis, Denson said, and is now in some 300 Chinese cities. Sales in China rose 50 percent in the first half of the year on a constant currency basis, the company said in June. Earlier in the year, Nike announced that it reached its original goal of $1 billion in sales in China a year ahead of original projections.
"We are very pleased with our efforts here in Beijing and our efforts here overall, and I would say globally," Denson said.
The company sponsors individual athletes performing in the Olympics, such as track idol Liu Xiang, and dresses 22 of the Chinese sport Federations.
Earlier this week, the company ran full-page ads in Chinese newspapers in support of Xiang, who could not compete in the hurdles due to a foot injury, disappointing millions of fans. "Love sport even when it breaks your heart" said the ads
SAN FRANCISCO (Reuters) - More than just benefiting from a short-term sales spike from the Olympic Games, Nike (NKE.N: Quote, Profile, Research, Stock Buzz) is grabbing the attention and trust of Chinese consumers that will help secure its position as the No. 1 athletic brand in China, the company's Nike brand president said on Tuesday.
China, currently the company's second-largest market behind the United States, represents the largest sourcing country and the fastest-growing market anywhere on the globe for Nike Inc, the largest athletic shoe and apparel maker in the world.
Charlie Denson, Nike brand president, told Reuters in an interview from Beijing that Nike is 33 percent bigger than its next competitor in China -- German brand Adidas AG (ADSG.DE: Quote, Profile, Research, Stock Buzz) -- and is committed to cementing its position as it grows on a long-term basis within that country of 1.3 billion consumers.
"It's not just about the financial success we're having today but the long-term sustainability of that and our connectivity with the Chinese consumer," Denson said. "From a growth standpoint, China is and will continue to be one of our biggest growth engines over the next several years."
The company has been opening stores on a daily basis, Denson said, and is now in some 300 Chinese cities. Sales in China rose 50 percent in the first half of the year on a constant currency basis, the company said in June. Earlier in the year, Nike announced that it reached its original goal of $1 billion in sales in China a year ahead of original projections.
"We are very pleased with our efforts here in Beijing and our efforts here overall, and I would say globally," Denson said.
The company sponsors individual athletes performing in the Olympics, such as track idol Liu Xiang, and dresses 22 of the Chinese sport Federations.
Earlier this week, the company ran full-page ads in Chinese newspapers in support of Xiang, who could not compete in the hurdles due to a foot injury, disappointing millions of fans. "Love sport even when it breaks your heart" said the ads
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