Starting in mid-March 2023, 361° was the first to release its full-year performance for 2022, with revenue of RMB 6.96 billion (about $1 billion), continuing to break historical revenue records and increasing by 17.3% year-on-year.
Li-Ning, a Chinese sports brand that has always claimed to have stuck to consumer-focused core values, has recently caused controversy over some products that are similar to Japanese military uniforms. The resulting backlash caused the company's share price to plummet.
Anta Sports Products Limited, a prominent sportswear company in China, increased its overall revenue in the first half of the year by 13.8% to 25.97 billion yuan ($3.79 billion), higher than Nike China's $3.7 billion in the same reporting period.
On June 27, Nike, the U.S. sportswear giant, released key financial data for its fiscal 2022 fourth quarter and full year ended May 31, 2022. Its share price fell nearly 7% the next day and its market value dropped by $12 billion.
The Nike Run Club (NRC), a running app owned by Nike, said on Wednesday that it would stop offering its services in the Mainland of China as of July 8, 2022 due to business adjustments.
Starter, an international fashion sports brand, has recently received $40 million in C-round financing. The leading investor was QY Capital.
In the early hours of March 23, Beijing time, CNNMoney.com reported that a trade war between U.S. and China would be very bad news to some big U.S. companies.