Recently, Nike released its Q4 and full year financial report for the 2024 fiscal year, achieving a revenue of $51.4 billion for the year, an increase of only 1% compared to the previous fiscal year. In the 2023 fiscal year, Nike’s annual revenue was $51.2 billion, with a year-on-year growth rate of up to 16%. Nike is facing a crisis of significant “stagnation” in global performance.
At the same time, most of the “veteran” athletes in overseas sports are also trapped in a global “downtime” mode. The latest annual report of the well-known German sports brand Adidas shows that in the fiscal year 2023, Adidas achieved a global revenue of 21.427 billion euros, which is the same as the previous year.
The Greater China region has become a key area for overseas sports brand giants seeking performance growth. But in the past two years, the dynamic pattern of the domestic sports brand market has been frequently updated. Can the Chinese market turn the tide for the global growth “stagnation” of brands such as Nike?
