Although Germany defeated the United States in the World Cup last Thursday, U.S. sportswear maker Nike said it was riding on the World Cup’s success to beat German rival Adidas and other brands to the ground. First.
Previously, Nike, headquartered in Beaverton, Oregon, USA, released a financial report stating that global sales of the company’s products of the same name rose by 13% year-on-year in the last quarter, with an increase of 18% in Europe. Europe can be said to be the home court of its competitor Adidas. Adidas is smaller than Nike, and now Nike is encroaching on Adidas’ market share in Europe.
Nike is seriously challenging Adidas’ position as the world’s largest seller of football equipment. (According to Euromonitor, a British information consulting company, Nike accounts for 14.1% of the global sportswear/footwear market, while Adidas’ market share is 9%.)
Reuters reported that earlier last week, Adidas Chief Executive Herbert Hainer said that it would achieve $2.72 billion in 2014 thanks to the outstanding performance of the star players supported by the company in the World Cup. Football supplies sales target continues to be ahead of Nike’s sales of US$2 billion.
But Nike executives are telling investors that its equipment is dominating the World Cup. This will enhance the company’s visibility, influence future sales and reduce the gap with Adidas in this regard.
Trevor Edwards, global president of the Nike brand, said on a conference call that the number of players wearing Nike at the World Cup is greater than the total number of players wearing other brands. Edwards also said that more importantly, one-third of the players in the World Cup wore Nike’s Magista or Mercurial Superfly series of football boots.
Edwards said: “Nike football products have boosted sales in our online store and wholesale partner football stores, and the response from players to these football boots has been overwhelming.”
Nike said “future orders” for all merchandise scheduled to ship between July and November, a metric closely watched by investors, rose 11%, suggesting the World Cup momentum will continue long after the season ends. get maintained.
Beyond the World Cup, there’s plenty of good news for Nike: its store sales for the twelve months ended May 31 were up 22%, while wholesale sales were up 8%, proving the company is adding more self-operated sales. The store’s strategy is now bearing fruit. In the past many years, Nike has had many problems in the Chinese market: wrong store location, product shortages, etc. Now, however, double-digit sales increases in Nike’s Chinese shopping malls appear to be the norm.
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