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Business · Retail
Growth of Chinese sporting goods manufacturers buoyed by Chinese marathon mania
CKN
2019/07/08 10:24:24
2,112
Chinese sporting goods manufacturers, Xtep, Li Ning, Kunshan Do-win Sports Goods

Jul 08, 2019 (China Knowledge) - According to the China Athletic Association, market for long-distance running has doubled since 2015, hitting RMB 74.6 bln in 2018. It is predicted to be worth more than USD 18 bln by 2020.

Marathons are becoming more popular in China as Chinese become more health-conscious with rising incomes. "1,581 long-distance running events were held in China in 2018, up 40% YoY, and more than 5 million people participated in the events," said Yu Hongchen, vice president of the China Athletic Association.

These events play an important role in supporting economic growth. The trend has led Chinese sporting goods manufacturers to grow at accelerating pace.

In 2018, Xtep’s net profit reached RMB 650 mln, up 61% YoY. The company launched a project to collect data from running enthusiasts to develop new products.

Retired Chinese gymnast Li Ning set up a company named after himself LiNing, which is particularly popular in China, thanks to his popularity. The company's sales in 2018 was RMB 10.5 bln, up 18% YoY.

Kunshan Do-win Sports Goods has high recognition in China. Customers appreciate the durability its products. The company is also trying to cement its brand recognition by supplying to athletes who compete for China at international competitions.

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