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Adidas, Reebok vie against Nike for China market
Olympics Adidas in January won the rights to be the official sportswear sponsor for the Beijing Olympic Games and outfit Chinese athletes when they accept medals on the podium. Nike sponsors 21 of more than 30 Chinese Olympic teams, which will wear Nike uniforms during the games. Nike also sponsors Chinese basketball teams, hosts basketball camps and has flown in celebrities such as retired basketball star Michael Jordan and LeBron James of Cleveland Cavaliers. ``We are the No. 1 brand,'' Wolfram said in June. ``We'll maintain our No. 1 share position.'' Nike also is tailoring more of its marketing message to fit local tastes, by introducing campaigns such as a billboard showing a group of local kids playing basketball along Shanghai's famous Bund district, said Jesse Price, group communications director at Shanghai-based design firm Neri & Hu Design and Research Office. Asian Culture ``Their attitude toward China hasn't been short-sighted,'' said John Lewis of Gardner Lewis Asset Management, which owned 632,000 Nike shares as of March. ``Their concept is to become part of an Asian culture, not an American brand working in China.'' Adidas is banking on the addition of Reebok to counter Nike's lead. ``If you
have two strong brands in one country, that could be an advantage,'' said Bernd
Janssen, Frankfurt, Germany-based analyst at UBS Investment Bank AG, with a
``buy'' rating on Adidas.
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