Olympics-Winter goods win as Games spark buying rush in China
08/02/2022 11:17
By Sophie Yu and Brenda Goh
BEIJING, Feb 8 (Reuters) - The start of the Beijing Winter
Olympics has triggered a gold rush for winter sport goods in
China, with online purchases of equipment and clothing from
brands such as Anta Sports and Descente surging, and physical
stores stripped bare.
The Chinese e-commerce firm JD.com's JD.O said sales of
ski products on its platform for the period from Jan. 31 to Feb.
4 - the day of the opening ceremony - tripled from the same
period last year. Ski goggle sales jumped 15 times and sales of
figure skates and ice hockey sticks also jumped.
Over the same period, sales of ski equipment and skating
products on Alibaba Group's 9988.HK Tmall marketplace rose
180% and 300% respectively, the company said.
Neither platform provided sales figures.
Sales of down jackets made by China's Anta and Descente
8114.T of Japan in the same period doubled from the previous
year, JD.com said.
Huang Xiaohu, a 34-year-old businessman in the northeastern
city of Dalian, said he had driven to his local Decathlon store
the day after the ceremony in search of a snowboard and ski
clothes, only to leave empty-handed.
"Everything was sold out," he said. "There were only socks
left, but the choice of those was limited too."
Anta 2020.HK , an official sportswear partner of the
Beijing Games, led a group that paid 4.6 billion euros ($5.3
billion) three years ago for Finland's Amer Sports, whose
portfolio includes European ski brands Atomic and Salomon, and
Canadian outerwear brand Arc'teryx.
Xiaohongshu, an Instagram-like lifestyle content platform,
reported a spike in searches for Team Canada's red and white
outfit and its manufacturer Lululemon LULU.O after the opening
ceremony.
Makers of winter sports garments and equipment have been
rushing to expand their presence in the world's second-largest
economy, betting that the Olympics kindle enthusiasm beyond the
Feb. 20 close in a nascent market.
U.S.-based Spyder, KJUS and Mammut of Switzerland, Helly
Hansen of Norway, Templa of Belgium, and Rossignol and Fusalp of
France are among brands that have expanded into China in the
last two years, while Goldwin 8111.T of Japan and Head
Sportswear of Austria opened their first stores in China in late
December.
China hopes the Games turn it into a winter sports power:
President Xi Jinping has set a target of getting 300 million
Chinese involved in ice and snow sports, with the aim of
building a 1 trillion yuan ($150 billion) industry.
German fashion group Bogner, which makes upmarket winter
jackets and ski wear, opened its first self-operated store in
Beijing late last year and aims to open more 80 brick-and-mortar
stores in China in partnership with Chinese brand Bosideng by
2025 that will sell two of its brands, Bogner and Fire+Ice.
Its down jackets sell for 8,000 to 22,000 yuan ($1,250 to
$3,450) in China.
"China's ski market is developing towards the high-end and
Chinese consumers value individualism," said William Yang,
general manager of Greater China Bogner.
($1 = 6.3623 Chinese yuan renminbi)
($1 = 0.8757 euros)
(Reporting by Sophie Yu and Brenda Goh; Editing by Kevin
Liffey)
((Sophie.Yu@thomsonreuters.com; 861056692136;))