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Chinese sportswear brands reduce local store count in 2012
08 Mar '13
1 min read
Several Chinese sportswear brands have closed a number of their domestic outlets during 2012.
The six major Chinese sportswear brands, including Li Ning, Peak, Anta and 361 degrees, shut more than 3000 shops last year, of which, the average number of closed shops by Li Ning and Peak was 1000 shops.
Recently, Xtep has announced plans to close 100 to 200 stores this year, which is nearly twice the number of outlets closed last year.
Last year, the business of foreign sportswear brands was steady, but after the Spring Festival, even their businesses seem to have gone down.
The German-owned brand Puma, the third-largest sports brand, has announced plans to cut expenses in 2013, which includes closure of more than 90 non-profitable shops in China.
Fibre2fashion News Desk - China
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