Nike (NYSE: NKE) opened a flagship store in the heart of Beijing
on Monday, underscoring the company's brand leadership in China,
strong growth momentum in one of Nike's largest markets, and its
rapidly expanding retail presence in more than 300 cities across
the country.
"It's extremely exciting to open a flagship Nike retail presence
in one of the world's great cities," said Nike brand President
Charlie Denson, who was in Beijing for the store opening. "China is
one of Nike's biggest growth opportunities, and one of the most
dynamic retail markets in the world. Our Beijing flagship store
creates a strong brand statement with a compelling world-class
shopping experience. As we head toward the Olympics, we're
extending our brand leadership, deepening our consumer
relationships and building what we expect soon to be a $1 billion
business and Nike's second-largest market in the world."
Nike athlete Liu Xiang, the world record-holder in the 110m
hurdle and the first Chinese track-and-field athlete to win a gold
medal, was on hand for the opening of the Nike store, located at
Wang Fu Jing in one of Beijing's premier shopping districts. The
approximately 13,000-square-foot-store features a full assortment
of Nike product and is within walking distance of Nike-sponsored
Dong Dan Park, one of the city's most popular playgrounds with
multiple basketball courts and football pitches. FC Barcelona's
two-time FIFA Player of the Year Ronaldinho, along with teammates
Gianluca Zambrotta and Giovani Dos Santos, also made the Nike store
opening one of their stops during the club's current Asia tour.
The Beijing store is the largest of approximately 3,000 Nike
retail destinations now open in China. Nike is China's leading
athletic brand, representing about a third of the market and
significantly ahead of the nearest competitor. Nike leads the
market in basketball and football (soccer) -- the two most popular
sports among Chinese youth. Nike athletes such as Kobe Bryant and
LeBron James are extremely popular in China, which is the most
important basketball market in the world outside of the United
States.
Nike has been doing business in China for more than 25 years,
first sponsoring China's national basketball teams in 1980. For the
Beijing ‘08 Olympics, Nike is sponsoring 22 of the 28 Chinese
federations. At the 2004 Olympics in Athens, Nike sponsored 12
Chinese athletes who won gold medals.
(China.org.cn August 6, 2007)
