NEW: A Bloomberg analysis of data reveals that the political incidents that periodically ensnared foreign companies in China are starting to have a more lasting impact than before. Read The Big Take ⬇️
Before the Xinjiang controversy, Greater China contributed more than 20% of Nike and Adidas’s global revenue, after roughly doubling in the past decade. In the most recent quarter, that dropped to no more than a fifth.
“We’re getting a little bit better each quarter,” said Nike’s Chief Executive Officer John Donahoe in an earnings call with analysts in December. “We’re going to continue to invest to lead in China.” Both are investing more into tailoring products to local tastes and using retail innovations common in China, like livestreaming shopping, to boost demand.
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