Chinese sportswear brands sprint into healthy growth

Chinese sportswear brand Li-Ning saw its net profits surge 187 percent year-on-year in first half of 2021 to over 1.96 billion yuan ($302.89 million), according to the firm's mid-year performance report released on Friday, The Paper reported.

Li-Ning said the firm's implementations of sales improvement during the pandemic contributed to the satisfactory result, along with the climbing demand from domestic consumers for a healthier life as well as their acknowledgement and support for domestic sportswear brands.

Clothing was found to give a major uplift to the overall business of Li-Ning, with sales up 72 percent over the same period last year, followed by growth in the footwear business, up 57 percent. The two businesses contributed to 95 percent of the total revenue.

Besides Li-Ning, other domestic sportswear brands also enjoyed clear growth, including Xtep, Anta and 361 Degrees.

Anta's first half business performance forecast released in June showed its operational profits will rise at least 55 percent year-on-year. The firm said retail sales for its major brand improved 35-40 percent, those for its Fila brand 50-55 percent, and those for other subsidiary brands 90-95 percent.

Xtep International showed in its forecast released in July that comprehensive profits for the first half of 2021 will jump at least 65 percent with retail sales up around 40-45 percent.

Erke and Guirenniao, two fading sportswear brands, grabbed the spotlight again because of their donations to flood-ravaged areas in Central China's Henan province this summer. Erke was repeatedly featured among hot searches of Sina Weibo; its TikTok livestreaming broke its "likes" record and retail sales have gone up multiple times.