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Extract 3 China's fitness boom energises sportswear brands China is in the grip of a government-backed exercise boom, boosting local sportswear brands and the likes
Extract 3 China's fitness boom energises sportswear brands China is in the grip of a government-backed exercise boom, boosting local sportswear brands and the likes of Adidas and Nike, which are gaining market share on the back of consumer upgrading and an embrace of the 'athleisure' fashion trend. Analysts say that Nike, Adidas and New Balance, which command higher prices than local brands, are viewed by Chinese consumers more as fashion labels than sportswear. Global brands are still very strong in shaping fashion trends especially in the female market. Their sales growth stems from consumers upgrading as incomes rise, as well as the growing acceptance of sportswear in leisure and work settings. Local brands, still perceived as copying design innovations from overseas, are also benefiting, with their sales increasing rapidly as more Chinese take up exercise. Gym membership in the country has doubled since 2008 to 6.6 million last year, according to the China Business Research Academy. Running has become a popular pastime, with more than 100 marathons held last year compared with 51 in 2014. Yoga practitioners are estimated to have grown from 4 million in 2009 to more than 10 million today. Page 2 of 3
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