Nike's China Sales Sink 30% Since 2021 as Localization Gaps Stall Turnaround
Updated
Updated · CNBC · Jul 29
Nike's China Sales Sink 30% Since 2021 as Localization Gaps Stall Turnaround
1 articles · Updated · CNBC · Jul 29
Summary
Nike’s China business has posted eight straight quarters of year-on-year declines, with annual revenue falling to an eight-year low after shrinking 30% from its 2021 peak.
Young Chinese shoppers are shifting to domestic brands such as Anta and Li-Ning under the “China Chic” trend, while analysts say Nike’s global-first products and slower innovation have made it less relevant locally.
Nike is trying to rebuild with its first Greater China vice president of local product creation, two China-designed lifestyle capsules due for the holidays, and a broader 18-month localization push.
The reset also includes unwinding a fragmented post-Covid distribution model; BNP Paribas estimates closing some online storefronts could cut regional revenue by as much as $1 billion, or 17% of sales.
The slump contrasts with rivals that localized faster: Adidas grew China revenue 13% in fiscal 2025 and Lululemon’s comparable sales in China rose 20%.