Nike’s China Slump Signals Shift Toward Local Brands Under ‘China Chic’
Nike’s Greater China revenue has fallen 30% since 2021, with eight straight quarters of declines, as younger Chinese shoppers favor domestic brands in the China Chic movement and demand locally tailored products. The company is revamping its China strategy, appointing a local product chief, launching two China-focused lifestyle capsules, and overhauling a fragmented, discount-heavy distribution network—a reset that could trim up to $1 billion in annual China revenue in the near term but aims to restore growth through localization and stronger brand connection.