With the Paris Olympics set to begin on July 26th, major fashion and sports brands are beginning to preheat.
At 1:00 pm local time on July 14th, the 2024 Paris Olympic torch began to be relayed in Paris. The relay in Paris will last for two days.
CITIC Securities released a research report stating that as the supply chain gradually recovers, major sports brands are gradually digesting inventory issues, and the competition factors in the sports shoe and clothing industry have undergone important changes. Each brand focuses on sports technology research and development to meet the differentiated needs of consumers.
Yongxing Securities pointed out that with the Olympics approaching, the consumption of sports shoes and clothing is expected to warm up.
With the Paris Olympics about to begin on July 26th, major fashion and sports brands are beginning to preheat. The bank believes that as a globally significant event, the Olympic effect may bring sustained dividends to brands. Considering that 2024 is a sports big year, the sports shoe and clothing sector is expected to see high-quality growth in performance.
Sports clothing-related companies include:
Li Ning (02331): The company held the 2024 technology show in May this year, reviewing Li Ning's technological innovation history over the years and launching new technological products such as Long Que and Jue Ying 3. CICC believes that Li Ning's brand has a relatively leading category expansion ability, product matrix capacity, and series iteration ability. The continuous iteration and matrix operation of professional sports equipment also brings good sales performance.
Anta Sports (02020): The company has scarce multi-brand matrix resources, and the main brand and FILA brand have steady growth. The new outdoor brand continues its high-growth trend, and the landing of Olympic products in the second half of the year is expected to drive growth.
Xtep Int'l (01368): In 2024 Q2, the retail flow of the Xtep main brand increased by 10% year-on-year, and the retail discount was about 75% off; in 2024 H1, the flow of the Xtep main brand increased by a high single digit year-on-year, and the channel inventory turnover was about 4 months.
Topsports (06110): The performance of the main and other brands in FY2025 Q1 is close, and institutions predict that the performance of the main brand's new products will improve with Olympic marketing.