gateway

Thursday, 24 February 2022 15:29

Chinese consumer no longer patronizing Nike and Adidas: Bloomberg

Rate this item
(0 votes)
  

As per a new analysis by Bloomberg, Chinese consumers are no longer patronizing Nike and Adidas like they used to, a trend that is purportedly driven by nationalistic rejection of forced labor accusations against the country.

In the last few years, China has faced accusations of human rights abuses in the region, with critics claiming that the nation’s “re-education” centers are actually prisons in practice.

In January 2021, former President Donald Trump banned all cotton imports from Xinjiang, as well as products made from the material, and declared that China was committing a “genocide.”

Based on the in-depth analysis by Bloomberg, the cotton controversy, as of last March, appears to have escalated based on both resurfaced and new statements made by several Western brands, which all denounced the alleged forced labor in Xinjiang to varying extents. Those brands include H&M, Nike, Adidas, Converse, Burberry, Zara, Hugo Boss and Gap, etc.

The new analysis shows that the fallout — at least for Nike and Adidas — was instant, as both brands lost the largest shares in China’s sneaker market to local competitors.