Page 246 - 2023 White Paper on the Business Environment in China
P. 246
3 White Paper on the Business Environment in China
China’s sportswear industry also saw a very founder of Bio-Everyday, reported in 2022 that they
successful year. Chinese-made sportswear is now will “begin providing probiotics (which promote
becoming very popular among the young people health when taken) that are especially suited
of China, and they are beginning to choose for Chinese consumers.” Bio-Everyday was first
these local products over international brands. marketed to female shoppers between the ages of
This trend was propelled by the 2022 Olympic 25 and 40 who were conscious about their health.
Winter Games and is now a major contributor However, in order to increase its demographic, it
to the country's economic growth. ANTA Sports began offering a set of probiotics for both children
announced in March that its revenue in 2021 and adults, including the elderly. In addition, Bio-
had hit 49.3 billion RMB, a 38.9 percent year-on- Everyday established a laboratory in partnership
year increase. According to Euromonitor, ANTA with the Wuxi Special Food, Nutrition and Health
Sports had a 16.2 percent market share of China's Institute and Jiangnan University. The lab developed
sports footwear and apparel in 2021, surpassing the first beneficial probiotic strain sanctioned for
Adidas’s 14.8 percent and coming close to Nike's use. The firm plans to persist in researching and
25.2 percent – the highest market share of all of developing new strains as well as improving the
them. The rise of these domestic brands provides technology levels in the domestic medical sector
a “rosy outlook of China’s sportswear industry in to remain competitive amid mounting rivalry (Ran).
the long term” (Xinhua).
Works Cited
Florasis, a Chinese cosmetics company that has
skyrocketed in fame in the past five years, both Booker, Avery . “Luxury Brands Face A New Retail
in China and abroad, is a prime example of the Dilemma In China.” JingDaily.com, 25 August 2022,
changes in appearance of Chinese brands. It was https://jingdaily.com/retail-dilemma-china-pla-
founded in 2017 in Hangzhou, Zhejiang province's za66-hainan/.
capital, with the aim of reviving traditional Chinese
beauty and culture. Florasis has since rolled out a Gentlemen Marketing Agency (2022). Guide to
series of acclaimed products, like etched lipsticks Most Popular Chinese Social Media Sites & Plat-
and powdered makeup with flower extracts and forms for Marketing, https://marketingtochina.
Chinese herbs. Meng Huo, the Vice President of com/top-10-social-media-in-china-for-marketing/.
Florasis, commented, "Our company caters to
female Asian customers with different cosmetics Guinebault, Matthieu. “Alibaba: the Lux-
suitable for their skin, providing mid and high- ury Pavilion between metaverse and "live
end goods to meet their expectations, as well as shopping" to seduce Chinese millennials”,
incorporating Chinese cultural elements to capture FashionNetwork.com, 10 Nov. 2022, https://
their attention” (Ran). us.fashionnetwork.com/news/Alibaba-the-lux-
ury-pavilion-between-metaverse-and-live-shop-
Back in 2019, statistics from AliResearch ping-to-seduce-chinese-millennials,1457553.html.
revealed that Chinese brands accounted for 72
percent of the merchandise sales on Alibaba’s Gunasekaran A., Marri H. B., McGaughey R. E.,
retail platform. In 2022, there were notable Nebhwani M. D. (2002). E-commerce and its impact
growth rates for pharmaceutical health, beauty on operations management. Int. J. Prod. Econ. vol.
and personal care products, and food, drink items 75, pp. 185–197.
– 38.5 percent, 36.7 percent, and 31.5 percent
respectively. One of those brands, Yongpu Coffee, Pan, W., Pan, C., Pan, T. “Metaverse in China: Be-
which was founded in 2014 as a response to ware of these Potential Legal Issues.”, 11 May 2022,
consumers wanting to look good and enjoy life, https://www.goodwinlaw.com/publications/2022/0
saw sales spike after introducing an instant brand 5/05_11-metaverse-in-china.
of its coffee in 2022 (Ran).
Ran, Yu. “Domestic brands rapidly raising their
And, finally, another strong domestic brand, Bio- game.” ChinaDaily.com, 17 August 2022, https://
Everday, is set to lead a bio-revolution. Yang Rui, co-
246
China’s sportswear industry also saw a very founder of Bio-Everyday, reported in 2022 that they
successful year. Chinese-made sportswear is now will “begin providing probiotics (which promote
becoming very popular among the young people health when taken) that are especially suited
of China, and they are beginning to choose for Chinese consumers.” Bio-Everyday was first
these local products over international brands. marketed to female shoppers between the ages of
This trend was propelled by the 2022 Olympic 25 and 40 who were conscious about their health.
Winter Games and is now a major contributor However, in order to increase its demographic, it
to the country's economic growth. ANTA Sports began offering a set of probiotics for both children
announced in March that its revenue in 2021 and adults, including the elderly. In addition, Bio-
had hit 49.3 billion RMB, a 38.9 percent year-on- Everyday established a laboratory in partnership
year increase. According to Euromonitor, ANTA with the Wuxi Special Food, Nutrition and Health
Sports had a 16.2 percent market share of China's Institute and Jiangnan University. The lab developed
sports footwear and apparel in 2021, surpassing the first beneficial probiotic strain sanctioned for
Adidas’s 14.8 percent and coming close to Nike's use. The firm plans to persist in researching and
25.2 percent – the highest market share of all of developing new strains as well as improving the
them. The rise of these domestic brands provides technology levels in the domestic medical sector
a “rosy outlook of China’s sportswear industry in to remain competitive amid mounting rivalry (Ran).
the long term” (Xinhua).
Works Cited
Florasis, a Chinese cosmetics company that has
skyrocketed in fame in the past five years, both Booker, Avery . “Luxury Brands Face A New Retail
in China and abroad, is a prime example of the Dilemma In China.” JingDaily.com, 25 August 2022,
changes in appearance of Chinese brands. It was https://jingdaily.com/retail-dilemma-china-pla-
founded in 2017 in Hangzhou, Zhejiang province's za66-hainan/.
capital, with the aim of reviving traditional Chinese
beauty and culture. Florasis has since rolled out a Gentlemen Marketing Agency (2022). Guide to
series of acclaimed products, like etched lipsticks Most Popular Chinese Social Media Sites & Plat-
and powdered makeup with flower extracts and forms for Marketing, https://marketingtochina.
Chinese herbs. Meng Huo, the Vice President of com/top-10-social-media-in-china-for-marketing/.
Florasis, commented, "Our company caters to
female Asian customers with different cosmetics Guinebault, Matthieu. “Alibaba: the Lux-
suitable for their skin, providing mid and high- ury Pavilion between metaverse and "live
end goods to meet their expectations, as well as shopping" to seduce Chinese millennials”,
incorporating Chinese cultural elements to capture FashionNetwork.com, 10 Nov. 2022, https://
their attention” (Ran). us.fashionnetwork.com/news/Alibaba-the-lux-
ury-pavilion-between-metaverse-and-live-shop-
Back in 2019, statistics from AliResearch ping-to-seduce-chinese-millennials,1457553.html.
revealed that Chinese brands accounted for 72
percent of the merchandise sales on Alibaba’s Gunasekaran A., Marri H. B., McGaughey R. E.,
retail platform. In 2022, there were notable Nebhwani M. D. (2002). E-commerce and its impact
growth rates for pharmaceutical health, beauty on operations management. Int. J. Prod. Econ. vol.
and personal care products, and food, drink items 75, pp. 185–197.
– 38.5 percent, 36.7 percent, and 31.5 percent
respectively. One of those brands, Yongpu Coffee, Pan, W., Pan, C., Pan, T. “Metaverse in China: Be-
which was founded in 2014 as a response to ware of these Potential Legal Issues.”, 11 May 2022,
consumers wanting to look good and enjoy life, https://www.goodwinlaw.com/publications/2022/0
saw sales spike after introducing an instant brand 5/05_11-metaverse-in-china.
of its coffee in 2022 (Ran).
Ran, Yu. “Domestic brands rapidly raising their
And, finally, another strong domestic brand, Bio- game.” ChinaDaily.com, 17 August 2022, https://
Everday, is set to lead a bio-revolution. Yang Rui, co-
246
