记者丨 贺泓源 编辑丨高梦阳 耐克跟邓紫棋签约了，这听起来奇怪又合拍。 近日，耐克宣布邓紫棋正式成为其旗下Jordan品牌的全球合作伙伴，这个title并不低。耐克认 为邓紫棋是个不断突破的人，从音乐人到出版小说，还担任自己巡回演唱会的总导演。这和 Jordan很搭。 背后是，耐克在巨大市场压力下，必须更深度地融入中国。 邓紫棋是一个恰当的落点。 今天，我们就来聊下，耐克的邓紫棋经济学。 大家好，我是小贺，欢迎收看本期消费参考。 首先，我们要看到，耐克确实在更深度地拥抱娱乐流量。在邓紫棋之前，耐克已签下了王嘉 尔，title是NIKE和JORDAN的全球合作伙伴。 背后是，在竞争激烈的中国运动市场，文娱明星确实越来越重要了。 此外，安踏品牌签约了王一博为全球首席代言人，FILA签下了杨幂与易洋千玺。 对比之下，耐克的代言人选择，没有完全倾向于流量，有着自己的价值判断。 事实上，与邓紫棋的合作，是耐克中国团队力推的。这也显示出耐克中国团队的话语权越来越 强。 这也体现在，近期耐克刷屏的"苏炳添与广东菜""200K"等品牌视频上。耐克的营销机制正变 得越来越灵活。 2021年，李宁签下肖战成为运动潮流产品全球代言 ...

Sirius XM - Sirius XM is currently facing challenges with a declining paid subscriber base and a year-over-year revenue decrease in Q3 2025, attributed to competition from popular streaming services [4] - The stock is trading at a low forward price-to-earnings ratio of 6.7, reflecting a significant 66% decline in stock price over the past five years [3] - Despite these challenges, Sirius XM has a strong business model focused on recurring subscription sales, with projected free cash flow growth of 22% from 2025 to 2027 and a dividend yield of 5.36% [5] Nike - Nike, a leader in the sportswear market, is undergoing a difficult turnaround, struggling with product innovation and recalibrating its distribution strategy [6][7] - The company reported a modest 1% sales increase in Q2 of fiscal 2026, alongside a concerning 32% decline in net income [8] - Despite current challenges, Nike's strong brand presence and strategic plans position it favorably for long-term success, making it a more attractive investment compared to Sirius XM [9]

21世纪经济报道记者 贺泓源 耐克跟邓紫棋签约了，这听起来奇怪又合拍。 近日，耐克宣布邓紫棋正式成为其旗下Jordan品牌的全球合作伙伴，这个title并不低。耐克认为邓紫棋是个不断突破的人，从音 乐人到出版小说，还担任自己巡回演唱会的总导演。这和Jordan很搭。 背后是，耐克在巨大市场压力下，必须更深度地融入中国。 邓紫棋是一个恰当的落点。 今天，我们就来聊下，耐克的邓紫棋经济学。 大家好，我是小贺，欢迎收看本期消费参考。 首先，我们要看到，耐克确实在更深度地拥抱娱乐流量。在邓紫棋之前，耐克已签下了王嘉尔，title是NIKE和JORDAN的全球 合作伙伴。 背后是，在竞争激烈的中国运动市场，文娱明星确实越来越重要了。 2021年，李宁签下肖战成为运动潮流产品全球代言人。宣布没多久，肖战的同款商品就销售一空。或许是带货能力太强了，在 2025年，肖战升级为李宁全球代言人，合作涵盖品牌全线产品。 此外，安踏品牌签约了王一博为全球首席代言人，FILA签下了杨幂与易洋千玺。 对比之下，耐克的代言人选择，没有完全倾向于流量，有着自己的价值判断。 事实上，与邓紫棋的合作，是耐克中国团队力推的。这也显示出耐克中国团队 ...

Brands Bottega Veneta COPENHAGEN, DENMARK - JUNE 08: Bartolomeo Rongone speaks during the panel talk ‘True Luxury: A Product Designed to Last Forever’ during Day Two of the Global Fashion Summit: Copenhagen Edition 2022 at Royal Opera House on June 08, 2022 in Copenhagen, Denmark. (Photo by Lars Ronbog/Getty Images for Copenhagen Fashion Summit) Luxury conglomerate Kering announced that Bartolomeo Rongone, chief executive officer of Bottega Veneta, will be leaving the group, effective March 31, to pursu ...

Core Viewpoint - Nike has announced a significant leadership change in its Greater China region, appointing Cathy Sparks as the new Vice President and General Manager, replacing Angela Dong, who will leave the company on March 31 [1][3][12]. Group 1: Leadership Change - Angela Dong has been leading Nike's Greater China operations for many years and will be succeeded by Cathy Sparks, a veteran with 25 years of experience at Nike [1][3]. - The leadership change is seen as a direct response to the need for "faster action" in the face of declining revenues and profits in the Greater China market, where revenue fell by 17% year-on-year and EBIT dropped by 49% in the latest financial report [3][12]. Group 2: Cathy Sparks' Background - Cathy Sparks has a long history within Nike, starting as a visual merchandising specialist in a Nike Town store in Portland in 1996 and gradually rising through various roles, including Retail Director for Asia Pacific and Latin America [4][5]. - Her experience includes significant roles in shaping Nike's global retail strategy and managing complex markets, which positions her well for the challenges in the Greater China region [5][10]. Group 3: Market Challenges - The Greater China market is currently facing intense competition from local brands, which have captured approximately 60% of the top 20 sports market share, and the demand for unique consumer experiences is rising [11][12]. - The new leadership is expected to focus on rebuilding momentum and reconnecting sports with culture in the market, indicating a shift from strategic and financial management to deeper market operations and consumer engagement [12][13]. Group 4: Future Expectations - Cathy Sparks' appointment signals a new phase for Nike in China, emphasizing retail fundamentals, local innovation, and the need for patience and execution in a complex market [13]. - The challenges ahead include balancing inventory management with brand value and adapting global strategies to local market conditions [12][13].

Core Insights - The article emphasizes the importance of integrating cultural symbols, sports spirit, core technology, and key market segments for brands to maintain a competitive edge in the market during the Year of the Horse [1][34] - The marketing strategies of various sports brands during the Year of the Horse are highlighted, showcasing their efforts to avoid homogenization and find a balance between cultural deconstruction and brand expression [5][34] Group 1: Cultural Significance of the Horse - The preference for the "Horse" symbol among sports brands is rooted in its rich cultural connotations and strong spiritual symbolism, representing speed, endurance, and success [2][4] - The Horse's image resonates deeply with consumers, making it an effective marketing symbol that connects emotionally and culturally [2][4] Group 2: Marketing Strategies - Brands are employing three main marketing strategies: cultural empowerment, emotional resonance, and product performance linkage [5][13] - Cultural empowerment involves leveraging traditional symbols and values associated with the Horse to create meaningful marketing narratives [5][7] - Emotional resonance focuses on connecting the Horse's spirit with consumers' experiences and attitudes towards life and sports [13][15] Group 3: Product Integration - Brands are integrating the Horse's imagery and spirit into their product designs, enhancing the emotional and cultural value of their offerings [4][9] - Examples include PUMA's "Puma Power" series and Anta's collaboration with Xu Beihong's "Galloping Horses" painting, showcasing a blend of traditional art and modern sports aesthetics [7][9] Group 4: Future Marketing Opportunities - The Year of the Horse in 2026 is anticipated to be a significant marketing opportunity, particularly with the integration of the Horse theme into marathon events [28][30] - The alignment of the Horse's symbolism with the endurance and spirit of marathon running presents a unique marketing angle for brands [30][32] - The potential for "Horse Year × Marathon" marketing strategies could lead to innovative product offerings and deeper consumer engagement [32][34]

Core Insights - The article discusses how international brands are localizing their narratives during the Chinese New Year, focusing on emotional connections with consumers and responding to cultural sentiments [1][21] - The theme of the Year of the Horse emphasizes finding one's own rhythm and state amidst societal speed anxiety, leading brands to shift from grand competitive narratives to promoting a "steady wins the race" philosophy [3][30] Brand Strategies - Nike has launched its "Breakthrough with Sport" campaign, emphasizing everyday life and emotional connections through sports, with its first TVC achieving over 10,000 views on social media [3][5] - Lululemon's short film "Spring, Renewed" features prominent figures to convey the idea of new possibilities in repetitive moments, aligning with the theme of spring [4][14] - The North Face celebrates its 60th anniversary with the "Exploration is Destiny" theme, hosting a three-day event that intertwines its brand history with cultural narratives [4][14] Cultural Engagement - Brands are moving beyond superficial cultural symbols to engage deeply with social and historical contexts, reflecting a shift towards micro-empathy in marketing narratives [21][26] - Nike's marketing resonates with the emotional pressures faced by modern adults, providing a "decompression zone" through relatable content [22][24] - Lululemon's focus on spring narratives over zodiac symbols highlights a unique differentiation strategy rooted in Chinese agricultural culture [28] Lifestyle Integration - The integration of sports into daily life is a key theme, with brands like Nike and On running campaigns that blend sports with everyday activities [29][30] - The shift from competitive urgency to emphasizing quality of life and sustainable values reflects broader trends in the sports industry [31][34] - The rise of low-pressure, high-experience sports like pickleball indicates a transformation in consumer preferences towards more accessible and enjoyable activities [34]

董炜 凯茜·斯帕克斯 1月21日，耐克公司公告称，现任大中华区董事长兼CEO董炜（Angela Dong）将于3月31日卸任。其职 位将由在耐克拥有25年零售经验的凯茜·斯帕克斯（Cathy Sparks）接替。 新帅登场，大中华区战略转向？ "零售实战派"或重新激活品牌 对于业界而言，董炜的离任显得颇为突然。资料显示，董炜是一位CFO（首席财务官）出身的本土化高 管，自2005年加入耐克，深度参与并领导了公司在华的快速扩张。在其任内，耐克通过赞助上海马拉 松、耐克高中篮球联赛（CHBL）等项目，在中国市场建立了深厚的品牌资产。 2024年10月，董炜刚刚被擢升为耐克大中华区董事长兼CEO，并兼任专业户外品牌ACG全球CEO。这 一任命在当时被广泛解读为耐克对中国市场及高速增长的户外赛道双重加码的明确信号。 "在耐克工作的二十余年间，她以其卓越的领导力、对市场和业务的深刻理解以及在应对复杂多变的挑 战中发挥的领导作用而著称。为此，对她为耐克在这个关键市场中谱写的诸多篇章所作出的贡献，我们 深表感激。"此次宣布离任，耐克对董炜的工作表现作出了较高评价。 然而，官方的赞誉与市场业绩形成了鲜明反差。根据最新财报，在 ...

While talks of a turnaround for Nike, Inc. ( NKE ) gained traction late last year, in mid-October I initiated the stock with a sell rating. I believed that Nike wasn't out of the woodsI'm a full-time investor with a strong focus on the tech sector. I graduated with a Bachelor of Commerce Degree with Distinction, major in Finance. I'm also a proud lifetime member of the Beta Gamma Sigma International Business Honor Society. My core values are: Excellence, Integrity, Transparency, & Respect. I always, to the ...

Core Viewpoint - Nike is currently undergoing a challenging reset, raising questions for investors about the sustainability of its dividend payouts amidst operational struggles [1][2]. Dividend Growth - Nike has a strong history of paying and increasing dividends, with an annual dividend growth from $0.16 per share in 2006 to $1.64 per share in 2026, reflecting an annual growth rate of over 12% [3]. - If Nike increases its dividend this year, it will join the Dividend Aristocrats, a group of S&P 500 companies that have raised dividends for 25 consecutive years [3]. Financial Performance - Despite current challenges, Nike generated over $2.4 billion in free cash flow over the past year, which comfortably covers its annual dividend obligation of approximately $1.7 billion [4]. - The dividend yield has increased to 2.4%, up from less than 1% in 2021 and the historical average of around 1%, reflecting a 63% decline from its all-time highs [5]. Turnaround Strategy - Nike is in the process of addressing multiple issues, including reliance on classic sneakers, a direct-to-consumer strategy that has alienated wholesale partners, and competition from emerging brands [10]. - The company aims to increase revenue from $46.3 billion to $58 billion, adjusted EPS from $2.16 to $4.22, free cash flow from $3.27 billion to $3.91 billion, and annual dividends from $1.57 per share to $2 per share [9].