Comment: Nike cutting online sales to China partners

研报英文原文证据摘录

Comment: Nike cutting online sales to China partners

22 July 2026

Aneesha Sherman +1 917 344 8457 aneesha.sherman@bernsteinsg.com

Jessica Tian +1 917 344 8413 jessica.tian@bernsteinsg.com

Jed Hodulik +1 917 344 8594 jed.hodulik@bernsteinsg.com

Nike’s top two distribution partners, TopSports and Pou Sheng, reported that Nike is actively reducing online sell-in to them in

China. Nike will eliminate online sales through distributor-operated storefronts beginning in January 2027. Topsports disclosed that Nike

online represents ~22% of their China revenue; for Pou Sheng it is ~15% of sales. Topsports CEO Yu Wu acknowledged that the change will

create "some short-term pressure to our business" but argued that "over the medium- to long-term, this direction will help promote a healthier,

more orderly, and more sustainable retail ecosystem in China, while further improving consumer experience and product appeal." Pou Sheng

suggested that the impact to profits will be “insignificant”. Both companies will continue to distribute Nike products through their networks of

thousands of physical stores.

This move is part of Nike’s efforts to clean up low-quality online sales in China. Both in their public comments over the last month and

during our Retail Forum earlier this month, Nike Mgmt described their effort to reduce low-quality, promo-driven sales in China, in an effort

to improve full-price sell-through and maintain Nike’s image as a premium, sport-led brand in China. Mgmt emphasized that Nike’s offline

sales will remain as is, including partner-owned doors, and that Nike.com online sales and official flagship online stores within marketplaces

such as Tmall, JD.com, and Douyin, will also remain unaffected. Cathy Sparks, Nike's VP and GM of Greater China, described the current