On March 9, basketball star Kyrie Irving (hereinafter referred to as Irving)’s first-generation signature sneaker ANTA KAI 1 after signing with Anta was fully released in China, North America, Southeast Asia, the Middle East and other regions, indicating that Anta has taken a step toward brand globalization. A critical step in the process.
It is reported that as the spokesperson and chief creative officer of ANTA Basketball, Irving has maintained close communication with the ANTA Basketball design team since signing the contract, and has led the entire appearance creativity, product technology and design concept of ANTA KAI 1. Sales of ANTA KAI 1 are also very hot. On March 10, a reporter from Securities Daily discovered that the official selling price of this sneaker was 899 yuan per pair, but the price on third-party platforms had risen to several thousand yuan, making it hard to find a pair.
Priced at 899 yuan
We hope to provide products with a high sense of value as much as possible
With the popularity and commercialization of basketball, basketball shoes, as essential equipment for athletes, have also become a symbol of fashion and culture. In order to meet the needs of different consumers, major sports brands have launched co-branded models, limited editions and other special products. Among them, sneakers jointly designed with basketball stars have attracted much attention.
In July 2023, the Chinese sports brand Anta announced a formal contract with Irving. Moreover, Anta’s cooperation with Irving is multi-faceted, including the launch of joint and branch products around his personal product line, involving on-court equipment and off-court lifestyle wear. Take a ride and wait.
The price of sneakers co-designed by sports brands and basketball stars varies depending on the brand, star, design and other factors. Generally speaking, the price of co-branded shoes will be much higher than ordinary shoes, but the specific price depends on the material, craftsmanship, limited edition and other factors of the shoes. But the influence of the brand is one of the important factors that determine the price of sneakers. Well-known brands such as Nike, Adidas, and Jordan have relatively high prices for their co-branded shoes due to their long brand history, large market share, and high consumer recognition. In addition, the popularity and influence of basketball stars will also have an impact on the price of sneakers.
However, the price of ANTA KAI 1 is still less than a thousand yuan. Regarding this, Zhu Chenye, vice president and CMO of ANTA brand, said in an interview with a reporter from Securities Daily: “As you can see, a pair of star shoes on the market now easily costs thousands. Yuan or more. We hope that the pricing will be consistent with Anta’s overall brand strategy, focus on mass positioning, and provide consumers with high-value products as much as possible. In addition, we respect Irving’s own wishes. He hopes that these shoes can allow more consumers to It’s affordable, and we finally set the price at 899 yuan.”
“We will definitely keep up with the production capacity in the next few months. We will not make special limited editions or deliberately raise prices. This is definitely not what a brand with mass positioning does. Of course, there will be some special colors. Or make some special versions. But we will insist on making products that are targeted at the public.” Zhu Chenye said.
Use basketball shoes to leverage the international market
Taking an important step towards globalization
As one of China’s leading sporting goods brands, Anta’s globalization strategy is not only reflected in the expansion of product lines, but also in the spread of brand culture, the optimization of market layout, and the deepening of international cooperation.
In terms of product line expansion, ANTA keeps up with global sports trends and continuously launches products that meet the tastes of international consumers. Whether it is basketball shoes, running shoes or sportswear, ANTA integrates the latest technology and design elements into them to provide consumers with high-quality sports equipment. In the dissemination of brand culture, Anta focuses on the integration with international culture. By sponsoring international sports events, cooperating with international sports stars, and opening overseas flagship stores, it enhances the visibility and influence of its brand in the international market.
In addition to consolidating its position in the domestic market, Anta has also extended its sales network to all parts of the world. By cooperating with local dealers and opening online malls, we continue to expand market share and improve the brand’s competitiveness in the global market.
Anta stated at the Investor Exchange Day held on October 17, 2023 that in the next three years, it will focus on the mass professional sports track, focusing on the core strategy of “professional breakthroughs, brand improvement”, focusing on breakthroughs in core categories such as running and basketball. Increase investment in innovation and digitalization, with a compound growth target of 10% to 15% in brand sales (terminal sales scale) in the next three years.
Yang Dayun, CEO of Uta International Brand Investment Management Co., Ltd. and a fashion industry investor, told a reporter from Securities Daily that if Chinese sports brands want to achieve a certain revenue scale, they must consider the global market. For Anta, the global market is still an incremental market. Anta’s previous overseas market share was not high, so there is still a lot of blue ocean market space for it to compete.
At the same time, Chinese sports brands face many difficulties when going overseas. “On the one hand, Chinese sports brands are relatively less well-known in the international market, and they need a lot of publicity and promotion to enhance brand awareness. On the other hand, there are the challenges of cultural differences, the cultural backgrounds, consumption habits of different countries and regions, etc. There are big differences, and brands need to have an in-depth understanding of the local market and develop marketing strategies that meet the needs of local consumers.” Zhu Keli, executive director of the China Information Association and founding director of the Guoyan New Economic Research Institute, told a reporter from Securities Daily.
(Source of article: Securities Daily)
Source of article: Securities Daily
Author of the article: Xie Lan and Liang Aonan
Original title: ANTA accelerates its globalization process and uses basketball shoes to “leverage” the international market
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2024-03-10 13:39:48
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