Overestimating market demand Li Ning Anta’s market value evaporated nearly HK $200 billion

According to the latest analyst report, due to overestimating the demand for sports shoes and clothing for the first time, domestic sportswear brands began to falter, Li Ning’s share price has fallen by more than 70% this year, Anta has also fallen by 29%, and the market value of the two leading giants has wiped out nearly HK $200 billion.

As international brands such as Adidas and Nike begin to change their pricing strategies to adapt to changes in consumption, domestic sportswear brands will face more severe challenges.

Seized! A factory that produces fake Nike and Uniqlo socks

On December 28, according to Vietnamese media reports:

Vietnamese authorities have just seized a factory in Dong Ying County that was producing counterfeit products from Nike, Uniqlo and many other major brands.

More than 10 machines on the factory’s hosiery machine production line were still operating at full capacity when authorities made a surprise inspection. The production process is fully automated, so it takes only a few minutes to weave the finished socks. Although the factory owner cannot produce a processing contract or any legal documents related to any of the major brands, countless counterfeit sock products from many protected brands are still produced here.

The owner of the facility was not present at the time of the inspection, but the video footage revealed all the illegal activities of the enterprise. Market regulators estimate the number of counterfeit socks to be tens of thousands of pairs. A large number of labels pre-printed with major brand logos were seized for the production of counterfeit goods.

Authorities estimate that if not detected, hundreds of thousands of pairs of fake socks of various brands will be smuggled into the market from the factory every month.

Smith Barney sells stores to Youngor for $40 million

Meibang Apparel recently announced that it will sell its stores located at No. 1-10101 Wanda Xintiandi, East Street, Beilin District, Xi ‘an, to Ningbo Youngor Apparel Co., Ltd. in a cash transaction, and the transaction price was finally determined by both parties through negotiation.

The group said that the move is aimed at expanding the global business development, preparing liquidity for supply chain investment, and continuously reducing liabilities by revitalizing assets.

Vans’ parent company has been hit by a cyber attack

VF Corp., which owns Vans, The North Face and other brands, recently disclosed a cybersecurity incident that disrupted operations. Its cybersecurity unit shut down some systems after detecting unauthorized access on Dec. 13 and hired outside experts to help contain the attack. But the attackers still managed to encrypt some of the company’s computers and steal personal data, which is expected to have a lasting impact on the business.

Source: Internet