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Intersport, a sporting goods retailer, is almost stagnant
Intersport, a leading global sporting goods retailer, has experienced a slow pace of growth in its Chinese market. While the company reported strong performance in other regions, its expansion in China has lagged behind expectations. In 2014, Intersport achieved a 2% year-on-year increase in global sales, and its first-quarter results for 2015 showed an impressive 8.4% growth—both the best performances in recent years. However, this success hasn't translated into rapid development within the Chinese market.
The Beijing Commercial Daily recently reported that Intersport opened its first three stores in China in 2013, but as of now, it only operates nine locations nationwide. According to a strategic partnership signed with Fujian Xinhuadu Shopping Plaza Co., Ltd. in March 2012, the company aimed to open between 80 and 100 stores across ten southern provinces over five years. This ambitious target, however, seems difficult to achieve given the current pace.
Even after opening three stores in 2013, the fourth store was delayed by nearly a year. It wasn’t until June 2014 that Intersport expanded beyond Fujian, opening a new location in Wuxi Yijia Huiju Shopping Center. As of now, the brand's official website lists only nine stores in China. To meet its goal of 100 stores in five years, Intersport would need to open approximately 35 new stores annually from now on—an ambitious challenge.
In addition to physical retail outlets, Intersport has also launched e-commerce initiatives through flagship stores on JD.com and Suning. However, online sales remain underwhelming, with most stores reporting single-digit or low double-digit sales figures. This suggests that the brand is still struggling to gain traction in one of the world’s largest consumer markets.
With Decathlon continuing to expand aggressively in China, Intersport may need to accelerate its efforts to maintain a competitive edge. The company must not only increase the number of physical stores but also improve the performance of its existing locations and online platforms to meet long-term growth goals.