Page 16 - Ivan Su News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Nike and Adidas saw their online sales plummet in China over the Xinjiang cotton boycott insider@insider.com (Mary Hanbury) Online sales of Adidas and Nike products at Alibaba's Tmall plummeted in April. These sportswear brands are being targeted in a consumer boycott in China against western brands Meanwhile, Chinese athleticwear brands are "reaping" the benefits, according to Morningstar. Popular Searches According to a note from Morningstar analyst Ivan Su, online sales of Adidas and Nike products on Alibaba's Tmall platform fell by 78% and 59% respectively year-over-year ...

Western brands, Nike and Adidas saw a principal decrease in sales in China. The sudden decline in the marketability of the sportswear companies was borne out of the Chinese consumer's call to boycott them after they accused the Xinjiang region of producing cotton by forcing the Uyghur people into labor. German researcher Adrian Zens has claimed that slavery exists in the autonomous region. The satellite imagery shows that the textile factories are placed near the "re-education sites." However, Beijing kept on refuting the claims after stating that the "move" was a part to alleviate poverty in...

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