Swiss sportswear firm Intersport enters China with plan for 100 shops

Intersport International Corp, the world's largest multi-brand sportswear retailer, plans to open its first shop on the mainland at the end of this month, confident market headwinds will not slow its expansion in the world's second-largest economy.

The Swiss company, which has more than 5,400 shops in 42 countries, will partner with Fujian-based department store operator New Huadu Supercenter to open up to 100 large-sized sports goods stores over the next five years. The first store will be in Fuzhou, the capital of Fujian province.

"We are taking a cautious approach to expanding in China, considering the adverse market conditions," said Ji Tao, a deputy marketing director of Intersport Fujian.

"But we will by no means shrink our expansion plan since we are eyeing mid to long-term growth in China."

The sportswear industry in the mainland has in recent years been plagued by excessive inventory, weak consumer demand and slower economic growth.

Last year, sportswear retailers including Li Ning, Anta, Peak and Xtep shut down at least 3,000 shops across the mainland after sales fell sharply. But Intersport is confident of winning Chinese consumers' hearts.

"China's sportswear market is undergoing a transformation. Consumers are gradually turning from buying casual wear when visiting a sportswear shop to looking for professional sports goods. That's our opportunity," Ji said.