The news: Nike and Under Armour are leaning on star power to restore flagging sales in China and stay culturally relevant.

• LeBron James visited Shanghai and Chengdu last week as part of the Forever King Tour, which marked the 20th anniversary of his first visit to China with Nike.
• Steph Curry made an extended stop in Chongqing as part of his Under Armour-sponsored Curry Brand World Tour, which included a three-day “basketball culture convention.”

Why it matters: Both Nike and Under Armour are struggling to snap a losing streak in China. While some of that decline is due to the country’s economic challenges, the two brands are also being outmaneuvered by competitors—both local and international—that have been more diligent about keeping up with the needs of local consumers.

• Nike’s sales in Greater China fell 13% YoY in the 12 months ended May 31, 2025, while Under Armour’s Asia-Pacific revenues declined by the same percentage during the company’s fiscal 2025 (ended March 31, 2025). Their weakness is all the more striking given that sportswear has been one of the few bright spots in an otherwise sluggish consumer market.
• By contrast, Anta’s revenues have grown 5.3% YoY in the first six months of 2025, while Li Ning said in a preliminary H1 announcement that revenues rose 3.3% YoY.
• Adidas’ growth has been even more impressive, with Greater China revenues up 11% YoY in H1—which CEO Bjørn Gulden credited to its strategy of designing products locally, and with Chinese consumers in mind.

Our take: Nike's and Under Armour’s struggles in China show that brands can no longer expect to coast on their reputations to win over global customers—especially now, as US trade policies sour relations with even its closest allies.

• McDonald’s and Levi’s recently warned about the risks that rising anti-American sentiment poses to US brands, although they also noted that the trend hasn't hit sales yet.
• To avoid falling afoul of anti-US boycotts, companies must cultivate ties with individual markets. That includes taking a local approach to product development—as adidas has done to considerable success—as well as marketing campaigns.

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