In the 1990s, as the Olympic Games spread across China, Chinese people began to pursue sports brands. As a result, a large number of shoe factories that provide OEM services for Nike, Adidas and other sports brands were born in Jinjiang. Among these small shoe factories, there were later domestic sports giants such as Anta, 361°, Peak and Delhui.
But today, the fate of these domestic sports brands are different. Anta has become China’s The largest sports brand, with a market value of 130 billion, far exceeding its domestic peers. The other three companies are not very optimistic, especially Peak. As an existence that once rivaled Anta, it has now been almost forgotten.
Information shows that Peak was founded in 1989 and is a professional sports company integrating production, sales and promotion. It once had more than 5,000 stores in China and was exported to more than 100 countries overseas. In recent years, Peak has also developed in a diversified way. It has successively acquired the outdoor sports brand Ozark, the casual clothing brand Flagship King, and the children’s clothing brand “Dadi”, and has continued to strengthen its strength.
Throughout the 1990s, Peak developed very smoothly. With its excellent quality, Peak quickly entered many shopping mall channels and grew by about 200% every year. At that time, there was also a saying that “there is Peak in the south and Double Star in the north”. Peak can be said to be the well-deserved shoe king of Jinjiang in the 1990s. At that time, Anta was not Peak’s opponent.
However, the market is ever-changing and you will fall into the abyss if you are not careful. In 2011, domestic sports brands faced an unprecedented crisis. At that time, every brand was closing stores and discounting inventory. Peak even closed thousands of stores at one go. In fact, Peak was also left behind in this crisis. Its performance declined for three consecutive years, and it had no choice but to delist.
Some insiders have analyzed that blind rapid expansion and wanton store opening are the most fundamental reasons for Peak’s decline. . If Peak cannot find a new direction and breakthrough as soon as possible, it will eventually be forgotten.
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