When Xi Jinping wore’parka’… Related apparel companies’ stock price jumped 10%

Chinese President Xi Jinping (second from right) visited a ski center outside Beijing on the 18th to check the preparations for the 2022 Winter Olympics. Xi wore Anta Group’s’Acterics’ brand waterproof coat, while the attendants wore Anta’s other brand’Anta Sports’. Beijing = Shinhwa Newsis-Chinese President Xi Jinping appeared on the 18th in a waterproof coat (parka) from Anta Group’s official sponsor of the 2022 Beijing Winter Olympics. . According to the Hong Kong South China Morning Post (SCMP), Xi wore a dark blue’Acterics’ parka while visiting a winter Olympics facility outside Beijing to check the preparation for the Olympics on the 18th. It was originally a brand belonging to the Finnish company Amer Sports, but in 2019 it was acquired by Anta Group called “Nike of China”. Arc’teryx products are usually sold in online stores for 700 to 2,000 dollars (about 800,000 to 2.2 million won). The products that President Xi wore are sold on the Internet for about 930,000 won.

Anta ranks third in the Chinese sports goods market with a 15% market share, following Nike in the US (23% market share) and Adidas in Germany (20%). Xi also appeared in 2017 wearing an hit jacket. The Chinese national team, which appeared at the 2018 PyeongChang Winter Olympics, also wore Hit products as a uniform. Analysis is raised that Xi has intentionally disclosed this image in order to support the local clothing company.

Reporter Jo Jung-yeop [email protected]