Recently, the Jordan brand under Nike Group has had a big day in the Chinese market. The JORDAN WORLD OF FLIGHT Beijing (JORDAN Beijing Flight Flagship Store) opened in the North District of Sanlitun Taikoo Li, Beijing. This four-story top-tier flagship store is located next to the super-large multi-story flagship stores of LV and Dior in the North District of Sanlitun.
According to the introduction, WORLD OF FLIGHT is the latest offline retail store concept of the Jordan brand globally. This is the fourth Jordan brand WOF store worldwide, with the previous three located in Milan, Tokyo and Seoul respectively. At the same time, this is also the brand's first self-operated store in the Chinese market.
Just before the opening of this WOF Beijing store, Nike released its third-quarter financial report for fiscal year 2024 on March 22. The company's global revenue was 12.4 billion US dollars (approximately 89.6 billion yuan), with direct business revenue reaching 5.4 billion US dollars. The gross margin increased by 150 basis points to 44.8%, and inventory decreased by 13%.
In the Greater China region, Nike's quarterly revenue reached 2 billion US dollars, increasing by 6% year-on-year on a constant currency basis and maintaining growth for six consecutive quarters.
It is reported that Jordan has set a new record for six consecutive years in its share of Nike Group's global business, with the leading two markets being the North American market and the Chinese market.
Recently, Sanlitun has become a major battleground for sports brands. In the west area, the NIKE Beijing Brand Experience Store and the DESCENTE flagship store are located in the shopping mall that used to be the Ya Xiu Building. In the south area, along the street from east to west, there are Adidas, Lululemon and FILA, all of which are top global stores of these brands.
The products in this Jordan store are not exactly the same as those in the general Nike large stores' Jordan category or the Jordan Tmall flagship store. This store also has many "exclusive" products, including the latest Wings product series launched by the Jordan brand, which was globally launched on the opening day of WOF Beijing.
