(Yicai) Sept. 1 -- Despite the surging popularity of marathons and the cooling hype around sneaker resales, global sports brands such as Adidas, Under Armour, and Li-Ning continue to invest in China’s basketball shoe market, with at least 10 National Basketball Association stars visiting the country in recent months.

The marathon trend has fueled the rise of emerging brands such as Hoka and On Running, while major players, including Nike, Adidas, Anta, and Li-Ning, have shifted more focus toward running shoes. Still, basketball footwear remains a core business segment, Yicai learned.

Evidently, Adidas recently brought NBA star Anthony Edwards to China for his first promotional tour. Other Adidas-sponsored players, Jalen Williams and James Harden, also visited last month, underscoring basketball’s enduring appeal in the Chinese market.

Meanwhile, the global sneaker resale frenzy is losing steam. A report from sneaker trading platform StockX showed that only 47 percent of sneakers traded above retail price last year, down from 58 percent in 2020. Just a few years ago, limited-edition releases from Nike and Adidas would sell out instantly in cities from New York to Shanghai, with buyers reselling pairs at steep markups.

Li Xin, an experienced sneaker seller, said the cooling of the market reflects changes in consumer sentiment, as both exercise and spending habits evolve.

Qian Wei, executive director and joint chief executive of Li-Ning, acknowledged at the firm’s mid-year investor meeting that the basketball environment remains challenging.

Still, Qian emphasized the segment's importance: “We will continue to increase investment in sports resources for the basketball category because, as a comprehensive professional sports brand, basketball is an indispensable and representative sports category. It is crucial for the Li-Ning brand and also vital for the entire sports industry.”

Industry observers also note that basketball shoes often drive innovation. Wang Yilun, a sports brand consultant, said basketball footwear sets benchmarks for both technology and fashion. Even when the basketball shoe market declines, sports brands are still willing to invest in this area, Wang added.

Shoe seller Li highlighted that high-end basketball shoes showcase cutting-edge technologies and provide a competitive moat for brands. “The era of sky-high hyped sneaker prices may be over, which means prices are becoming more rational, and more people will be willing and able to buy them," Li said. "Of course, the prerequisite is that the giants come up with products that are attractive enough.”

Editor: Emmi Laine