Chinese private enterprises go global via sports
In the 2018 International Volleyball Federation (FIVB) Women’s World Championship that was held in Japan from September 29 to October 20, the Serbian women’s team seized the victory. The triangular logo of the Chinese sports brand Peak Sport on the shirts of each Serbian players particularly stood out, showcasing to the world the ambition of the Chinese sports brand in international sports. Peak Sport has been a closely contracted partner with several national sports teams for many years, including all the national teams of New Zealand at the Olympic Games in Rio in 2016.
Over the past decade, the “go global” strategy has been an important driver of China’s economic transformation, and has brought many Chinese companies into the international market. This trend is especially conspicuous in the overseas sports industry. One good example is in the 2018 World Cup in Russia. Seven Chinese enterprises sponsored the World Cup, with sponsorship fees of up to $835 million, accounting for nearly 35 percent of the total sponsorship deals signed for the quadrennial soccer event.
In addition to Peak Sport, other domestic brands are also busily putting investment to the overseas market. According to the official statistics of The Fédération International de Football Association (FIFA), the 2018 World Cup in Russia attracted an average of 815 million spectators per match. The trend for Chinese companies’ overseas expansion is being driven by the global success of companies such as Alibaba, JD.com, Huawei, Lenovo, Haier and Xiaomi.
The FIVB announced on its official website on October 15 about the signing of a partnership with a China’s leading mineral water company Ganter Water, in which Ganter will be responsible for supplying water to all FIVB events through 2022. Meanwhile, the Chinese company will sponsor the next edition of the Women’s World Championship in 2022. According to FIVB, the agreement also includes digital activations of the FIVB’s events as well as dedicated television and marketing campaigns focused on volleyball.
With the opening-up of the Chinese market and the rise of its economy, a growing number of Chinese brands are making a splash on the world stage. “Made in China” is no longer a byword for cheap labor, but a high standard of quality.
Serbian women’s team in Peak-sponsored uniforms hail their victory at the FIVB Women’s World Championship.