Sales of brands like Adidas and Puma have fallen because of the Coronavirus outbreak. Adidas’s business activity in Greater China has been around 85 per cent below previous year level since the Chinese New Year on January 25. The brand has faced a significant number of store closures in its network of 500 owned stores and 11,500 franchises in China, while fewer people are shopping at those which remain open. The group’s Greater China region, which includes Taiwan and Hong Kong, has for years been one of the fastest-growing areas of the world for Adidas sales.

Puma’s business in China has been heavily impacted due to the restrictions and safety measures implemented by the authorities. More than half of its own stores and partner outlets are closed at the moment. Puma’s business in other markets, especially in Asia, is also suffering from lower numbers of Chinese tourists. But the company expects the situation to normalise in the short term, keeping it on track to achieve its full-year targets.

Both Adidas and Puma are German sportswear makers. Adidas is celebrating 70 years. In India the brand has a very strong business in football and a very strong business in running. Puma has increased its sales by 84.4 per cent in the last ten years. In the same period, the company’s profit has exploded 72.2 per cent.