The corona virus begins to affect the marks

The corona virus begins to affect the world of sports. From tournament cancellations and even affected players; The pandemic that is prevailing on the planet also begins to have an impact on the world of Sports Marketing. With no events and no public circulating in stadiums and stores, the losses of the brands are already billions.

According to a report by the Business Insider portal, Adidas and Puma have multi-million dollar losses in China. As Asia is one of the main markets for German brands, the current outlook on Chinese soil registers a drop between 6.8% and 3.8% for the three-strip company and its Teutonic pair, respectively.

Taking it to concrete numbers, the report mentions that Adidas would lose more than 1 billion euros in "Greater China", and that its operating profit would decrease by around € 500 million. As for Puma, the managers announced that they do not expect a prompt improvement and that the normality of their businesses should wait a longer time.

The other significant fact of this reality is that in addition to being Asia, the third market of importance for sales for brands, in these lands are the factories that make Adidas and Puma designs, which will begin to affect the distribution issue. all over the world.