When American basketball star Kyrie Irving visited Thailand in September, a first for an active player in the NBA, fans swarmed the Bangkok flagship store of his main sponsor, Chinese sportswear brand Anta.
Each piece purchased from Irving’s Anta collection guaranteed a ticket to his events at the store, with special perks for top spenders including a brief meeting with their hero. Dees, a Thai dance instructor in his 40s who described himself as an Irving “superfan,” came to the event with his friends, all wearing pieces from the collection.
“I’m Anta’s best customer,” Dees boasted to Nikkei Asia, saying he owned three pairs of Irving shoes, each priced at THB 4,990 (USD 148).
Anta has opened half a dozen stores in Thailand since the flagship venue in Bangkok last year, while also expanding its presence in the rest of Southeast Asia. It already has stores in Vietnam, the Philippines, and Malaysia.
The move is part of a growing trend among sportswear brands to tap a region considered to have better growth prospects than more mature markets such as China or the US. Sportswear sales for all brands in the region are set to grow from USD 7.5 billion this year to USD 10.1 billion in 2029, according to market research provider Euromonitor International.
As Southeast Asian consumers embrace physical fitness and casual dressing, newcomers like Anta and Li-Ning of China, American running shoe maker Hoka, and Swiss brand On are challenging global leaders Nike and Adidas.
The sportswear industry is looking to recover from inflation and overstock issues that began in 2023, with Euromonitor projecting global sales growth of 6.2% in 2024 and 6.4% in 2025.
“This is by far a better performance than the wider apparel and footwear industry, as dress codes around the world continue to casualize and consumers across generations take greater interest in being fit and healthy,” said Marguerite Le Rolland, industry manager for apparel and footwear at Euromonitor.
Anta’s global market share increased from 2.92% in 2022 to 3.38% in 2024, while that of market leader Nike dropped from 17.06% to 15.72%. Adidas has been on a similar decline. Anta raked in USD 4.7 billion in revenue in the first half of 2024, a 13.8% increase. Nike, meanwhile, saw its net income fall 28% in the past quarter, with declines in revenue from North America and Western Europe partially offset by growth in Asia so far this year.
Participating in sports that require less skill like pickleball, paddle, and running are gaining ground in Southeast Asia, while viewership for basketball, soccer, and tennis remains strong. Damien Yeo, consumer and retail analyst at BMI, a Fitch Solutions company, noted that “while sportswear subcultures like sneakerheads may be reaching saturation in markets like the US and China, the expansion of the trend in Southeast Asia has not reached the point of saturation.”
Chinese brands like Anta, which can cut costs by controlling its entire value chain, are well-positioned to win the loyalty of price-sensitive Southeast Asian consumers from prestige brands. The cheapest variety of Irving’s Shockwave basketball shoe with Anta can be bought for less than USD 100 in Thailand, while Nike’s Air Jordan retails from USD 127–230.
In the Philippines, the NBA’s second largest viewer base outside the US, “consumer brand loyalty is often tied to perceptions of quality and prestige, with global giants like Nike and Adidas still seen as top-tier choices. However, we’re seeing a shift,” said Anindhitha Maniath, senior research analyst for Southeast Asia at Euromonitor.
“Consumers in Southeast Asia are generally price sensitive, and affordability and value for money have been key factors,” she added.
Filipino entrepreneur Monti Comia is pragmatic when it comes to buying shoes, choosing to look at price and value, but pointed out that some consumers still consider athlete endorsements. “There are Filipinos who tend to perceive Western brands as more prestigious, but there’s also a growing appreciation for local and Asian brands that offer quality products,” he said.
Athlete endorsements lend “credibility and aspirational value” to brands, driving up consumer engagement, sales and brand loyalty. Nike’s Air Jordan, named after Michael Jordan, is the bestselling basketball shoe of all time. Its LeBron James collection has seen considerable success in Asia, driven by basketball’s popularity in markets like the Philippines and China.
“Despite signing deals with some NBA players in the US in the past few years, Anta still has not had its big breakthrough in Europe and the US,” Le Rolland said.
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Anta still trails Nike in its home market, but global brands are increasingly losing their edge in China. Local brands have a combined 60% of the Chinese market, according to the consultancy McKinsey, benefiting from the “guochao” trend, a form of consumer nationalism that prefers local brands.
Kyrie Irving sneakers are the third bestselling basketball shoes in China, with Nike’s Air Jordans ranking first. “Number three is not a bad place to be,” said Kyle Bowman, Anta’s director of global sales. “Southeast Asia is Anta’s second largest market after China. The third is the Middle East, and we just entered the US last year.”
But Chinese consumers are likely to remain constrained under tough economic conditions. “Anta still relies on China,” said Le Rolland, but it has pursued an “upmarket brand strategy with the acquisition of various established brands such as Salomon, Arc’teryx, and Wilson” that have more cachet with Western consumers.
This article first appeared on Nikkei Asia. It has been republished here as part of 36Kr’s ongoing partnership with Nikkei.