Nike (NYSE: NKE) opened a flagship store in the heart of Beijing on Monday, underscoring the company's brand leadership in China, strong growth momentum in one of Nike's largest markets, and its rapidly expanding retail presence in more than 300 cities across the country.

"It's extremely exciting to open a flagship Nike retail presence in one of the world's great cities," said Nike brand President Charlie Denson, who was in Beijing for the store opening. "China is one of Nike's biggest growth opportunities, and one of the most dynamic retail markets in the world. Our Beijing flagship store creates a strong brand statement with a compelling world-class shopping experience. As we head toward the Olympics, we're extending our brand leadership, deepening our consumer relationships and building what we expect soon to be a $1 billion business and Nike's second-largest market in the world."

Nike athlete Liu Xiang, the world record-holder in the 110m hurdle and the first Chinese track-and-field athlete to win a gold medal, was on hand for the opening of the Nike store, located at Wang Fu Jing in one of Beijing's premier shopping districts. The approximately 13,000-square-foot-store features a full assortment of Nike product and is within walking distance of Nike-sponsored Dong Dan Park, one of the city's most popular playgrounds with multiple basketball courts and football pitches. FC Barcelona's two-time FIFA Player of the Year Ronaldinho, along with teammates Gianluca Zambrotta and Giovani Dos Santos, also made the Nike store opening one of their stops during the club's current Asia tour.

The Beijing store is the largest of approximately 3,000 Nike retail destinations now open in China. Nike is China's leading athletic brand, representing about a third of the market and significantly ahead of the nearest competitor. Nike leads the market in basketball and football (soccer) -- the two most popular sports among Chinese youth. Nike athletes such as Kobe Bryant and LeBron James are extremely popular in China, which is the most important basketball market in the world outside of the United States.

Nike has been doing business in China for more than 25 years, first sponsoring China's national basketball teams in 1980. For the Beijing ‘08 Olympics, Nike is sponsoring 22 of the 28 Chinese federations. At the 2004 Olympics in Athens, Nike sponsored 12 Chinese athletes who won gold medals.

(China.org.cn August 6, 2007)