Science in Sport expands into China ahead of Singles Day
Singles Day, the Asian country's equivalent to Black Friday, occurs on November 11 and was responsible for almost £20bn of sales last year.
SIS will retail 27 products through the Alibaba’s TMall Global Store, China’s leading and rapidly growing cross-border B2C marketplace.TMall Global Store has 576 million active consumers and a 25 per cent market share in China. The move gives SIS access to a rapidly growing sports and fitness market which is predicted to exceed $725bn in value by 2025, more than triple the $216bn it was worth in 2016.
SIS already sells its endurance products in over 100 countries, with key markets in the UK, Italy and USA. More than half of SIS products are sold through online channels including its own website.Revenues have grown by 24 per cent on a compound basis since 2016 and SIS continues to invest in developing its range. The company has sponsorship deals in place with USA Cycling, British Cycling and Manchester United.
Stephen Moon, chief executive of SIS, said: "Through TMall we now have access to one of the fastest growing markets in a low risk way."It extends our reach to an enormous, young consumer base where fitness is a priority and is being promoted by the Chinese government. Our products appeal to elite and endurance athletes globally and we will continue to forge partnerships to build our brand, expand geographically to reach customers and provide retail channels to enable purchase and use. "We are confident that our strategy will deliver consistently rapid sales growth in years to come."