ERKE’s donation wins over buyers
Print Edition
Chinese consumers have found a novel way to express their gratitude to ERKE after the domestic sportswear maker promised to provide financial aid to Henan Province that has been hit hard by floods.
Last Wednesday, ERKE announced on its Weibo account that the company had donated 50 million yuan (US$7.7 million) to Henan for disaster relief.
As the news started trending on Weibo, netizens swarmed ERKE’s page, leaving over 280,000 comments, 9.57 million likes and 229,000 reposts by yesterday.
“Fifty million yuan is really a big number, especially for such a less popular brand,” a netizen commented, “More people need to know it.”
Founded in 2000 in Fujian Province, ERKE was listed on the main board of the Singapore stock exchange in 2005, becoming China’s first overseas listed sportswear brand. However, after the listing, the company’s expansion was not smooth. In 2015, it lost half of its production equipment in a fire.
With the rapid rise of other domestic brands such as Anta and Li Ning, Erke gradually fell behind in the competition.
According to Beijing Business News, Erke’s revenue in 2020 was 2.84 billion yuan, while in the same period, the revenue of Anta, Li Ning and 361 Degrees was 35.51 billion yuan, 14.46 billion yuan and 5.13 billion yuan, respectively.
Some netizens feared the company won’t be able to survive in the business after making such a huge donation and urged people to “pay more attention to ERKE’s products.”
In the following days, consumers flocked to ERKE’s online channels and offline stores to buy its products.
Footage uploaded online last Friday showed a man paying 1,000 yuan for goods worth 500 yuan and then running out of an ERKE store in Nanjing.
“I feel very warm in my heart that so many people are concerned about us,” said Wu Rongzhao, ERKE’S president. “We are not on the verge of bankruptcy and we will always stay true to ourselves.”
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