and you know there are some lessons no doubt that every brand can learn from the experience of adidas nike h. and m. and no doubt many others in terms of do we change our approach in the chinese market or do we leave china altogether for the time being or invest less but it is certainly important that companies appreciate that you can't just go into an overseas market be it china the u.s. other places without doing your homework and really understanding the implications and these are playing out right now in real time and they will have a very serious consequence for these brands outside of china as well unless they do something all right fascinating to watch develop. c.e.o. of international marketing partners in london thank you as always thank you and we're going to shift gears and go into africa one year into the pen demick experts continue to warn that the coronavirus is deepening the digital divide around the globe while developed countries have hastened the shift to the digital economy and they bring more and more high speed internet connections 40 percent of the world's population i

and you know there are some lessons no doubt that every brand can learn from the experience of adidas nike h. and m. and no doubt many others in terms of do we change our approach in the chinese market or do we leave china altogether for the time being or invest less but it is certainly important that companies appreciate that you can't just go into an overseas market be it china the u.s. other places without doing your homework and really understanding the implications and these are playing out right now in real time and they will have a very serious consequence for these brands outside of china as well unless they do something all right fascinating to watch develop. c.e.o. of international marketing partners in london thank you as always thank you and we're going to shift gears and go into africa one year into the pen demick experts continue to warn that the coronavirus is deepening the digital divide around the globe while developed countries have hastened the shift to the digital economy and they bring more and more high speed internet connections 40 percent of the world's population i

number of h&m stores in china were reportedly closed by authorities and the smartphone apps for adidas, nike and other stores were blocked. p were concerns about human rights abuses. chinese social media began circulating that statement you just saw from h&m on that matter. a statement that was issued last year, it sparked a movement to boycott the brands in question. the u.s. and the eu he -- earlier, i spoke to our marketing expert about whether more brands could take a stand in china over human rights standards. >> consumers in the west of the brands they purchase from is that those brands do take a stand, that they do have this policy and societal governors. there is no that expert -- expectation that bnds speak up , ceos speak up. i do think that some brands will forfeit that temperature i really -- temporarily to make a statement about working conditions and i think that is actually progress, this level of transparency because of soci media means all of us as consumers can now apply that pressure and scrutinize what companies do. monte: thank you. that is it for now, stay tuned for mor

. >>> adidas, nike, the latest u.s.cused of serious human rights abuses. the chinese media, singling out h&m for comments made about the situation in shinzhen. china internet etf, i-shares china etf, down 8 and 4% respectively. bring in the closer, tom lyden, lyden,etf trend. a lot of investors love exchange traded funds, etfs, the best way to play a group. china seems to be a problem for etf investors? >> they have actually done pretty well, especially following up with the press conference with biden, china is under the radar for sure. china has not backed off on trade tariffs. that is probably a good sign. in addition as you point out some labor news that is a scare as well, cheryl. but one of the big news items yesterday was also the fact that the sec is looking at chinese companies and the fact they're not necessarily adhering to u.s. accounting standards. this came up a few months ago but with a new sec chair, you might get a little more serious on it. they start delisting some of these chinese companies from u.s.

. —— adidas, nike. the list is growing and growing.rover may be, burberry, other prominent firms, will they be next on the list in terms of china using its economic clout to put pressure on as well? thank you very much. stay with us on bbc news, still to come: no success yet in efforts to dislodge this giant container ship stuck in the suez canal — meanwhile, dozens of vessels remain in limbo. i'm so proud of both of you. let there be no more wars or bloodshed between arabs and israelis. with great regret, the committee have decided that south africa be excluded from the 1970 competition. chanting streaking across the sky, - the white—hot wreckage from mir drew gasps from i onlookers on fiji. this is bbc world news, the latest headlines: a virtual summit has ended with european union leaders emphasising their wish to make sure the eu gets its fair share of coronavirus vaccines. the challenges at the us—mexico border have taken centre stage atjoe biden�*s first presidential press conference. at least five people have been killed in nort

and you know there are some lessons no doubt that every brand can learn from the experience of adidas nike h. and m. and no doubt many others in terms of do we change our approach in the chinese market or do we leave china altogether for the time being or invest less but it is certainly important that companies appreciate that you can't just go into an overseas market be it china the u.s. other places without doing your homework and really understanding the implications and these are playing out right now in real time and they will have a very serious consequence for these brands outside of china as well unless they do something all right fascinating to watch develop. c.e.o. of international marketing partners in london thank you as always now to some of the other global business stories making headlines the u.s. and britain have announced sanctions against 2 military own companies in myanmar both businesses are involved in industries as diverse as beer tobacco tirzah and banking the aim is to drain the military sources of funding amid the ongoing crew in the country. a team of experts fro

our list of topics and go to china where western brands including nike him and adidas are increasingly under fire following their prior statements on forced labor in change when they resurfaced in public now each company had previously voiced concern over abuse allegations allegations that have been thoroughly documented activists riposte of those statements this week after the e.u. and us imposed sanction sanctions rather on chinese officials due to this change on abuses nike is trending on social media in china but not in a good way it's facing a backlash after a statement on china's policies in the change young province saying it won't use cotton from the region. and it's not alone its nemo singled out this week for issuing a statement last year in which it said it was concerned about allegations of forced labor engine john both edging them annika statements haven't been received well by people in china. to let him back to nigeria's chinese we must show our patriotism i don't buy these brands and now i will ask my friends to boycott them too. to come on the scene those foreigners ma

nike, adidas, and h&m are some of the brands cut up into blue medic runs between china and the u.s., facing consumer boycotts in china because of comments of human rights abuses in the country. the chinese minister of commerce says but he avoid politicizing business. reporter: nike and h&m are feeling the heat in china. some of the country's most popular e-commerce platforms, dropping this wish retailer. celebrities have canceled contracts with the brands. consumers are boycotting them. >> [speaking native language] >> [speaking native language] reporter: at the heart of this, statements addressing allegations of forced labor and sean junk. -- in sean john. it is one of the world's top producers of cotton. it supplies many clothing brands with textiles. some firms have set to distance themselves from the region's cotton, angering china. >> [speaking native language] reporter: china was the only major economy to expand last year. sales losses there could hurt western demand at a time when it remains weak. greater china is also among 90's fastest growing region -- nike's fastest growin

adidas. jonathan: here we go. you know what he is starting here, don't you? [laughter] tom: whether it is i did this or nike adidas or nike, is it retail store debt? romaine: they think the retail, brick-and-mortar model is alive and well, if that is not all you do. nike has been that. many of those have already reopened. that a popular brand. we heard from burlington, formerly ellington coat factory, a company that has basically no e-commerce presence, and they've done well during the pandemic. tjx has done well on the brick-and-mortar side. you don't necessarily have to be an e-commerce company. tom: do you see he talks differently when he wears a tie versus a bowtie? can you tell the difference? jonathan: i can. romaine: i have more energy. do you know how much time it gets me -- it takes me to get that bowtie tied? jonathan: you are there for those nike numbers, and i think you are going to see more of this. how much more do we anticipate in the months ahead? romaine: if you are talking about the supply, this is a big issue here. right now, the general consensus is this could drag on until the summer mo

fitness apparel, and, you know, you get a sense that that was coming anyway they'll partner with adidas or nike or other types of apparel companies in the sports world, and maybe they'll go into some sort of broadcasting maybe there will be peloton-based media products i think it is a platform from which they can expand, and they've made very smart acquisitions and moves so far. you know, we believe that that will be true in the future all of these companies, if you are a growth investor, you have to think about at what price you are willing to pay for them. you know, zoom is one of them. teledoc, through amwell, you saw that it is a small name but we had a price target if you look at trade desk or mongo dbds, they're all great companies but at the prices they were ridiculous. we talked about that on the show many times, that 30 times sales, you know, you got to go, whoa, that's crazy but with this one, we had a price and there we are. >> in some cases even more in terms of the times sales i'm just looking at some of the stocks for example, you know, teledoc is 42% off its all-time high i don't

about inflated stock prices and excessive leverage in the system add to that, backlash against nike and adidas against chinese media big issue is whether chinese companies will open the books to chinese regulators who have resisted turning over data largely because of sensitivity around the banks, energy and industrial companies they don't want to open the books to the u.s. government aggregations because then the agencies would know what subsidies these companies are getting from the chinese government >> i saw trade in regular hours trade 17 million someone's definitely liquidating shares of some chinese companies and other companies, huge trades in viacom as well. someone is getting out of position. >> that's it bob, by the walk loved your cheese steak piece the other day. bk, do we have any idea who is shopping these big blocks? maybe grasso could chime in. >> no. listen, i don't have any insight on that, except to say the size of the blocks were a lot larger than the 13 f reporting out there. so it is either a group together, getting out, or somebody that hasn't filed a 13f yet. it's very

nike, adidas and zara facing backlash from beijing after speaking out for what's right and human rights news this morning, southwest airlines reaching a deal to buy 100 boeing 737 max jets with the first 30 of the aircraft to be delivered in 2022. as part of this agreement, southwest will also add 155 max options for max 7 and max 8 aircraft through 2031. taking a look at shares of boeing this morning and southwest, as you can see, they're both higher, boeing shares up better than 3% on that big deal. time for the word on wall street, top investors watching your money this week. joining me right now, joel space shulman, michael lee and scott sheledy. great to see everybody this morning. scott, look at commodities here, oil is back above $61 a barrel as we see progress being made at the suez canal. workers partially freed up that blocked cargo ship which closed off trading for nearly a week, keeping more than 300 ships from passing through. this is billions of dollars in global trade getting affected, scott. we'll see if this actually is unleashed and out of the way later today, fully, b

. >> you look at the companies affected nike, adidas, these are the company set up in the social justice years on the american landscape or a long time. this is a moment where they get a put up and say we mean and we will put our checkbook on the line and you know they will and it'll be interesting to see if all of the celebrity endorsers andnd athletes who have gone on the social justice bandwagon, if the company takes a hit will they be willing to take a hit. >> this is part of the a conversation. >> what was the final thought with mba one of them attacked china. >> darrell maurice said i have a problems of what's going on with hong kong. larry: doesn't the nba run china in mba rights. >> they just signed a new contract with state tv in china. this is the problem, yet the nba working with the state and the state is dictating terms to that. larry: you talk about a time for mpchoosing, it is a time for choosing but what is so interesting the companies in america who have made thet strongest case on social justice who are in the hot seat, they get to prevent now. larry: where are the big

it's not just h & m, it's nike, adidas, burberry, a host of big western brand names.t you to listen to these angry chinese consumers in beijing and how they support the boycott. take a listen. >> reporter: we should boycott them and let them know that china is not a country to be trifled with. >> translator: i resist any brand that has any bad comments about ore moreland. >> translator: this is our country. they should get out of china. we can choose not to use it, not to wear t it is not necessary for us. >> translator: i think you should respect our country. they won't have a future here if they try to smear china. >> now, xinjiang is a major point of friction between china and western powers. it was in december when the united states announced that it would ban the import of cotton from xinjiang over forced labor concerns. in the past week we have seen the eu, the uk and the united states put sanctions on chinese officials over human rights in xinjiang and china has retaliated, slapping sanctions on eu accusing them of spreading lies and misinformation. >> thanks s

it always switches back and forth between nike and adidas and i would say lately nike has had it the for the u.s. foot wear in north america show adidas fell about 90 basis points to 9.5% market share last year. >> yeah, and the peloton stuff will be really interesting to see when they get to those details particularly the level of exclusivity as you were alluding to because there are various deals it seems already out there. i think he teased us, not far away march 18th i think he said for the details of that. >>exactly. i thought you were going to comment on europe doing a bad job on the vaccine he was very blunt on that except for the uk of course. >> but understandable comment. we've discussed that before. you just have to look at the charts, the numbers still well behind the u.s. and uk roll out. glad arsenal didn't come up this time because it wouldn't have been a good comment >> i wouldn't do it to you again. >> yeah we've done it before still to come the maker of purell the hand sanitizer saw massive demand amid the kri coronavirus pandemic and now looking ahead to life after

adidas lost shares is and according to the mpd group they lost share down to 9.5% market share, and while we did see enthusiasm for athleisure, and the growth of nike and lululemon and even the competitor puma managed to outgrow adidas, and what rorsted is saying that they are going to refocus and getting rid of reebok, and consolidating with the strategy around sports and getting rid of the extraneous categories like field hockey and focusing on basketball and running and three core geographies with north america and china and europe, and that is what the core strategy is. but it comes down to who has the it sneakers and what we have seen there is that yeezy and kayne west sell out right away, and it has helped, but the rest of the line has not captured the enthusiasm like what we have seen out of nike and the competitors, and this is something that adidas is hoping to change. he said they have been working 18 months on the pipeline and hired new designers and ready to gear up, and outgrow the category for this year, but now they have to execute and perform, because they are making big promises which is why the stock is up. >> sara, thank you. we

again, nikeing, adidas, callaway, puma if, under armour, why those names? online retail can be strong, but retail inmight see a little bit of pressure this year. >> no, i think you're absolutely right, and i think when you look at the portfolio as a whole, i touched on it being a reopening trade. in many cases, these are kind of the value names as well when you look at where are these names trading versus kind of where they were on a pre-covid basis. we look at these kind of sports apparel brands as a way to play into that reopening trade. call golf, think about how many -- callaway golf, think about how many americans are ready to hit the links after staying at home for the past year. we think those sales are going to be strong as people not only at an amateur level, but at the professional level really get back to engaging and playing sports. cheryl: well, you know what? it's very interesting what you're doing here, will, and again, love the ticker. it's a solid portfolio company, i've got to say. good luck to you with this one. thank you, sir. >> thanks

nike, adidas, uniqlo have also been caught up in the freight for any comments they have made relatederns about cotton. mark: good morning. has china resorted to this tactic before in targeting brands? tom: it has. you can look back to 2008. french supermarkets were targeted after the olympic flame was grabbed by some tibet protesters in france. that led to this boycott in beijing. 2012, japanese cars and japanese products boycotted over a dispute over some islands. japanese cars still being bought in the chinese market. 2017 korean products boycotted as a result of the missile system that the u.s. was putting in south korea. again, consumers buying back south korean products. it doesn't always work out that way. a south korean supermarket chain had to exit the market here after a boycott. the jury is still out but it does remind us that as these frictions become more intense between china and the rest of the world, it becomes more difficult for companies. anna: thank you very much. the latest on the relationship between these businesses in china, what the future of that relationship

collected sports trading cards, cabbage patch dolls or the latest limited edition drops from nike and adidasem? where digital only products are bought and sold? it is the nfc or nonfundable token market. >> they are digital collectibles or creations that are images or videos or animations that you can view and enjoy on the internet, but if you want to claim ownership of it, you need to own its digital record. >> reporter: from art to music to sports, it's a new phenomenon that is moving quickly, and with big numbers. >> oh. >> oh my god. >> reporter: this digital artist recently sold his online masterpiece for a record $69 million. lesser known digital creators are selling their online only pieces for eye-catching prices. last month, a gif sold for more than $500,000. why would you pay for an nft when you can look at it for free? >> you can go and look at the mona lisa and take a picture of it, but you don't own the mona lisa. >> this man was a math teacher who stumbled into this marketplace and is hooked. >> it started about mid-january. probably my account at one point, it was over six fig

if you are nike or adidas, you know how to get in touch with your top-tier athletes or actors, but fory they have no way to get to hollywood. in many ways we open the red velvet rope, and that's what we do. >> i have to say, steven, i have gotten a cameo i got loretta switt who loved "m*a*s*h" for my stepfather given the ease of technology, where was the idea pitched and to whom? >> well, we had the idea leaving my grandmother's funeral, of all places, i think where every billion dollar idea ought to happen my co-founder martin was at the time an nfl agent and he had one client, a guy with the seattle seahawks he told me cash had this big personality but he couldn't find off-the-field endorsement deals. right before that espn had a documentary saying nfl players go broke five years after playing their last game. we were trying to find a great way to help talent and fans connect, but in a way where people like cassius marx of the seattle seahawks could make off-the-field income while becoming a bigger hero to the people that love them. it started with the idea that the selfie was the ne

china is trying to gain leverage and flexion its muscle geopolitically here nike isn't commenting but it is a huge deal. adidasll. china representing 22% of nike's sells, even bigger contribution to profits and has been a steady grower it is the growth engine for nike and a big part of the bug case so, any brand tarnishing for the chinese consumer could hurt nike keep in mind what i'm hearing from sources, nike products are still available in all channels online and offline in china right now. nike also doesn't appear to be singled out. among some of the other brands china has targeted here. nike has been operating in this country for 40 years, so it has pretty deep roots and relationships with officials on the government side and partnerships as well we'll continue to watch it because clearly those sales are a huge deal for the company and the stock. the brand is getting hit remember nike is not a stranger to boycotts, especially that spread on social media with the betsy ross sneakers here in the u.s., and there's also been a source of controversy in china with sweatshops and hong kong last year. >> i think

while president biden is extending olive branches, president xi of china making ultimatums to nike, h&m, adidasave all been shunned. the companies are ridiculed on social media in china after some leaked memos spoke of abuse of the uyghurs there. do you think these companies will blink, gordon? >> some of the companies have blinked. some have retracted statements on shinzhen cotton which is the issue. ultimately it is up to the consumers of the world. if we will not buy from companies that participate in supporting again genocidal regimes they have to make a choice. i think they will choose the right way. the one thing beijing is doing right now, it's a real warning sign, it is going after foreign companies across the board. not just the shinzhen cotton thing. that is a real indication something is wrong in beijing right now. charles: what do you think might be wrong? >> you know, i think that there is a real feeling of insecurity. they talk about how the united states is trying to destroy their regime. where i think that is the last thing on the minds of the biden team. also, they have got som

nike. what do you think of this? >> i think adidas was down 6% today. i think bush ri was down 5.5%. nike has not been afraid to wade into social issues in any country and nike's innovation around the world continues to make them a leader i'm most worried about nike's valuation which is 60 times trailing mike's numbers were up 50% in china. that's the number that people want to focus on, but was that the reason is shares outperformed i think the bigger part of the story is north america, innovation and i've not run too far away from this one. i'm not doing anything with my position >> tim mentioned valuation, guy. could this be the reason to take profits? >> it makes sense. when -- valuation doesn't matter until it does. that's what happens. when you have a back story, first thing people look at is valuation. it's too expensive, they sell it now you have to figure out where to get it if you haven't been long or where to get back into it if you have sold out. i think 122 for a lot of reasons makes sense. that was the low around halloween. we're not that far away. nike is never scared t

that was his speech as nike and adidas face a ban in china over the forced use of labor allegations.the managing director and cnbc contributor. gentlemen, thanks for being here why don't we start with talking about what this means for global companies? we mentioned some companies, but this seems like a time where companies are going to be forced to take sides and maybe not move as easily as multinationals as in the past. do you believe that? >> i think so, becky if you are a western brand with a footprint in china, you will be forced to choose a side or conform to chinese values and norms. i think it is time for western companies to reassess assumptions about china and make sure they are well suited for today's china. this is a time for you to understand the china of 20 years ago does not exist the ability to thread the needle and not choose a side is less and less possible. i think we're going to see a lot more of this this xi boycott is one of many issues that western companies can find themselves in what the contradiction of the chinese market expecting for companies in the market

. >> who are they taking share from, dana i talk to nike and adidas and they all say they're taking shareyear, it's been fashionable apparel and social dressing apparel. let's keep in mind what lulu has done with their on the movement collection for travel and commute and office when we all go back to the office, i think they're basically widening the scope. it's not just for activities of doing, it's for activities of socializing too. so i think they have taken some of the social occasion apparel and made it more everyday apparel and that's where they're taking the share f from. >> the other number i wanted to pull out of this report is they have grown their direct-to-consumer business to half of sales, a little more than that, from 30% or so where it was a year ago. where does that put them against some of the other competitors in the industry >> makes it a little higher. when you think of last quarter, around 43% of their sales came from online so it keeps increasing i think the 50% number is definitely a big number out there. we've seen from some of the retailers in general it's reach

. >> first it was the nba, no nike, h&m, burberry, and adidas join the list of companies targeted bynies are targeted after they issued statements decrying forced labor in concentration camps in which sterilizations are widely reported. as a result, china removed their products commit stomach. their stores disappeared from apple maps and chinese couple, customers bands to boycott that. >> i will boycott them. >> president biden criticized china and its leader calling them repressive. >> president biden: i've known him for a long time, he doesn't have a democratic bone in his body. to speak on the same day, the biden administration signed its first to deal with taiwan, establishing a working group to establish maritime issues. the u.s. admiral says a potential invasion of the island is closer than most think. >> we ought to be prepared today. >> tensions between u.s. and china peaked at the recent alaska summits, last night, former president trump waited in. because that was an embarrassment to our country. i took in billions and billions of dollars from china, we were bringing busine

nike, h&m, marks & spencer have gone far on this, and adidas, have made statements of concern about whatuman rights situation in northwest china. the interesting thing is, the companies who are saying they are going to continue to source, are doing so flying in the face of all the evidence, and flying the face of markets, the consumer markets in the west who are increasingly concerned about their ethical purchasing practices. >> how do you read that than? clearly, several companies reaffirmed they are going to use xinjiang cotton, bowing, it appears, to pressure from china? with that playing out, do you think there will be some kind of a reaction from consumers at the end of the sales chain? >> absolutely, i do. i think it can only go one way. because, as you have heard repeatedly from the chinese government, they are not willing to accept anything there is wrong at all. they moved from blanket denials to accusing other countries of having had genocides in the past and that has now become their pr strategy. the remarkable thing is the public awareness is growing. the parliamentary initia

if you add that up, ian, with what we've seen out of h & m, nike and adidas, some real anti-brand sentiment from china and chinese social media, state media there, it feels like it's a bad week for u.s./china tensions if you're expecting that to thaw during the biden administration am i right >> last week was worse anchorage definitely was a bigger problem i did think that yesterday's press conference by biden when he came out and said, hey, we organized -- and we're talking about china but we don't know why it's upsetting the chinese is really clever we know exactly why it's upsetting the chinese. they really don't think the fact that we are trying to advance a coordinated policy of a u.s. ru rules-based system that we consider the chinese to be illegitimately in breach of. the chinese demand to be treated as equals sitting down at the table with the united states that's a pretty significant issue for us to butt heads over. and the willingness of the chinese to whack both u.s. corporations appearnd the europs more broadly in ways that they consider unacceptable on issues of domestic chines

nike, apple, adidas, coca-cola, lobbied against a bill we had in congress last year banning imports froml it in the senate, marco rubio reintroduced. social justice applies around the world. i know these companies are worried about earnings. at some point you have to take a stand, a moral stand, and i'm going to continue to call out their hypocrisy when it comes to supporting social justice here in the united states but turning a blind eye to just gross, sick human rights abuses that's going on under the thumb of the ccp. maria: i'm really glad you said that. because really in many regards corporate america is letting us down by doing just what you said and moving into china to try to sell to the 1.4 billion people there without recognizing the national security risks and the human rights abuse as well. should the administration be taking a stronger stand here? what's your take on how the ccp tried to school our state department in that ridiculous meeting in alaska last week? >> i mean, you're absolutely right. the companies are drunk on chinese money. hollywood, our sports enterprise, l

nike not commenting. a lot of the apparel companies not commenting. gap and under armour fare better in the latest trade. h&m and adidasrry which all have a presence in china got hit hard. the controversy has been getting attention this week, sparking share losses for the companies. the chinese government has rejected the claim. nike has not responded to request for comment. it said in the past, its products are not sourced from the region. they have been criticized for speaking out in the past about cotton in that region. haidi: what likely no happens the -- what likely now happens? >> in the long-term, they may do well. we are seeing the fact that chinese companies may be the benefit. some have spoken now in favor of the region, which supplies 80% of chinese companies with their cotton. in the meantime, these companies are in a dilemma. they have not taken a strong position for the most part. analysts point out if they reject cotton from the region, they may shore up support in their home countries but reject a growing market that is of major importance particularly to luxury retailers. if they support cotton, they r

dropped cotton from the supply chains nike is one of several companies here that have been facing this kind of criticism from the chinese public that includes the gap, adidasa, and this all comes after the u.s., as well as other countries in the west sanctioned beijing over what they see as mistreatment of the muslim uyghurs, so chinese celebrities have cut ties with nike, also tonight chinese online have been calling for chinese sports teams to drop nike sponsorships. the good news here is that so far nike stores have been open all day. their products are still available on alibaba, jd, as well as other sites, and that isn't the case for some of the other international brands likely good news for nike given that china accounts for 23% of nike's brand sales what i thought was also interesting time, the global times editor that is quite influential of the paper, said that the chinese government shouldn't fan these flames but instead that international brands should go back to their governments and lobby to be able to use shinjon cotton, and the reasoning here, and what it really highlights is that it's a very complicated game right now for the chinese becau