Ryan Knudson

They took a big hit in sales and they just had to put their head down for a while.

That's right.

So it just showed how it was becoming much harder to both succeed in the U.S.

and the West and succeed in China at the same time.

Anta was making decent quality athletic shoes and was able to advertise to the Chinese market that we're a Chinese shoe brand.

And they were able to sell shoes rather inexpensively, right?

I mean, Nike did have large markups, right?

That's why China brought in so much profit.

China's got really good material scientists, right?

I mean, it's just this global manufacturing hub at this point.

They figured out how to make, you know, really good foam.

And, you know, they had their own recipe that they developed with Chinese scientists they worked with.

And pretty soon they were making, you know, quite good running shoes.

Yeah.

Yeah, that's right.

And Li Ning has the Way of Wade shoes because of, you know, from Dwayne Wade.

And so they were taking Nike on, right?

They were going right into Nike's backyard, essentially.

And they were really gutting for Nike's spot.

And pretty openly, the CEO of Nike,