Explosive growth predicted for sports industry

Inside the Shanghai IAPM Mall, one of the city's most luxurious and high-end shopping venues, Skechers, the sportswear brand from the United States, has just launched its new boutique D'Lites, featuring hip-pop culture and street art to appeal to young consumers.

For Skechers, the second quarter of 2018 turned out to be robust for its business in China as it sold 5.6 million pairs of shoes during the period, breaking its own seasonal sales record, according to David Weinberg, the company's chief operating officer.

This June the company announced that the compound growth rate of its sales revenue in China over the past 10 years reached 73 percent. It also aims to have 3,100 shops in China by the end of 2018, up from 2,339 in 2017.