迪卡儂作為歐洲最大的體育用品零售商，早在1980年代就已經進入中國市場，先是以生產基地的方式落腳，之後在2003年正式開設中國首店。到2017年，迪卡儂在中國的門店數量一度達到260家，成為其全球前五大市場之一。由此可見，中國市場長期以來是迪卡儂全球戰略的重要拼圖。

然而，近幾年情勢卻發生轉變。疫情之後，消費者的購物習慣出現明顯改變，線上購物快速崛起，傳統實體零售商的經營壓力劇增。迪卡儂雖然也嘗試進行改革，例如縮減門店規模、加強電商投入，甚至從外部引進高階管理人才來推動數位轉型，但效果顯然不如預期，業績持續承壓。這也迫使迪卡儂不得不考慮更激烈的策略調整。

此次迪卡儂計畫出售中國子公司30%的股權，估值達到約100億元人民幣，並且已有多家國際投資機構進入談判階段。這不僅是一個單純的財務動作，更可以解讀為迪卡儂在中國市場策略上的重新定位。對外界而言，這可能代表迪卡儂希望引入外部資本與資源，藉此分散風險，同時尋求新的合作與突破方向。

對中國市場來說，這件事可能會帶來幾個影響。首先，對投資者而言，中國仍然是體育用品消費增長的潛力市場，尤其是隨著全民健身政策推進與運動生活方式普及，長期需求依然龐大。若有實力雄厚的投資機構參與，可能會給迪卡儂帶來新的資源整合機會，甚至推動其在產品、數位化及品牌運營上的進一步升級。

其次，這也反映外資零售企業在中國的經營困境。過去十年，許多外資零售巨頭在中國市場面臨挑戰，例如家樂福、沃爾瑪等紛紛調整戰略甚至出售資產，顯示出中國零售市場的競爭已經進入新的階段。迪卡儂的舉動，或許會讓人重新思考外資品牌在中國的定位：是要深耕並全面在地化，還是更傾向於與本土資本合作、保持靈活機動？

最後，對消費者而言，短期內可能不會有太明顯的變化，迪卡儂的門店與電商服務仍會正常運作。但長期來看，如果新的股東帶來不同的戰略方向，例如更重視線上零售、強化會員體系、拓展社群經營，那麼中國消費者與迪卡儂的互動方式可能會出現新的變化。

整體來說，迪卡儂出售中國子公司部分股權是一個重大的戰略轉折點，它既是為緩解疫情後的經營壓力，也是試圖為未來尋找新的發展動能。這將不僅影響迪卡儂在中國的前景，也可能牽動整個體育零售產業的格局。

Decathlon Groupe, the French sporting goods retail giant founded in 1976 by Michel Leclercq and named after the decathlon event, has recently传出一則重大新聞。The company, which opened its first store in Englos, near Lille, has grown into Europe’s largest and the world’s second-largest sporting goods retail chain, with 1,176 stores in 28 regions as of the end of 2016. One of its defining features is its wide portfolio of in-house brands, which are divided into more than 12 categories based on different sports.

Now, Decathlon is reportedly planning to sell 30% of the shares of its China subsidiary, with an estimated valuation of around 10 billion RMB. Several international investment institutions have already entered negotiations, signaling that this strategic adjustment is moving forward in earnest.

Decathlon first entered China in the 1980s as a manufacturing base, and by 2003 it opened its first retail store in the country. By 2017, its store count reached 260, making China one of its top five global markets. However, after the COVID-19 pandemic, the company’s performance began to decline. Despite attempts to shrink its physical store footprint, invest more in e-commerce, and bring in senior executives to drive transformation, the results have been less than ideal.

This potential stake sale suggests a major shift in Decathlon’s China strategy. On one hand, it reflects the company’s desire to bring in outside capital and resources to share risks and possibly unlock new opportunities for cooperation. On the other, it highlights the increasing challenges that foreign retail giants face in the Chinese market. Similar to Carrefour and Walmart, which have also had to restructure or sell assets, Decathlon’s move underscores the intensifying competition and the need for strategic repositioning.

For investors, China remains a promising market with growing demand for sports and fitness, especially under the government’s nationwide “fitness for all” initiative. Should powerful investment partners come onboard, Decathlon may be able to leverage fresh resources for product innovation, digital transformation, and brand operations.

For Chinese consumers, short-term changes will likely be minimal, as stores and e-commerce services are expected to continue operating normally. But in the longer run, depending on the new investors’ strategic direction—such as a stronger push into online retail, enhanced membership systems, or community-based engagement—consumers’ interaction with Decathlon may evolve in new ways.

Overall, the plan to sell part of its China subsidiary marks a pivotal moment for Decathlon. It is both a response to post-pandemic operational pressures and a search for new growth momentum. The outcome will not only determine Decathlon’s future prospects in China but could also reshape the competitive landscape of the broader sports retail industry.