Published on : 20/06/2024
The UEFA Euro 2024, towards which fans across the world have been looking forward, officially kicked off last week.
Chinese fans might feel an unexpected sense of familiarity from this distant event, thanks to the conspicuous Chinese characters on the advertising boards.
EURO 2024｜Chinese enterprises rising: BYD replaces Volkswagen
According to official information, there are thirteen "global partners" as the main sponsors of EURO 2024, as well as some regional sponsors, mostly local German companies.
Among the many main sponsors, Chinese enterprises dominate the most, with as many as five of them, namely Hisense, Vivo, BYD, AliExpress, and Ant Group.
Thus, for the second consecutive time, China has become the country with the most sponsors for the Euros.
Moreover, the trophy awarded to the player scoring the most goals in the final will also be sponsored by Alipay+, a subsidiary of Ant Group.
The UEFA European Championship, being a grand football event, is one of the programmes with the highest viewership worldwide, therefore naturally, it is a highly contested marketing battleground for brands.
The advertising boards of the Euros have, for a long time, been dominated by international brands like Volkswagen, Adidas, VISA, etc.
In 2016, Hisense Group became the first Chinese sponsor in the 56-year history of the UEFA Euro.
Since it started sponsoring the UEFA Euro and stepped onto the international stage, Hisense has seen strong growth in its overseas business.
From 2016 to 2023, Hisense's overseas revenue jumped from 23.4 billion CNY to 85.8 billion CNY, increasing its share of overseas sales from 23% to 43%.
Another interesting piece of information about Chinese sponsors is how BYD successfully replaced Volkswagen at EURO 2024 to become the official mobility partner, also establishing several records in the history of the Euros, including the first collaboration with a new energy vehicle brand, and the first-time partnership with a Chinese automobile brand.
EURO 2024｜Chinese enterprises "go overseas" and explore opportunities
Last time, EURO 2020 drew a global audience of 5.23 billion, with the final match recorded a whopping count of 328 million live viewers.
Chinese enterprises deeply involved in world-class sporting events demonstrate their global influence while, on the other hand, they also create more business opportunities.
AliExpress, an online retail service provider, officially became a partner of the Euros in March this year.
The data shows that the sales volume of football products on AliExpress in May increased by as much as 80% year-on-year, and the number of packages shipped to Europe from Cainiao warehouses increased by more than 300% over the same period last year.
Hisense, a "pioneer" company, reaps both fame and benefits.
Data shows that Hisense's global recognition increased by 6% in the very year it first sponsored the Euros, and its sales in the European market increased by 65% in the second quarter.
In the following eight years, Hisense's overseas brand recognition jumped from 37% to 54%, and it has been ranked among the top 10 China Global Brands for seven consecutive years.
Just as the players participating in the Euros strive to make their countries proud and increase their own value, Chinese enterprises also use the Euros as a platform to "go overseas" for the European market, and rise among world-class businesses.
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