Photo: VCG
US-based premium activewear and lifestyle brand Alo stepped up its expansion in China on Wednesday, launching an exclusive flagship store on Tmall while preparing brick-and-mortar stores in cities including Beijing and Shanghai, adding to a growing number of US consumer brands entering or expanding in the Chinese market.
With Chinese actress Zhao Lusi featured on its homepage, Alo's Tmall flagship store marks its first official sales channel in China and its only official e-commerce channel on the Chinese mainland, giving consumers direct access without relying on overseas agents or cross-border purchases.
Sales on its Tmall store topped 10 million yuan ($1.4 million) within one minute after final payments for preorders opened at 12:30 am, setting a new opening-day sales record for a new brand in Tmall's sports and outdoor category, the Securities Daily reported.
Industry observers attributed Alo's growing appeal in China to the rise of yoga and Pilates, as well as its blend of performance wear and everyday fashion, which resonates with younger consumers and lends itself to social-media-driven lifestyle marketing.
Industry data showed that China's yoga apparel market is projected to reach $2.65 billion in 2026, suggesting significant growth potential despite intensifying competition from established players such as Canada's Lululemon.
Alo is not an isolated case. A growing number of US consumer brands are entering China or deepening their presence, from opening their first stores to expanding retail networks and testing new formats, highlighting the enduring appeal of China's vast market, increasingly sophisticated consumers, and diverse consumption scenarios.
US fast-food chain Five Guys has also expanded its footprint in China, recently entering Beijing with two stores opening simultaneously at Chaoyang Joy City and Xidan Joy City. The launches drew long queues, with waits exceeding two hours during the lunch rush and scalpers reportedly charging up to 100 yuan to hold spots in line, according to media reports.
Five Guys is far from cheap, with a regular burger priced at 70 yuan and even a small order of fries at 32 yuan. But its 16 customizable toppings offer novelty and choice, helping attract Chinese consumers despite the premium pricing.
Meanwhile, Walmart, which has operated in China for 30 years, reflects the continued commitment of long-established multinationals to the Chinese market.
Walmart has recently opened 20 new community stores in Shenzhen, expanding its presence through a format designed to serve everyday needs in neighborhoods. The company told the Global Times that the format is now expanding beyond Shenzhen, with the first stores in Suzhou and Guangzhou set to open in the second half of the year.
At Walmart China's 30th anniversary event on Wednesday, Walmart China President and CEO Zhu Xiaojing said that the retailer has built an integrated omnichannel network spanning hypermarkets, community stores, Sam's Clubs, front warehouses and distribution centers, with online sales accounting for more than half of its China sales last year.
"We remain confident in the Chinese market and will continue to increase our strategic investment in China," Zhu said, adding that Walmart will further expand its omnichannel presence, deepen community engagement and work with suppliers to strengthen differentiated product offerings, according to The Paper.
The latest corporate moves are also reflected in broader investment data. Actual US investment in China rose 24.5 percent year-on-year in the first four months of 2026, according to China's Ministry of Commerce. More than 3,000 foreign-invested companies increased their investment in China during the period.
Meanwhile, a 2026 survey by the US-China Business Council found that 95 percent of US companies regarded their China operations as important to remaining globally competitive, underscoring China's continued role in their global business strategies.
Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times that at a time of sluggish global growth, China offers multinational companies a relatively stable source of revenue, while its mature supply chains, logistics networks and large consumer base allow brands to respond quickly to changing demand.
Wang said that the appeal of the Chinese market has also moved beyond sheer population size. Foreign brands are increasingly drawn to opportunities created by more segmented consumption across different city tiers, age groups and lifestyle categories. China's highly developed digital retail ecosystem, including social-commerce marketing, instant retail and integrated online-offline channels, also gives companies a testing ground for new products and business models.
Despite uncertainties in China-US economic ties, Wang said that companies ultimately make investment decisions based on market demand, growth prospects and competitiveness. For many global consumer brands, pulling back from China would mean giving up a vast customer base and leaving more room for competitors.
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二 | 七年前，多伦多做过一次NBA历史上最成功的豪赌。他们送走德罗赞，换来只剩一年合同的伦纳德。结果只用了一个赛季，伦纳德就把猛龙带到了从未到过的地方——NBA总冠军。

三 | 然后，他走了。

四 | 没有卫冕，没有长期合同，甚至没有给多伦多留下第二次冲冠的机会。七年之后，35岁的伦纳德距离重新穿上猛龙球衣，只差最后一道关。更疯狂的是，这一次多伦多付出的代价，可能比2018年更让人心惊。英格拉姆、格雷迪·迪克、两个无保护首轮、两个次轮，再加一次首轮互换。为了一个35岁的伦纳德，猛龙为什么还敢赌这么大？答案其实就藏在2019年那座冠军奖杯里。 01 先把现在的情况说清楚。猛龙和快船已经在6月底达成伦纳德交易协议。

五 | 按照公开报道，多伦多得到伦纳德；快船得到英格拉姆、格雷迪·迪克，以及2031年和2033年两个无保护首轮、两个次轮和2027年首轮互换权。但这笔交易目前还没有正式完成。

六 | 原因不是双方反悔，而是NBA仍在调查快船是否存在规避工资帽的问题。猛龙7月9日明确表示，在联盟调查结束前，他们会等待，不会正式完成交易。 8月17日事情又出现变化。有报道称调查没有找到快船老板鲍尔默通过赞助商违规向伦纳德输送资金的证据，但NBA发言人随后表示相关报道存在“多处重大不准确”，最终调查结果仍未正式公布。所以准确地说：伦纳德回归多伦多的大门已经打开，但最后一步还没有真正迈过去。可真正值得讨论的，已经不是交易什么时候官宣。而是猛龙为什么愿意为他付出这么多。 02 因为多伦多太清楚一个健康的伦纳德意味着什么。

七 | 35岁当然是风险。伤病历史当然也是风险。

八 | 可上赛季的伦纳德，依然在65场比赛里场均得到27.9分、6.4个篮板和3.6次助攻。这不是一个准备养老的球员交出的数据。

九 | 更重要的是，猛龙现在缺的恰恰不是普通轮换球员。他们需要的是一个能改变季后赛比赛等级的人。上赛季猛龙比此前一个赛季多赢了16场，百回合净胜分达到+2.9，是球队过去六个赛季最好的表现。年轻核心已经有了。阵容框架也有了。真正的问题只有一个：谁来打季后赛最难的那几个回合？伦纳德恰好就是这种球员。这也是猛龙愿意再次冒险的底层逻辑。他们不是在赌伦纳德还能打多少年。他们赌的是—— 未来一两年，他还能不能再打出十几场真正决定冠军归属的比赛。 03 但这一次和2019年完全不同。第一次交易伦纳德时，多伦多赌的是一个27岁的超级巨星。现在，他们准备迎回一个35岁的老将。第一次，他们付出德罗赞、珀尔特尔和一个受保护首轮，最终换来队史第一座总冠军。现在，筹码里却包括两个无保护首轮。 2031年。 2033年。

十 | 这才是整笔交易最刺激的地方。因为到了那个时候，伦纳德早就不可能还是猛龙核心。换句话说：今天多伦多为了争冠下注，真正可能承担代价的，是五年甚至七年后的猛龙。这就是冠军窗口最残酷的地方。选秀权意味着未来。伦纳德意味着现在。猛龙正在选择现在。 04 为什么他们敢？因为2019年已经给过答案。

十一 | 很多球队十年、二十年甚至更久，都等不到一次真正接近总冠军的机会。猛龙知道这种机会有多贵。他们也知道伦纳德是什么级别的球员。 2019年的伦纳德只为多伦多打了一个赛季，却完成了很多超级巨星整个职业生涯都没有做到的事情。

十二 | 他帮助猛龙拿到了队史至今唯一的NBA总冠军。

十三 | 那一年结束之后，他选择离开。

十四 | 多伦多当然遗憾。但很难真正恨他。因为伦纳德已经兑现了最重要的东西。

十五 | 他来了一年，然后留下了一面永远不会消失的冠军旗帜。所以七年后双方再次靠近时，这已经不只是一笔普通交易。更像是两个曾经一起创造奇迹的人，又准备赌一次。 05 当然，这一次失败的代价可能非常大。 35岁的年龄摆在那里。伤病风险摆在那里。两个无保护首轮也摆在那里。如果伦纳德保持健康，猛龙可能瞬间拥有真正的季后赛王牌。但如果身体再次出现问题，多伦多几年后回头看这笔交易，可能会发现自己为了一个短暂窗口付出了太多未来。所以这笔交易真正迷人的地方，从来不是： “伦纳德终于回家了。” 而是：猛龙明明知道所有风险，为什么还是愿意再相信他一次？答案可能非常简单。因为他们已经赌赢过一次。 2019年，多伦多用一次冒险换来了一座总冠军。那座冠军，也永久改变了这支球队对风险的理解。对于没有赢过冠军的球队来说，两个未来首轮可能是不能碰的资产。但对于真正体验过夺冠滋味的人来说，他们会明白另一件事：未来当然重要。可真正的冠军窗口出现时，它从来不会等你准备好。七年前，猛龙押上德罗赞，赢了。