Taobao denies that Nike has terminated their online authorization, but Nike has indeed adjusted their channel planning.

On June 25th, Taobo announced that as of the announcement date, the company had not received any official notice from Nike regarding the termination of its online distribution arrangements in mainland China. Prior to this, there were rumors in the market that Nike intended to terminate all online first-tier distribution authorizations in mainland China from January 1, 2027. It was rumored that top distributors such as Taobo, Shengdao, Rui Li, etc. would not be able to sell Nike products on e-commerce platforms in the future, and that consumers would only be able to purchase Nike products online through the official flagship store. Following this, Taobo's stock price plunged continuously.