One of the greatest gymnasts of all time, Li Ning, was literally on top of the world when he ran through the air to light the Olympic torch in Beijing.
But since that day in 2008, his company has been troubled.
In 2009 Anta Sports replaced Li Ning Co. and Adidas to became the official partner for sportswear for the Chinese Olympics Committee and the Chinese Sports Delegations.
Now this …
… Li’s company had announced on Dec. 17 its product order information for the second season of 2011. Orders for clothes and shoes dropped 7 percent and 8 percent respectively. On Dec. 20, the first trading day after the announcement, the company’s stock price dropped 15.86 percent, the largest plunge in a single day since the company went public in 2004. …
Businesses lose hundreds of millions of dollars in value
China’s ‘Prince of Gymnastics’ Takes Tumble After Beijing Olympics
They’ve denied shutting down 600 outlets, a rumoured panic reaction.
Here’s the strategy in bringing the brand to America to compete head on with Nike and Adidas:
With Li-Ning, a big part of the allure is the performance heritage and the Chinese cultural component. From Li Ning’s epic performances to the glory of the 2008 Beijing Olympic Games, Li-Ning has been the flagship Chinese sports brand. We believe today’s young US consumer thinks more globally than any generation that came before, and – as opposed to assuming US athletes are not interested in the brand’s backstory – we prefer to embrace the “Chineseness” of Li-Ning as a breakthrough selling point.
I dunno. There’s plenty of anti-Chinese sentiment in the USA.
Seems to me that TV commercials like this are not going to work. Click PLAY or watch it on YouTube.
(via China Smack)
I like Li Ning and the Li Ning brand. But it looks like they will need to downsize drastically to return to profitability.
Gymnastics Coaching.com 