Li Ning to focus on mid-tier market
March 31, 2014 Category Retail, Weekly
Sportswear brand Li Ning plans to focus on the mid-tier market and exit non-sportswear categories after reporting a loss of CNY391.54 million last year, 80% less than the CNY1.98 billion it lost in 2012. Revenue fell 12. 8% to CNY5.82 billion, partly due to a shrinking outlet network. The number of stores fell to 5,915 from 8,255 in 2011. The company said it wanted to turn its focus away from casual wear and back to its core in sportswear while elevating its brand to a more premium position. Li Ning sells three sports shoe lines.
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