Li-Ning Company Limited is a Chinese sportswear and sports equipment company founded by former Olympic gymnast Li Ning. The company endorses a number of international athletes and teams worldwide in pursuit of the North American market(s).
The company was founded in 1989 by Li Ning,a former Chinese Olympic gymnast. As of 2015,Li Ning remained the chairman of the company's board of directors.[3] In 2005,Li-Ning created a joint-venture with French sports apparel company,AIGLE,giving Li-Ning the exclusive right to be the sole distributor of AIGLE's products in China for 50 years.[4] In 2006,Li-Ning posted revenues of US$418 million,and total profits of about US$39 million. As of March 2007,there were 4,297 Li-Ning retail stores.[5] The company directly owns some of the retail stores while others are franchised.
In January 2010,Li-Ning opened its U.S. headquarters and flagship store in Portland,Oregon. In 2010,as part of the 'Revitalization' of the brand,Li-Ning released a new logo and the new slogan "让改变发生" "Ràng Gǎibiàn Fāshēng" in Chinese,translated to "Let the Change Occur" in English. In January 2011,Li-Ning entered into a partnership with Chicago-based Acquity Group[6] to expand its U.S. distribution and brand awareness.
In April 2012,Li-Ning was awarded the highest distinction of "Outstanding Contribution to Quality Standardization Award" in knitwear division at the Third National Textile Standardization Technical Committee's inaugural meeting held in Zhuhai,Guangdong. In September 2012,Li-Ning signed into a partnership with NBA player Dwyane Wade.
In 2013,The Group recorded revenue of RMB2,906 million,which represented a decrease of 24.6% year-on-year,due to near-term focus on sell-in reductions,inventory clearance,and reducing the number of stores.[7] The Group projected a net loss of up to 820 million yuan (US$13.19 million) for 2014,the third straight year where it was unprofitable.[8][9]
In 2019,Li-Ning reported revenues increased by 32 percent and reached 13.87 billion yuan against 10.51 billion yuan a year ago. Net profit attributable to equity holders increased to ¥1.5 billion from ¥715.3 million which vaulted 110 percent.[10]
In 2020,Li-Ning saw its revenue increase 4.2 percent year-on-year to 14.46 billion yuan ($2.22 billion),the net profit increased on a comparative basis by 34.2 percent to 1.7 billion yuan ($261 million).[11]
On 7 March 2022,the world largest sovereign wealth fund,the Government Pension Fund of Norway excluded and divested from Li-Ning. The reason for this exclusion was an "unacceptable risk that the company contributes to serious human rights violations".[12][13] That same month,the US Customs &Border Protection began detaining Li-Ning products from entering American soil due to the company using North Korean labor in its supply chain,causing them to withdraw from the US market.[14]
Indian Olympic Association had signed a sponsorship deal with Li Ning for the Rio 2016 Summer Olympics.[17]
In celebration of its 30th anniversary,the brand held a fashion show on January 18,2020,during Paris menswear fashion week. The show also showcased a 10-piece capsule collection in collaboration with Jackie Chan and a sneaker done up with Dwyane Wade.[18]
2008 Beijing Olympics
Li Ning in Bingo Space
Li-Ning sought sponsorship opportunities related to the 2008 Summer Olympics held in Beijing,China. The company arranged to outfit every presenter for broadcaster CCTV-5,the sports channel of the Chinese Central Television.[19] Li-Ning also sponsored the Chinese national teams of Gymnastics,Table Tennis,Archery and Diving. It also sponsored the Spanish basketball team,as well as the Argentine and Swedish Olympics teams.
In a now famous case of ambush marketing (a subset of guerilla marketing),when entire countries were tuned to the 2008 Summer Olympics opening ceremony,millions saw Li Ning light the torch.[20] Though the Li-Ning company was not an official sponsor of the games,it had still associated itself with the games through its role as an equipment supplier for several Chinese Olympic teams,and through Li's status as a Chinese sports and business icon. Consequently,the ceremony generated tremendous exposure for Li's eponymous company to the chagrin of official sports apparel supplier Adidas,as viewers did not realize that he had been fully dressed in Adidas as per its sponsorship rights to the Games.[21] The company's share price increased by over 3% on the first day of trading after the opening ceremony.[22]
In 2006,O'Neal signed a four-year deal with Li-Ning,reportedly worth US$1.25 million,the largest deal made by the company,and the highest profile signing of an American sports star by a Chinese company.[23] O'Neal cited former teammate Damon Jones and the Spanish national basketball team's deal with Li-Ning as influences on his decision to sign with Li-Ning.[24][25]
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US$1.1 billion (FY 2012) [2] 
