REUTERS’ Donny Kwok reported Chinese sportswear brand Li Ning “warned of a ‘substantial decline’ in profit for 2012 due to weaker sales and higher marketing costs, knocking its shares to a 6-1/2 year low.” The warning is the “latest blow for China's domestic retail brands, which are facing challenges including high inventory, rising costs and competition from foreign brands such as Nike and Adidas.” Li Ning said that it also "faced a ‘substantial’ increase in brand marketing and promotion expenses" after it signed a five-year agreement with the Chinese Basketball Association through '17 (REUTERS, 6/11).
WALK THIS WAY: Footwear and apparel brand Herstar "signed a licensing deal" with the NBA for high-end women's dress shoes and founder and designer Holly Joffrion spoke about where the idea for the company came from. Joffrion: “I’m a shoe designer by nature, and my husband is a big sports fan. We got invited to go to an Orlando Magic game, and I couldn’t find anything to wear” (BOSTON HERALD, 6/13).
ON ATTACK: Lacrosse brand Brine on Monday announced that it has signed NCAA Tournament Most Outstanding Player Eric Lusby to a multiyear endorsement contract. Lusby, who has also signed a player contract with the MLL Charlotte Hounds, will be used in marketing initiatives and assist in the development of new products with Brine (Brine).
