Li-Ning Seeks To Increase Chinese Market Share By 40% In Two Years
Chinese sportswear apparel company Li-Ning CEO Jin-Goon Kim said that the brand "is now in the midst of a major overhaul," aiming to increase "its China market share by as much as 40% in the next two years," according to Laurie Burkitt of the WALL STREET JOURNAL. The company is now "scaling back its plans for global domination in athletic shoes and apparel,” and is “embarking on a three-year transformation program to win a bigger slice on the home turf and improve profitability." Kim said that the Beijing-based company's goal "is to win the mass market in China by targeting consumers moving to big cities from the countryside." Kim said, "We want to be the leading brand in China, as opposed to the leading brand here and overseas." He added, "I don't think we're trying to compete with Nike." Kim said that Li-Ning will “create innovative products,” and cited “lighter running gear and tennis shoes that fight odor and fungus.” He said that the company “will likely cut prices on its basketball shoes to appeal to younger players.” Kim: "We see the growth market with the middle tier" (WALL STREET JOURNAL, 11/21).