China’s Li Ning sportswear brand reported another big fall in revenues for the first half of this year, but it said inventory levels had improved and full-year losses should be less than last year’s Rmb2bn, writes Patti Waldmeir.
The brand, founded by Olympic gymnast Li Ning, one of China’s best-known athletes, is a household name in China and one of only a handful of world-class Chinese brands.
But despite support from TPG Capital and Singapore sovereign wealth fund GIC, the company is still struggling to recover from branding mistakes and inventory problems exacerbated by a shakeout in the mainland’s sportswear market.
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