On May 24, Li Ning announced the resignations of three senior executives – COO Guo Jianxin, Chief Marketing Officer Fang Shiwei, and Director of E-commerce Lin Li. A source blamed the exodus on the failed campaign.
That same day, Li Ning's Hong Kong-listed shares declined 8.4 percent. The stock has continued losing ground ever since, falling to HK$ 13.38 on June 9, far below the past year's peak of HK$ 29.35. The company's market capitalization has declined more than HK$ 16.8 billion
Chinese sportswear maker Li Ning is to open its first store in the US on January 4 next year, according to Li Ning Sports USA, its US subsidiary's recent Facebook page update:
It's official.......Come visit the first Li-Ning retail store in Portland on 1/4! We will be open Monday-Saturday from 10am-6pm. E-commerce is coming soon at www.li-ningusa.com
Chinese sportswear manufacturer Li Ning on Monday signed a 5-year sponsorship deal with Yelena Isinbayeva, two-time Olympic pole vault gold medalist and world record holder. The lucrative deal is reportedly worth $ 1.5 million USD annually, the best endorsement offer a company ever made on the track circuit.
Yelena Isinbayeva set a new pole vault world record of 5.05 meters at the Beijing Olympic Games, and the 26-year-old told press earlier that she wanted to clear 5.20 meters by the end of her career. Yelena started Pole Vault with Evgenii Vasilievich Trofimov in 1997 and ended in November 2005. She's now coached by Vitalii Afanasievich Petrov.
ANTA Sports Products Limited, the Fujian-based Chinese sportswear maker, signed a deal on Jan 18 with the top ranked female tennis player "JJ" Jelena Jankovic. The historic deal clearly marks the company's ambition to go global, a very good branding move especially compared with Li Ning, who last year signed a two-year contract with the third-tier NBA player Damon Jones, the then Cleveland Cavaliers' guard now playing for Milwaukee Bucks.
Jelena previously collaborated with Reebok before penned the deal with the Chinese company. Famous for her explosive forehands and powerful straight backhands, the Serb had a taste in No.1 for WTA on 11 August, 2008. With a record of 65 wins and 19 losses in the season of 2008, Jelena is the 18th WTA tennis player who ranked the first in women's single, and she has become world No. 1 women's tennis player since 6 October, 2008.