Consider that in 2010, the company's Chief Marketing Officer Abel Wu said of Nike, "We think we have a respectable competitor from the United States:' In comparison, new Chief Executive Kim lin-goon told The Wall Street Journal: "I don't think we're trying to compete with Nike." Clearly, the company's former sky high ambitions have taken a hit.
Days of Glory Founded in 1990 by Chinese sporting legend and gymnast Li Ning, who won six medals at the 1984 Olympics in Los Angeles. the company benefited from the national adulation of its founder. It also rode the start of the golden decade for the domestic sportswear industry in China. Until 2010, the company enjoyed annual growth of between 30% and 40%.
"It was the first Chinese company making inroads internationally and it was the first Chinese sportswear brand to launch on Hong Kong Stock Exchange says Martin Roll, well known brand strategist and author of 2005 book Asian Brand Strategy: How Asia Builds Strong Brands. "It was bold, very hungry, and it wanted to showcase to the world what a Chinese company could become." he adds.
In 2005. Li-Ning gained ground in international credibility through a strategic joint venture with AIGLE. a French company specializing in handcrafted outdoor sportswear. known for its chic designs and durability. In the same year. Li-Ning signed a strategic alliance with the NBA and became the first Chinese sportswear brand to appear in an NBA basketball court the year after. Upon winning over former Nike collaborators Baron Davis and Shaquille O'Neal. both players pronounced Li-Ning's designs as the 'coolest on the court'.
In 200S. Li-Ning signaled its ambitions by quietly planting its flag in Nike headquarters' backyard. opening its design office in Portland. Oregon where the US headquarters of other major brands Adidas and Columbia Sportswear are located.