Home / Knowledge / News / Apparel/Garments / Li Ning 2013 revenue descends 12.8%
Li Ning 2013 revenue descends 12.8%
25
Mar '14
Li Ning Company Limited, one of the leading sports brand companies in China, announced its results for the year ended 31 December 2013. Revenue amounted to RMB5,824 million, representing a year-on-year decrease of 12.8%, mainly due to resizing of the retail network and sell-in related to the Channel Revival Plan as well as inventory clearance. Gross profit was RMB2,594 million, representing a year-on-year increase of 3.2%. Loss attributable to equity holders was RMB392 million compared to a RMB1,979 million loss last year.
 
During 2013, the Group's inventory, sales network, profitability and operating cash flow significantly improved, while the capital structure was strengthened in the year, with over RMB1 billion reduction in debt. The Group decisively exited unprofitable markets, products and channels and resized its retail network, closing further underperforming stores in the year. 
 
At the same time, the Group has made significant progress in building a differentiated brand, with clear value proposition for premium, core and basic sportswear markets, and focusing on the five fastest growing core sports sectors (basketball, running, badminton, training and sports life), and investing in building in its core operating platform, including increasing the number of direct stores.
 
Mr. Li Ning, founder and Executive Chairman of the Group, said, "Chinese consumers have become more sophisticated and expect better quality and value, as well as great performance in their sportswear. We are responding to the needs of our customers - by promoting a sports culture and combining sports functionality and fashionable design in our products, we enhanced the overall experience for LI-NING consumers that's quickly resonated with the rapidly growing middle-class consumers. 
 
“Through clear sportswear brand proposition and brand marketing strategies, we are leading the market with several new achievements. Take basketball as an example, the Group swept the sponsorships for China Student Leagues helped bridge the gap with student groups, and created a campus basketball era sponsored by LI-NING brand. 
 
“What we have seen is a great beginning to move forward in realizing our vision of solidifying LI-NING as China's leading sportswear brand with a unique and authentic brand value and proposition through differentiated business and product strategies."
 
Click here to view full results.
 

Li Ning Company


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search