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

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Top executives
Textile industry

GST has levelled the playing field to an extent

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Urmil Arya

Sushila International, a well established textile organisation established ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Liz Manning

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search