Home / Knowledge / News / Apparel/Garments / Li Ning pays $69.7 mn to control UK shoe brand Clarks

Li Ning pays $69.7 mn to control UK shoe brand Clarks

Jan '21
Pic: Shutterstock
Pic: Shutterstock
Viva China Holdings, the sports talent agency founded by Chinese gymnast-turned-entrepreneur Li Ning, recently bought control of Clarks, one of the oldest British shoe producers. The company agreed to pay £51 million ($69.7 million) for 51 per cent of LionRock Capital Partners QiLe Limited, the private equity firm that will own the Clarks brand, according to a filing at the Hong Kong stock exchange.

The investment would give Viva China control of Clarks when LionRock completes its £100 million investment to re-capitalise Clarks, a Hong Kong-based English-language daily reported. Li is the non-executive chairman of LionRock. Li owns a 92.91 per cent of Viva China, set up in 2009, according to its interim report for 2020.

C&J Clark Limited had confirmed last year that its proposed partnership with LionRock Capital announced on November 4 had been approved by Clarks’ shareholders. LionRock Capital is a seasoned private equity fund and seeks to partner with leading global consumer brands with an emphasis on China expansion.

Clarks has been struggling due to the devastating impact of the COVID-19 pandemic. The retailer with 320 stores in the United Kingdom had to cut 900 jobs last May out of a global workforce of 13,000, after reporting a 2019 loss of £83 million. The company warned of deteriorating performance in 2020.

The partnership with LionRock will provide resources and investment as well as the expertise to grow the Clarks brand in China, which remains a primary opportunity, the shoemaker’s chief executive Giorgio Presca had said late last year.

Li’s purchase of Clarks follows the acquisitions of dozens of global sports brands by Anta Sports, Xtep and 361 Degrees International, which make up China’s four largest sportswear producers along with Li’s brand.

Fibre2Fashion News Desk (DS)

Must ReadView All

Pic: Photomall | Dreamstime.com

Fashion | On 2nd Dec 2021

Fashion sector to recover in 2022, supply chain main challenge: Report

The global fashion industry is set for recovery in 2022, with sales...

Pic: Albert Karimov | Dreamstime.com

Apparel/Garments | On 2nd Dec 2021

Germany offers financial support to garment workers in Laos

Nearly 21,000 Lao garment workers affected by the COVID-19 pandemic...

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Seth Casden, Hologenix

Seth Casden

Hologenix is a material sciences company dedicated to developing products...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

December 2021

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

Advanced Search