Word: china
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When Li Ning first came to the American West, he shocked the world by winning six Olympic medals in gymnastics - three of them gold - during the 1984 Los Angeles Games. Prior to 1984, the People's Republic had never even won an Olympic medal, and Li Ning was China's undisputed star of the L.A. Games, becoming an instant Chinese sports legend...
...Ning the company is still soaring. In March, Li Ning Co. reported a more than 30% rise in profit in 2009. Li Ning started his sportswear company in 1990, building it into a giant, with 2009 sales considerably more than $1 billion. With 7,249 branded stores in China, Li Ning has surpassed Adidas to become the No. 2 sports-apparel company in the country. Unlike an Adidas or a Nike, 99% of Li Ning's revenue comes from within China. But this won't be the case for long. Li Ning has signed a deal with Champ Sports, where...
...This year, Li is back on the West Coast - or rather, his eponymous sportswear company is - setting up its first U.S. retail store in Portland, Ore., not far from the headquarters of archrival Nike. This isn't the first time China's biggest shoe company will go toe to toe with Nike, which has aggressively marketed itself in China. But for once, it won't have home-court advantage. Eyes are on the Portland area, also home to Adidas America and Columbia Sportswear, to see if Li Ning can once again surprise the world by taking on American powerhouses...
...Despite the growing political influence of China, try asking an American to name a Chinese company and you're not likely to get much of an answer. While South Korea has Samsung and Hyundai, and Japan has Sony and Toyota, in the U.S., China is largely associated with the mass production of low-end goods, with few of its own international brands. To battle China's reputation for cheap imitations, Li Ning has hired top designers from Portland's rich pool of shoe-design talent and placed its high-end sportswear in an airy showroom in a Portland's chic...
...products in the Portland store do not shy away from Li Ning's origins, highlighting apparel for popular sports in China like badminton, table tennis and kung fu - games you won't find front and center at nearby Niketown. Li Ning consciously decided not to shed its Chinese identity as it expands overseas, hoping instead to ride the growing influence of Chinese culture. Jay Li, the general manager of Li Ning USA, predicts that as Chinese soft power expands, China's tastes "will become part of the fabric of mainstream culture." Says Li: "When the tide starts to turn...