Word: ning
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...Ning Sports Goods, China's largest athletic-shoe and apparel company, built brand awareness the same way Nike did--by getting a revered athlete to hawk its products. But while Nike had to hand over millions in endorsement fees to basketball superstar Michael Jordan, Li Ning Sports Goods just put its eponymous chief executive in front of the cameras. Li Ning, a former gymnast, won the hearts of millions of Chinese when he took six medals--three of them gold--at the 1984 Los Angeles Olympics. Since he founded his company in 1988, Li, 39, has doubled as its spokesman...
There's a tried-and-true formula for marketing success in the athletic-shoe business: find a major sports star, sign him to a hefty product-endorsement contract, and watch the cross-trainers fly off the shelves. For 13 years, Beijing Li Ning Sports Goods applied that formula, becoming China's largest athletic-shoe and sports-apparel brand?without blowing big bucks on superstars. Why were they spared the expense? Because the founder and chairman of Li Ning Sports, champion gymnast Li Ning, is also the company's chief spokesman. Li became a national hero to millions of Chinese after...
...like Jordan, Li is discovering that knee ligaments and marketing formulas don't last forever. Li is uncharacteristically absent from his company's latest mainland advertising campaign, a $2.4 million TV blitz that coincides with World Cup broadcasts. The ads, featuring no-name characters wearing Li Ning Sports gear, are part of a corporate image overhaul to get younger, more affluent Chinese to wear the brand. Li, now 39, isn't recognizable to a hipper generation that follows NBA basketball and the English Premier League on TV. Fans "used to come by the thousands when I opened outlets," Li says...
...Since retiring from gymnastics in 1988, Li has built his company into a credible challenger in China to Nike, Adidas and Reebok. Li Ning Sports currently holds a 10% share of the mainland's athletic-shoe market, outselling all foreign brands combined. Aided by more than 1,000 Li Ning Sports specialty shops scattered around the country, sales have grown at an annual average rate of 32% for the past three years; profits were $8.5 million last year on $108 million in revenue. The numbers may not sound impressive?Nike's 2001 global sales were $9.48 billion...
...company has been able to grow primarily by tapping market segments the global brands largely ignore. Li Ning shoes?distinguished by a logo that resembles Nike's famous swoosh, but with a foxtail attached?sell for $40 dollars?less than half the price of top-of-the-line foreign sneakers. They are popular in rural China, but not in the country's wealthier coastal cities, where residents prefer foreign brands. Li Ning Sports "is an old brand and it certainly needs revitalization," says Xue Xu, a marketing professor at Peking University and an expert on domestic brands. Moreover, Xue says...