Regardless of what the haters may think, Chinese footwear company Li-Ning is doing quite well.
According to SGB Media, Li Ning Company Limited reported revenue reached ¥8,015 million in 2016 ($1,166 million USD) — that’s up 13 percent from 2015. The company saw a gross profit increase of 16 percent to ¥3,705 million ($539 million USD) from 2015’s ¥3,193 million ($464 million USD).
According to the company, almost every category of the Li-Ning brand — running, basketball, training, etc. — saw sales growth in 2016. The Li-Ning brand reported revenue of ¥7,925 million ($1,153 million USD), a year over year growth of 14 percent (that’s big).
Perhaps the largest, and most significant growth the company saw in 2016 was operating profit for 2016; it reached ¥386 million ($56 million USD) compared to ¥157 million ($22 million USD) in 2015 — that is a huge 146 percent increase.
In a press release, Li Ning Founder and Executive Chairman of the Group said: “Riding on the success we have achieved in profitability and brand rejuvenation, we will continue to focus on areas that can be sharpened further in order to maintain healthy and sustainable profit growth for the company in the future. We will push forward the building of supporting platform for retail operations in order to constantly enhance the profitability of retail stores. We will analyze key business segments with correlated products and channels based on categories and optimize the overall retail business model.”
For the full report, head over to SGB Media. Did you know Li-Ning was doing so well? Have you seen a shift in how the brand is viewed? Let us know.
Source: SGB Media
