Li Ning aims to be back in the black by this year’s end

In the first six months, Li Ning, the large Chinese marketer of sportswear and shoes, managed to reduce its net loss substantially to 29.4  million yuan renminbi (€4.1 million) compared with RMB 585.8 million (€82.0 million) in the previous year’s first half. Sales soared by 16 percent to RMB 3.6 billion (€507.6 million).

Company founder and chairman Li Ning said that the improvement of the figures resulted from a successful expansion with new shops into second- and third-tier cities. The focus will be on southern China in the course of the second year, while the group will be trying to keep inventories reasonably low.

 

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