Li-Ning opened a 1990 flagship in the high-end shopping mall Parkview Green Beijing last week, and another one in Raffles City Chongqing, selling the brand’s first 1990 collection, including apparel, accessories and footwear. The brand also hosted a press event in Shanghai during the week to introduce the new line to the Chinese market.
Growth at the brand slowed from 65 percent in the first half of 2021 to around 20 percent to 30 percent in the third quarter of 2021. Premiumization and global expansion are two ways to speed up growth again. A week before unveiling 1990 in China, the brand also revealed that it planned to sell around $1.35 billion worth of new shares to its major shareholder Viva China, which is controlled by Li, to raise capital for international expansion and for investment in newly launched product categories.
The multibrand strategy is also a key area for growth. Last week it was revealed that Viva China is to acquire the loss-making Italian shoemaker Amedeo Testoni for no more than 81.57 million Hong Kong dollars, or $10.48 million at current exchange.
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