A Chinese Run at the U.S.
Sports Apparel Maker Li Ning to Invest $10 Million as It Strikes Marketing Deal.
Li Ning Co. is increasing its investment and marketing in the U.S. as the Chinese sports-apparel maker attempts to become a global brand.
Li Ning will invest $10 million in its U.S. business this year and enter a joint-venture with Acquity Group LLC to expand U.S. distribution, Li Ning Chief Executive Zhang Zhiyong said in an interview Tuesday.
Li Ning’s move is part of a continuing push to broaden its reach into the U.S. and other global markets to compete more extensively with larger rivals Adidas AG and Nike Inc. Li Ning, which opened a Portland, Ore., showroom last year, plans to open warehouses this year to extend its distribution of shoes, apparel and accessories to retail deals it plans to sign in coming months, Mr. Zhang said. Li Ning’s shoes currently are sold in the U.S. through the Champs Sports and Eastbay units of Foot Locker Inc. Li Ning has endorsement deals with NBA players Shaquille O’Neal of the Boston Celtics and Evan Turner of the Philadelphia 76ers.