Chinese sportswear giant Li Ning has started its comprehensive distribution network in South Asia with the opening of a flagship store in Ion Orchard, Singapore, and it plans to open up to 100 badminton supplies stores in this area before the end of 2009.
Yik Kay Chon, the chief financial officer of Li Ning, revealed that the company plans to open 70 to 100 outlets in South Asian countries, including Singapore, Malaysia, and Indonesia. Chon said the prevalence of sports activities in this area will bring huge development opportunities to Li Ning.
To support its expansion outside the Chinese market, Li Ning set up an office in Singapore in 2009 and this office is said to be Li Ning's first overseas branch.
Though affected by the global financial crisis, Li Ning maintained net profit growth of 52% year-on-year in 2008. Apart from the Asian market, Li Ning will also expand to Europe and the United States.
Prior to this, Li Ning announced plans to acquire the Fujian-based badminton equipment maker Kason for HKD187 million.