China: 8bn yuan (€1.1bn) in turnover for the sports equipment brand Li-Ning (+13.1%) in 2016

The Chinese sports equipment brand Li-Ning posted a turnover of 8bn yuan during the 2016 fiscal year (from 01/01 to 31/12/2016), approximately €1.1bn on 31/12/2016, announced the company on 23/03/2017. This amount represents an increase of 13.1% compared to 2015 (7.1bn yuan, €1bn on 31/12/2015).

The growth of the company was primarily driven by the footwear (+15.7%) and clothing (12.7%) segments of the Li-Ning brand, while other brands of the group (including the Aigle and Lotto licenses in the People's Republic of China) showed a decline of -23.6% in revenue.

Li-Ning posted an operating profit of 385.8m yuan in 2016 (approximately €52.8m), more than double that of one year earlier (157m yuan / €22.3m). The Chinese group recorded a net profit of 700.8m yuan on 31/12/2016, 11.4 times more than 12 months earlier (61.6m yuan / €8.7m). This is explained in part by the sale of 10% stake in the brand Double Happiness to Viva China Holdings Group, for 313 million yuan (€42.8m).

• Li-Ning had previously been the kit supplier of several Spanish football clubs (Celta de Vigo, Sevilla FC, RCD…