Lining Crawled Forward For 10 Years. Although The Wind Was Strong, It Was More Important To Do Well In "China Lining".

The Beijing Olympic Games is a distant memory 10 years ago.

At the grand opening ceremony, Lining, wearing a short sleeved sports suit, flew to the sky under the traction of the cable and stepped into the space to ignite the Olympic flame. This is not only the classic moment of the Olympic Games, but also the highlight of Lining's life.

At that time, the former Prince of gymnastics had retired for 19 years, and the same name sports brand "Lining" was founded, making it the first Chinese sporting goods company to list overseas.

Though not the sponsor of the Olympic Games, the chairman went into battle in person.

It has become the biggest brand winner.

Over the next 10 years,

Once surpassed Adidas, it was second only to Nike's "second seats", but later the blind expansion and the pformation of the head and tail turned the big brother of the domestic sports brand into a mire. Lining, who had been hiding behind the scenes, had to go out and revive morale.

In February this year, a fashion week in New York showed Lining, who was once at the bottom of the chain of contempt and contempt, achieved a counter attack.

While winning a lot of praise from netizens, many new products have been sold out of stock, and there has been a demand for purchasing and selling Shanzhai goods.

This is not a short-lived word of mouth marketing.

Four months later, Lining once again boarded the Paris fashion week, designed to restore the retro kernel with colourful coloring. Many foreign friends even wrote messages to Lining's official account on Instagram, hoping to buy it to the UK.

Although Lining is in the limelight, the reality is that the top two local sports brands are Anta, ADI and Nike.

Look at fiercely as a tiger does.

At present, Lining seems to be ready to make a world of fashion.

But can this breakout bring back the golden age of 2008?

One

Although Lining lost to Adidas in the global competition of Beijing Olympic Games, but in 2009, Li Ning Co's development reached its peak. The domestic market share surpassed Adidas for the first time and earned a return in revenue.

According to Bloomberg data, after the Beijing Olympic Games, Nike settled firmly in the chair of Greater China sales, and its growth and sales outperformed its competitors.

In the year, Nike's sales revenue in China was about 1 billion 746 million dollars, Lining was about 8 billion 387 million yuan, and Adidas was about $1 billion 400 million.

The annual report revealed that in 2010, Lining's turnover reached 9 billion 479 million yuan, and the 8000 stores across the country were everywhere.

However, blind expansion also left Lining a hidden danger of backlog.

Huge sums of money have been sold everywhere, which has directly lowered Lining's brand positioning.

In 2010, the management team led by Zhang Zhiyong put forward the strategy of brand remolding. It not only changed the familiar logo "everything is possible" to "Make The Change", but also launched the concept of "post-90s Lining".

In order to take the international high-end route, Lining's clothing products have increased by 17.9%, and have begun to enter the overseas market. Lining is expected to match Nike, Adidas and other big names.

But the replacement exercise makes the old logo merchandise become stock, forcing the terminal stores to clear up quickly, and aggravating the situation of unsalable sales.

The design style of the product can not keep up with the aesthetic level of the post-90s. The original 70 and 80 later are gradually losing and embarrassed by both sides.

The pformative movement led by Zhang Zhiyong has had a profound impact on Lining, causing unprecedented internal and external troubles.

In 2011, with the gradual departure of 5 executives, the problem of rapid growth was gradually exposed.

The annual report revealed that in 2011, Lining realized a total income of 8 billion 929 million yuan, down 5.8% compared to the same period last year, net profit 386 million yuan, down 65.19% compared with the same period last year, the first decline in performance in 2004.

The amount of stock increased from 810 million yuan in 2010 to 1 billion 133 million yuan.

These crises have forced Lining to ease the tension in the capital chain through layoffs.

To add insult to injury, Lining's international strategy has also been frustrated.

In 2012, the flagship store in the United States failed to close its doors, and the Spanish authorized dealer went bankrupt, and the Hongkong store did not escape the bad luck.

In July, Zhang Zhiyong paid for the failure of the pformation.

Jin Zhenjun, a partner of the airborne CEO and TPG, once led Daphne out of the predicament, but the sweeping recovery plan failed to work on Lining.

In 2012, Lining lost 1 billion 979 million yuan, the first loss since listing.

In that side, rival Anta made a profit of 1 billion 359 million yuan and surpassed Lining's 6 billion 740 million yuan by 7 billion 620 million yuan in revenue.

Since then, Lining's position in the domestic sports brand has changed the position of Anta.

The success of Anta can be said to be a "positioning reflection" of the local sports brand.

Firmly grasp the opportunity of Lining, the competitor, to make a wrong decision on the development road. President Ding Shizhong led Anta to make drastic reforms.

First of all, the "go Nike mode" that had been tried was successful. For example, Anta no longer pursued celebrity endorsement, or built a brand on tall, but rather deep ploughing low consumption users.

Although China's first tier cities earn a lot of money, the economic development of different regions in China is "time lag". Anta's success is to use this "time difference" to meet the consumer demand of the three or four tier cities consumers just awakened by affordable prices.

Lining, who had always pursued the high-end line, paid a painful price for the erroneous market.

Two

Two changing CEO still can not change the current situation of Lining's fall. In November 2014, after Jin Zhenjun left Lining, Lining, the founder of the long stay, decided to take over the mountain to take over the company again.

"The company needs me, I will come back. After all, I am the founder and the big shareholder."

In the first year of returning, Li Ning Co announced that the strategic direction was changed from sports equipment provider to "Internet + sports life experience" provider. At that time, Lining and a strong fan base millet cooperation, together to create a smart.

。

Although the combination of "traditional sports shoes + millet Bracelet" has been subjected to many Tucao, the sales of running shoes will be broken by 100 thousand pairs in one month.

Lining, 52, has frequently appeared in various competitions and media interviews.

He opened micro-blog at the beginning of the Spring Festival in 2015, selling Meng, speaking duet and drying himself.

Try to build yourself into a middle-aged red net.

So far, he has captured 2 million 900 thousand fans.

In brand marketing, Lining also changed the slogan back to 2010, "anything is possible".

In the pformation movement, which was regarded as a failure by the outside world, Zhang Zhiyong's two initiatives were quite clear: first, in 2012, he signed the NBA star Dewayne Wade with the price of 10 years and 100 million dollars, launched the "Wade road" sports shoes series, and two became the main sponsor of the CBA League.

They become the two major trump cards of the new Lining era.

"Business is a gamble. Investment is ahead of schedule."

Lining said in an interview.

In the 2015 CBA finals, Lining's champion T-shirt was affixed with black tape, and the black tape that he wanted to cover up fired the champion T-shirt.

The words "cow B" and "cut him" under the black tape are very characteristic of the region, and instantly let the fans boil.

Champion T-shirts are selling well in the cold winter season. The Lining stores in Beijing are queuing up to buy champion T-shirts, which sell tens of thousands of items in one day.

Basketball category is a heavy resource. With the development of university league matches, it has become the vane of Lining's close to street culture and keeping pace with young people.

In 2016, Lining first joined the Chongqing dialect rap group GO$H, cross-border cooperation.

"Boundless" has achieved the integration of fashion and local characteristics.

In addition to the main business of sports equipment, Lining, another listed company under 08032.HK, has also assumed the ambition of Lining to lay out the sports industry.

Extraordinary China mainly duplicates Lining sports park and sports community mode.

Returning to the year, Lining let the company turn a profit in 2015.

While innovating new products, Li Ning Co is gradually adjusting its sales channels and actively embracing the platform of e-commerce.

In the first half of 2017, the number of Lining's stores decreased by 111. The electricity supplier accounted for 12.8% of the revenue of Lining's main brand from 18.2% to 720 million yuan, an increase of 58% over the same period last year.

But this is far from Lining's return to the throne of eldest brother.

According to the 2017 earnings reports released by various companies, Anta is sitting on the throne of China's first sporting goods company at HK $103 billion 87 million in terms of market value.

It is equivalent to 6 Lining, 11 XTEP and 20 360 degrees, which is about 70000000000 HK dollars more than Lining, XTEP and 31st degree market capitalization.

Even on a global scale, Anta has been squeezed into the top three, and the top two are Nike and Adi, the well-known sports giants.

In February of this year, Anta came to Hongkong, China listed 10th anniversary, its market value increased by nearly six times, more than 70 billion Hong Kong dollars, about 5.4 times Lining, is Lining, XTEP, 361 degrees three brands and (about 25 billion 500 million HK dollars) 2.7 times.

Adidas and Nike are still Lining's strong rivals.

By the end of August 8th, Adidas's market value was $11 billion 208 million and Nike was $128 billion 920 million, while Lining's market value was only HK $18 billion 362 million, equivalent to US $2 billion 339 million, Adidas was 5 times its market value, and Nike was 55 times, which was greatly reduced compared with that of 10 years ago.

This year, under the blessing of fashion week, Lining's stock price has shown a positive trend from time to time.

After the New York fashion week in February, Lining's share price rose 10%, and its market value soared 1 billion 500 million yuan. On the eve of Paris fashion week in June, Lining's share price rose more than 6% to HK $9.73 per share, a record high.

But in the long run, what Lining needs in the long run is clearly a more stable strategic plan.

Lining's own brand positioning is not really converted to "tide card" runway.

Lining's head told Ben: "Lining is still concentrating on the field of professional sports. We are not a tide card.

For us, it is more important to do well in China Lining.