Retail in Asia

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Li Ning targets 16pc revenue growth, plans store openings

Chinese sportswear retailer Li Ning expects to increase turnover by more than 16 percent this year, with a 10 percent rise in same-store sales.

The company says order values for the first three quarters have increased 11.6 percent, 15.4 percent and 20 percent respectively.

"While the market is becoming bigger, the competition is also getting tougher," said CEO Zhang Zhiyong on 19 March. "We will put our focus on enhancing the brand influence and providing value-added products to meet customer needs."

Zhang said the total number of Li Ning shops would reach around 8,000 this year and 10,000 by the end of 2013, compared to 7,249 at the end of last year.

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(Source: scmp.com)