Seizing the sports market with "professional sports", Li - Ning is exerting its core strength and achieving better "results" in the first half of 2024.
From the perspective of categories, during the reporting period, the revenue of Li - Ning's three core professional categories of running, basketball, and fitness accounted for 66%, reaching a five - year high for the same period. Among them, the running category became the category with the highest growth rate in revenue, with a year - on - year increase of 25%. In terms of product distribution, the technical and product development capabilities of sports shoes have become Li - Ning's core competitiveness.
In the first half of 2024, thanks to the continuous consolidation of the professional product matrix and the expansion of new scenarios, new populations, and new markets, the revenue proportion of Li - Ning's shoe products reached 54.7%. In terms of series, the total sales of Li - Ning's three star series, Ultra Light, Chi Tu, and Fei Dian, exceeded 5 million pairs in the first half of 2024. Among them, the professional running shoe Chi Tu 7PRO sold more than 1.9 million pairs in the first half of the year, a significant year - on - year increase.
It is worth noting that, looking at a longer period, Li - Ning is showing its rising potential in the "running" field: the revenue proportion of Li - Ning's shoe products increased from 46.5% in the first half of 2018 to 54.7% in the same period in 2024; in the first half of 2024, Li - Ning's shoe business revenue reached 7.84 billion yuan, about 3.6 times that of the same period in 2018.
Li - Ning, which focuses on "running", has also received positive feedback from the competition field. In the first half of 2024, Li - Ning's professional running shoe products helped elite athletes achieve 30 championships and 56 podiums, creating multiple national records and personal best results, speeding up the marathon results of Chinese - brand running shoes to the "2:03 era" (2 hours and 3 minutes).
In Qian Wei's view, the improvement of Li - Ning's "running" category is mainly due to strong consumer demand, Li - Ning's improvement of the professional running shoe matrix, and the effective layout of the product plan and sales plan of the running shoe product matrix by the team.
Regarding the display of Li - Ning's achievements in sports technology innovation over the past 30 years, Qian Wei said, "Li - Ning is a professional sports brand. The pursuit of sports demand and sports performance has always been the core driving force for Li - Ning's growth."
Layout of "New Fields and New Markets"
While focusing on "running", Li - Ning is growing into a "versatile warrior". In addition to continuing to focus on the five core categories of basketball, running, fitness, badminton, and sports life, all - round layout has become the development focus of Li - Ning in recent years.
In the first half of 2024, the "Soft" series, which Li - Ning specially created for the general consumers focusing on walking and commuting needs, sold more than 1 million pairs, with a year - on - year growth of nearly 4 times. In addition, Li - Ning continues its own professional sports genes, combines professional technology, trendy culture, and oriental aesthetics.
Actively embracing new fields, Li - Ning has also made plans for the construction of new fields and new markets. It is reported that Li - Ning is currently planning to take the lead in cutting into new tracks of sports consumption, mining the huge potential of the women's, outdoor, and youth markets, formulating targeted marketing strategies, and launching products that meet the needs of target groups.
The Consumer Titanium Degree further learned from Li - Ning that Li - Ning has started frequent moves in new fields and new markets in the first half of 2024.
To meet the needs of female consumers, Li - Ning launched the first women - exclusive running shoe, "Jinghong", in the first half of the year, becoming a brand that rarely has a running shoe IP dedicated to women in the market; in terms of women's fitness, Li - Ning polished professional products with both sports functions and fine touch in the first half of the year, continuously developing multi - scene fitness suits with both female - functional technology and sports - cutting attributes.
Focusing on the youth market, Li - Ning starts from two aspects: developing Li - Ning YOUNG business and continuously laying out youth sports. Li - Ning YOUNG clarifies the core competitiveness of clothing and accessories and improves the shoe product matrix. At the same time, it makes efforts in various subdivided fields such as outdoor, comprehensive physical fitness, swimwear, and new categories of accessories; continuously investing in youth sports, Li - Ning is the exclusive operation and promotion merchant and the only sports equipment sponsor of the Chinese Primary School Basketball League, the strategic partner and the only designated sports equipment sponsor of the Chinese Junior High School Basketball League and the Chinese Middle School Students Basketball Championship junior group...
Li - Ning, with comprehensive development, has a positive outlook for the future. Li - Ning, the executive chairman and co - administrative president of Li - Ning Group, said: "The country's series of policies to deepen market reforms are being solidly promoted, which will provide a fair and more dynamic market environment for the group and open up broader growth space.
This article comes from the creator of Tencent News Client.
