\u7531\u4f53\u64cd\u8fd0\u52a8\u5458\u674e\u5b81\u521b\u7acb\u7684\u540c\u540d\u8fd0\u52a8\u4ea7\u54c1\u5236\u9020\u96f6\u552e\u5546\u603b\u90e8\u4f4d\u4e8e\u5317\u4eac\uff0c\u57282002\u5e74\u81f32009\u5e74\u4e4b\u95f4\uff0c\u516c\u53f8\u8425\u6536\u589e\u52a0\u4e869\u500d\uff0c\u6bcf\u80a1\u6536\u76ca\u589e\u957f\u4e8610\u500d\u3002<\/div>\n
Named after its gymnast founder, the Beijing-based sports manufacturer\/retailer increased revenues by nine times, and earnings-per-share by ten, between 2002 and 2009.<\/div>\n<\/p>\n
\u7136\u800c\uff0c\u5230\u53bb\u5e741\u6708\u674e\u5b81\u5728\u8010\u514b\u7684\u5927\u672c\u8425——\u4fc4\u52d2\u5188\u5dde\u6ce2\u7279\u5170\u5e02\u5f00\u8bbe\u7b2c\u4e00\u5bb6\u7f8e\u56fd\u96f6\u552e\u5e97\u65f6\uff0c\u8fd9\u79cd\u53d1\u5c55\u5b9a\u5f0f\u7684\u5f0a\u7aef\u5f00\u59cb\u663e\u73b0\u65e0\u7591\u3002<\/div>\n
By January last year, though, as Li Ning opened its first US store in Portland, Oregon – Nike’s backyard – the flaws in the routine were becoming obvious.<\/div>\n<\/p>\n
\u674e\u5b81\u6253\u9020\u4e86\u4e2d\u56fd\u6700\u5927\u7684\u8fd0\u52a8\u54c1\u724c\u9500\u552e\u7f51\u7edc\uff0c\u62e5\u67097748\u5bb6\u96f6\u552e\u5e97\u94fa\uff0c\u4f46\u5176\u4e2d\u53ea\u6709474\u5bb6\u7531\u674e\u5b81\u516c\u53f8\u76f4\u63a5\u7ba1\u7406\uff0c<\/div>\n
Li Ning had built the biggest sports brand sales network in China, with 7,748 outlets. Just 474 were managed directly,<\/div>\n<\/p>\n
\u5176\u4f59\u7684\u5e97\u94fa\u4e2d\u670960%\u7531\u7ea62000\u5bb6\u7f3a\u4e4f\u7ecf\u9a8c\u7684\u96f6\u552e\u5546\u8fd0\u8425\uff0c\u4ed6\u4eec\u4e0d\u613f\u610f\u964d\u4ef7\u6e05\u7a7a\u8fc7\u5b63\u5b58\u8d27\uff0c\u56e0\u6b64\u7559\u7ed9\u65b0\u6b3e\u9ad8\u4ef7\u4ea7\u54c1\u7684\u7a7a\u95f4\u5f88\u5c11\u3002<\/div>\n
though; 60 per cent of the remainder were run by about 2000 inexperienced retailers who were reluctant to cut prices to shift old inventory, leaving little room for new, higher-priced products.<\/div>\n<\/p>\n
\u53bb\u5e746\u6708\uff0c\u8ba2\u5355\u75b2\u8f6f\u95ee\u9898\u59cb\u7ec8\u672a\u80fd\u89e3\u51b3\u7684\u674e\u5b81\u5bf9\u5546\u6807\u8fdb\u884c\u4e86\u8f7b\u5fae\u6539\u52a8\uff0c\u5e76\u63a8\u51fa\u4e86\u65b0\u53e3\u53f7\uff1a“Make the change”\uff08\u8ba9\u6539\u53d8\u53d1\u751f\uff09\u3002<\/div>\n
In June, confronting persistently weak order books, Li Ning gave itself a slightly different logo and a new slogan, “Make the change”.<\/div>\n<\/p>\n
\u6295\u8d44\u8005\u6b63\u662f\u8fd9\u6837\u505a\u7684\u3002\u53ea\u629b\u552e\u674e\u5b81\uff08\u81ea\u90a3\u4ee5\u6765\u80a1\u4ef7\u5df2\u4e0b\u8dcc42%\uff09\uff0c\u4e5f\u629b\u552e\u5b58\u5728\u7c7b\u4f3c\u5206\u9500\u95ee\u9898\u7684\u5176\u4ed6\u5236\u9020\u5546\u548c\u96f6\u552e\u5546\uff0c\u5982\u5b89\u8e0f(Anta)\u3001\u7279\u6b65(Xtep)\u548c361\u5ea6(361 Degrees)\u7b49\u3002<\/div>\n
Investors did just that, selling not just Li Ning (down 42 per cent since then) but rival manufacturer\/retailers with similar distribution problems like Anta, Xtep and 361 Degrees.<\/div>\n<\/p>\n
\u5728\u6b64\u671f\u95f4\u552f\u4e00\u4e0a\u6da8\u7684\u4e2d\u56fd\u8fd0\u52a8\u670d\u88c5\u7c7b\u80a1\u7968\u662f\u5b9d\u80dc(Pou Sheng)\uff0c\u5176\u80a1\u4ef7\u4e0a\u6da8\u4e8637%\u3002\u5b9d\u80dc\u662f\u4e00\u5bb6\u7eaf\u96f6\u552e\u5546\uff0c\u7ecf\u9500\u8010\u514b\u3001\u963f\u8fea\u8fbe\u65af(Adidas)\u3001\u9510\u6b65(Reebok)\u548c\u5f6a\u9a6c(Puma)\u7b49\u54c1\u724c\u7684\u5927\u578b\u96f6\u552e\u5e97\u3002<\/div>\n
The only Chinese sportswear stock in positive territory over that period is pure retailer Pou Sheng ( 37 per cent), a big outlet for Nike, Adidas, Reebok and Puma.<\/div>\n<\/p>\n
\u5982\u679c\u80fd\u5411\u504f\u7231\u7684\u7279\u8bb8\u7ecf\u9500\u5546\u518d\u51fa\u8ba9\u51e0\u4e2a\u767e\u5206\u70b9\u7684\u6279\u53d1\u6298\u6263\uff0c\u674e\u5b81\u6216\u8bb8\u80fd\u5728\u672a\u6765\u4e24\u5e74\u5bf9\u56fd\u5185\u5206\u9500\u7f51\u7edc\u8fdb\u884c\u5408\u7406\u5316\u6539\u9769\u7684\u540c\u65f6\u4fdd\u4f4f\u5e02\u573a\u4efd\u989d\u3002<\/div>\n
Handing favoured franchisees another few percentage points of wholesale discounts could protect Li Ning’s market share while it rationalises domestic distribution over the next two years.<\/div>\n<\/p>\n
\u4f46\u8010\u514b\u4e5f\u4f1a\u5728\u8f7b\u677e\u6210\u4e3a\u5176\u6700\u76c8\u5229\u5e02\u573a\u7684\u4e2d\u56fd\u5927\u4e3e\u6295\u8d44\u3002<\/div>\n
But Nike will also be spending heavily in what is easily its most profitable territory.<\/div>\n<\/p>\n
\u4e0e\u6b64\u540c\u65f6\uff0c\u745e\u4fe1(Credit Suisse)\u6709\u5173\u4e2d\u56fd\u8fd0\u52a8\u670d\u88c5\u6d88\u8d39\u7684\u6570\u636e\u663e\u793a\u4e86\u674e\u5b81\u9762\u4e34\u7684\u6311\u6218\u96be\u5ea6\u3002<\/div>\n
Meanwhile, Credit Suisse data on Chinese sportswear consumption shows the scale of Li Ning’s challenge.<\/div>\n<\/p>\n
\u5f53\u5bb6\u5ead\u6708\u6536\u5165\u8d85\u8fc77000\u5143\u4eba\u6c11\u5e01\uff08\u54081000\u7f8e\u5143\uff09\u65f6\uff0c\u4e2d\u56fd\u6d88\u8d39\u8005\u7684\u504f\u597d\u4fbf\u4f1a\u4ece\u56fd\u5185\u54c1\u724c\u8f6c\u5411\u56fd\u5916\u54c1\u724c\u3002<\/div>\n
Preferences switch from domestic brands to foreign as monthly household income exceeds Rmb7000 ($1000).<\/div>\n<\/p>\n
\u548c\u5176\u5b83\u5927\u989d\u6d88\u8d39\u54c1\u4e00\u6837\uff0c\u5728\u8fd0\u52a8\u978b\u548c\u8fd0\u52a8\u80cc\u5fc3\u5e02\u573a\uff0c\u4e2d\u56fd\u90a3\u4e9b\u60f3\u8981\u6210\u4e3a\u5168\u7403\u51a0\u519b\u7684\u4f01\u4e1a\u4f3c\u4e4e\u8fd8\u8fdc\u672a\u5f81\u670d\u672c\u571f\u5e02\u573a\uff0c\u66f4\u4e0d\u7528\u8bf4\u5176\u5b83\u56fd\u5bb6\u4e86\u3002<\/div>\n
In sneakers and vests, as in bigger-ticket items, China’s would-be global champions seem a long way from conquering their own turf, let alone anyone else’s.<\/div><\/p>\n