Chinese sports brand Li Ning will test the U.S. market with its first retail outlet outside of Asia by opening a store next month in Nike's backyard, the company disclosed.
The company, which competes with much larger Nike and adidas in mainland China, has set up an R&D facility in Portland, OR to be close to its supply chain in Asia, according to Reuters and other media outlets. It will open the Portland store in January to test U.S. appetite for its apparel, footwear and other sporting goods.
For the six months ended 30 June 2009, the Li Ning Group Ltd's revenue grew by 32.4% to RMB4,051.9 million ($593.6mm). Accounting for 92.2% of the total revenue, sales of the LI-NING brand grew by 24.5% to RMB3,736.9 million ($547.4mm). Profit attributable to equity holders rose by 41.6% to ($69.21mm).
