Chinese sporting goods brand giant Li Ning Company Ltd reported revenue grew by 13.0% in 2010, to RMB9.48 billion ($1.43 bn). Profit attributable to equity holders reached RMB1.1 billion ($167 mm), up 17.4% from 2009.
The Group's core Li-Ning brand achieved revenue of RMB8.74 billion ($1.31 bn), representing an increase of 13.5% as compared with 2009. Among the different product categories, footwear sales grew 10.3% to RMB3.83 billion ($583 mm). Apparel revenues climbed 15.7% to RMB4.38 billion ($667 mm). Equipment/accessories sales climbed 20.6% to RMB520.7 million ($79 mm). China represented 98.6% of sales for the Li-Ning brand, with 83.8% coming from wholesale accounts and 14.8% from directly-operated retail stores. International accounted for 1.4% of revenues, up from 1% in 2009, with the growth coming from Southeast Asia.
For the Double Happiness equipment brand, sales grew 7.3% in 2010 to RMB458.3 million ($61 mm).