In April 2015, several Li Ning stores in key commercial areas were reported to have shut down, signaling a deeper crisis for the Chinese sportswear giant. Despite a general recovery in the sports goods industry, some domestic brands, including Li Ning, faced significant challenges. The company’s annual report at the end of March 2015 revealed that it had suffered losses for three consecutive years, with last year's loss reaching 781 million yuan. This financial downturn has led to store closures, raising concerns about the brand's future.
One such example is the Li Ning store on Quancheng Road in Jinan, located in the city's main business district. While the store’s logo remains visible, the shop has been closed for nearly a month, with no official notice or sign explaining the closure. Nearby, other sports brands like Anta, 361°, Hongxing Erke, and Xtep continue to operate, highlighting the contrast in performance.
A nearby store employee mentioned that the Li Ning location on Quancheng Road had been closed for a long time, suggesting poor sales. Another Li Ning outlet on the first floor of Block A in Shangang Road Cyberport Building was also closed, with rental signs displayed on the entrance. According to insiders, this store had been vacant for over a year.
Similarly, in Lishan Outlets Shopping Plaza, staff said that Li Ning had pulled out almost a year ago. However, there is no sign of a Li Ning store on Shanshi East Road, a popular area among young consumers.
Once considered a top-tier domestic sportswear brand, Li Ning used to compete with global giants like Nike and Adidas in terms of pricing. However, the rise of e-commerce has significantly impacted its physical retail performance. Many consumers now prefer to try products in-store but purchase them online, which has hurt traditional brick-and-mortar sales.
The situation in Jinan is not isolated. According to Li Ning’s 2014 financial report, the company recorded a loss of 781 million yuan. As of December 31, 2014, the total number of its stores—regular, flagship, factory, and discount outlets—had decreased by 289 to 5,626 compared to the previous year. Additionally, the number of dealers dropped by four to 51. The company’s inventory also rose sharply, reaching 1.289 billion yuan, up nearly 40% from 942 million yuan in 2013.
These figures indicate that Li Ning is struggling to adapt to changing consumer habits and market dynamics, and its recent store closures are a clear reflection of these challenges.
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