In April 2015, several Li Ning stores in key business areas were reported to have shut down, signaling a growing crisis for the Chinese sportswear giant. Despite the overall recovery of the sports goods industry, Li Ning has struggled with declining sales and mounting losses. According to its annual report released at the end of March 2015, the company had suffered losses for three consecutive years, with last year's loss reaching 781 million yuan. This financial downturn has led to store closures, including one on Quancheng Road in Jinan’s bustling commercial district.
The Li Ning store on Quancheng Road, once a prominent location, was found closed without any notice or sign of temporary closure. While the brand's logo still hung outside, the store remained shuttered. Nearby, other major sportswear brands such as Anta, 361, Hongxing Erke, and Xtep continued to operate successfully. A nearby shop employee mentioned that the Li Ning store had been closed for a long time, suggesting poor performance.
Another Li Ning outlet located on the first floor of Block A in Shangang Road Cyberport Building also closed its doors. The entrance was marked with rental signs, indicating the space was available for lease. According to insiders, this store had been empty for over a year. Similarly, at Lishan Outlets Shopping Plaza, staff confirmed that Li Ning had exited the market nearly a year ago. However, no sign of a Li Ning store could be found on Shanshi East Road, a popular area among young consumers.
Once considered a top domestic sportswear brand, Li Ning was known for its premium pricing, comparable to international giants like Nike and Adidas. However, the rise of e-commerce has significantly impacted physical retail sales. Many consumers now prefer shopping online, leading to heavy discounts in brick-and-mortar stores. College student Xiao Li noted that many people try products in-store but ultimately purchase them online.
Li Ning’s struggles in Jinan are not isolated. According to its 2014 financial report, the company lost 781 million yuan that year. By the end of 2014, Li Ning operated 5,626 stores, a net decrease of 289 from the previous year. The number of dealers also dropped by four, from 55 to 51. Additionally, inventory levels soared to 1.289 billion yuan, up nearly 40% from 942 million yuan in 2013. These figures highlight the challenges facing the brand as it attempts to adapt to shifting consumer habits and market conditions.
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