In order to keep up the pace for the 2008 Beijing Olympic Games, local sports goods retailer Li-Ning plans to increase its total store number to 5600 by next year and make it reach 6100 by 2009, which is 400 more than earlier scheduled.
Apart from opening more stores, Li-Ning has also launched a new brand to expand its business. Zhang Zhiyong, administrative executive of Li-Ning, introduced that Li-Ning launched a new sports brand Z-do in April this year and began to sell the goods of Z-do at over 70 large retailing sites like Wal-Mart and Jingkelong. Zhang said though the gross profit rate of about 40% for the new brand is currently lower than that of the Li-Ning brand, it is estimated to reach about 47%-48% for the entire year.
Zhang said that Li-Ning had met its scheduled goal of new store openings in the first four months of this year and their growth is estimated to reach 11% for the whole year.
During the past May golden week, Li-Ning's sales increased by 25%.