"The first phase of the measures, the company has begun to start, including focusing on retail terminal sales and clean-up channel inventory, improve product and operating cost structure, strengthen organizational and implementation capabilities, improve channel efficiency, profitability and performance, focus on core products and The domestic market, as well as strengthening brand investment and improving marketing efficiency.†Li Ning’s announcement pointed out.
Yesterday (July 10), Li Ning announced the latest rectification plan and included plans for the next two to four years. The plan will be implemented in three phases.
An industry source who has followed Li Ning for a long time told reporters: “This plan of Li Ning belongs to the strategic level. On the one hand, it solves its urgent needs. On the other hand, it also indicates that Li Ning will develop from a low attitude towards value competition.â€
"The first phase of the measures, the company has begun to start, including focusing on retail terminal sales and clean-up channel inventory, improve product and operating cost structure, strengthen organizational and implementation capabilities, improve channel efficiency, profitability and performance, focus on core products and The domestic market, as well as strengthening brand investment and improving marketing efficiency.†Li Ning’s announcement pointed out.
The aforementioned industry sources pointed out that Li Ning's current problem is a serious inventory backlog.
According to Li Ning's annual report data, the average inventory turnover days of the company for the whole year of 2011 were 73 days, an increase of 21 days compared with the 52 days of the previous year, which was almost double that of ANTA Sports with the fastest turnover rate. The report shows that Li Ning stocks It was 1.133 billion yuan, an increase of 40.64% from 2010's 806 million yuan.
"Only the stocks are cleaned up and the channels are healthy before they can talk about other plans. Otherwise, everything is empty talk," said the person in the industry.
According to the 2011 annual report of Li Ning Company, the annual operating income was 8.929 billion yuan, a decrease of 500 million yuan over the previous year. In the same period, Anta's operating profit was 8.904 billion yuan, while Xtep, 361 degrees and Peak were 5.54 billion yuan, 5.568 billion yuan and 4.65 billion yuan respectively.
In fact, from a profit perspective, Anta’s 2011 net profit was similar to that of Li Ning, which reached a net profit of 1.73 billion yuan, while Li Ning Company was only 386 million yuan. The main reason was that the company’s cost was not effectively controlled and the distribution cost was And administrative expenses amounted to 3.223 billion yuan.
Independent commentator Ma Gang pointed out that Li Ning’s gradual loss of competition with domestic sports brands was due to its busy struggle with international brands such as Adidas and Nike, and domestic brands gradually occupied its original market.
When Li Ning sighted more than 400 yuan in the middle and high-end market and opposed the company with Adidas and other companies, while domestic brands gradually seized the original resources of Li Ning, such as Adidas and other well-known multinational companies have begun the layout in the second and third tier cities.
Adidas announced an additional 2,500 stores in 2010, covering 1,400 cities, including a large number of small cities with a population of 50,000 to 500,000. In the first half of 2011, sales of Adidas Greater China increased by 38%, and sales of 552 million euros also refreshed the region's previous records.
"Li Ning's brand positioning is between the global high-end brand and the domestic mass market brand. This kind of situation with no clear value positioning and stuck in the middle is risky." Goldman Sachs once commented on Li Ning. Ma Gang also pointed out that "the problem of Li Ning's unclear positioning has left room for competitors."
An industry source who has followed Li Ning for a long time told reporters: “This plan of Li Ning belongs to the strategic level. On the one hand, it solves its urgent needs. On the other hand, it also indicates that Li Ning will develop from a low attitude towards value competition.â€
"The first phase of the measures, the company has begun to start, including focusing on retail terminal sales and clean-up channel inventory, improve product and operating cost structure, strengthen organizational and implementation capabilities, improve channel efficiency, profitability and performance, focus on core products and The domestic market, as well as strengthening brand investment and improving marketing efficiency.†Li Ning’s announcement pointed out.
The aforementioned industry sources pointed out that Li Ning's current problem is a serious inventory backlog.
According to Li Ning's annual report data, the average inventory turnover days of the company for the whole year of 2011 were 73 days, an increase of 21 days compared with the 52 days of the previous year, which was almost double that of ANTA Sports with the fastest turnover rate. The report shows that Li Ning stocks It was 1.133 billion yuan, an increase of 40.64% from 2010's 806 million yuan.
"Only the stocks are cleaned up and the channels are healthy before they can talk about other plans. Otherwise, everything is empty talk," said the person in the industry.
According to the 2011 annual report of Li Ning Company, the annual operating income was 8.929 billion yuan, a decrease of 500 million yuan over the previous year. In the same period, Anta's operating profit was 8.904 billion yuan, while Xtep, 361 degrees and Peak were 5.54 billion yuan, 5.568 billion yuan and 4.65 billion yuan respectively.
In fact, from a profit perspective, Anta’s 2011 net profit was similar to that of Li Ning, which reached a net profit of 1.73 billion yuan, while Li Ning Company was only 386 million yuan. The main reason was that the company’s cost was not effectively controlled and the distribution cost was And administrative expenses amounted to 3.223 billion yuan.
Independent commentator Ma Gang pointed out that Li Ning’s gradual loss of competition with domestic sports brands was due to its busy struggle with international brands such as Adidas and Nike, and domestic brands gradually occupied its original market.
When Li Ning sighted more than 400 yuan in the middle and high-end market and opposed the company with Adidas and other companies, while domestic brands gradually seized the original resources of Li Ning, such as Adidas and other well-known multinational companies have begun the layout in the second and third tier cities.
Adidas announced an additional 2,500 stores in 2010, covering 1,400 cities, including a large number of small cities with a population of 50,000 to 500,000. In the first half of 2011, sales of Adidas Greater China increased by 38%, and sales of 552 million euros also refreshed the region's previous records.
"Li Ning's brand positioning is between the global high-end brand and the domestic mass market brand. This kind of situation with no clear value positioning and stuck in the middle is risky." Goldman Sachs once commented on Li Ning. Ma Gang also pointed out that "the problem of Li Ning's unclear positioning has left room for competitors."
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