Li Ning Strategically Abandons Marketing of London Olympic Games
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In the continued high inventory and revenue decline, in late June, Li Ning announced to obtain the CBA league name rights for 5 years. In the industry's view, the ownership of the sponsorship rights has been settled, basically confirming that Anta Sports (2020.HK) will no longer have the potential to sponsor the COC sponsorship rights.
Specifically, after sponsoring the CBA league seven years later, due to Li Ning’s continuous increase in title fees for the next five seasons, ANTA Sports chose to withdraw from the CBA sponsorship competition. Because of the "big bleeding" for the CBA, the total amount of sponsorship may be as high as 2 billion yuan, Li Ning is also unable to compete for the COC next four years of sports brand sponsorship rights.
The original sponsorship right was announced at the end of 2012. Now that Anta Sports has lost its CBA, the State General Administration of Sport should be able to push the boat. As long as Anta's prices are satisfactory to the COC, Anta will continue to retain the COC's 2013-2016 sponsorship qualification.
After resolving the scramble for sports resources of the event, Li Ning took back from the outside and focused on solving the company's internal operational difficulties.
In early July, Li Ning announced that the company’s original CEO Zhang Zhiyong was retired. The founder, Chairman Li Ning and the company’s second largest shareholder TPG Managing Director Jin Zhenjun jointly led the company to achieve three focuses: focusing on core brands, core businesses, and core markets.
Li Ning told the "China Business" reporter that the so-called "focus on the core brand" is the first to do Li Ning licensing, "focus on the core business" is to re-establish Li Ning brand as a professional sports brand positioning, "focus on the core market" is It is clear that Li Ning must first base itself on the Chinese market.
Obviously, for Li Ning, which has continued to decline in profits and face huge future expenditures, it is a strategic move to abandon London.
According to insider Li Ning, as early as the end of last year, Li Ning still plans to flex its feet in London - the company plans to prepare a news center in London and use the company's long-sponsored five Chinese Olympic team gold medal team to hold a series of Activities, to obtain another Olympic marketing victory after the 2008 Olympic Games "ambush marketing".
However, when the company’s board of directors confirmed the “focusing†strategy, the importance of London to Li Ning has been only a tactical move. It has become an internal consensus of the company to abandon the “cost-for-money†action that is costly and unpredictable for dissemination.
It was under the guidance of such strategic thinking that Li Ning, who once ignited the main torch tower of the Bird's Nest at the Beijing Olympics and created a wonderful artistic conception of "Kua Fu's Day by Day," was only invited by the Greek Olympic Committee to become the Olympic Torch Relay. Greece torched a torchbearer.
From "daily" to "taking profits," reality is so cruel.
Of course, for Li Ning, choosing a London Olympic marketing that was strategically abandoned is not going to happen. Li Ning sponsored projects such as the Belgian javelin prince and women's pole vault, all have the strength to win gold, and may even be the first Olympic medal sponsored by overseas sports sponsors for Chinese sports brands.
At the same time, Li Ning’s five Chinese Olympic gold medal teams—gymnastics, shooting, table tennis, diving, and badminton—still have the strength to wear Li Ning’s uniforms on the field, winning 20 gold medals for the Chinese Olympic team and occupying the Chinese Olympics. More than half of the army’s final gold medal standings.
There will be a rainbow after the storm. Li Ning made a more pragmatic choice, and it was precisely for the purpose of speeding up and restarting again.
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