The Chinese company, facing increased competition in its home market, higher labor costs and an estimated 6-7% decline in annual revenues for FY11, intends to streamline its workforce and consolidate resources. Li Ning indicated that it would implement cuts in its core Li Ning brand marketing, sales and product divisions but suggested that there would be deeper cuts in its non-core brand operations. It also said it would implement cost controls in back-end functions such as IT, human resources and strategic development.

Among its other brands, Li Ning has two licenses of European brands: Aigle in outdoor products and Lotto in ... Log in to view full article.