Li Ning cashes in on marketing coup
11/08/2008
Former Olympic gold medalist, Li Ning, is $30 million richer after his spectacular role in the opening ceremony at this year’s games, according to Reuters.
Shares in Mr Li’s sports apparel and footwear company, which carries his own name, have risen sharply on the Hong Kong stock exchange since his appearance at the conclusion of the ceremony on August 8.
Media in China have also suggested that the publicity from the event could help Li Ning close the gap on adidas and Nike in the Chinese sports apparel and footwear market. Li Ning’s share is currently estimated at 10.5%, while adidas has 15.6% and Nike 16.7%.
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