| (For Immediate Release) |
Li Ning and AIGLE Creating a New Leader |
Beijing, July 3, 2005 --- Li Ning Company Limited ("Li Ning" or the "Company"; stock code: 2331), a leading sports brand enterprise in the PRC, and AIGLE International S.A. ("AIGLE"), a global outdoor sporting goods brand corporation, announced today their agreement to form a joint venture with the exclusive right to manufacture, market, distribute and sell for 50 years in the PRC, garment and footwear products for outdoor leisure activities and extreme sports that bear the trademarks filed or registered by AIGLE. Li Ning and AIGLE will each hold 50% shares of the joint venture. Leveraging on the strengths of its parent companies, both being industry giants, the joint venture is expected to generate synergies that eventually enhance the presence of both Li Ning and AIGEL. Commenting on the strategic partnership, Mr. Li Ning said, "We have decided to join together the respective strengths of the two in the sporting goods industry. AIGLE is a global player in the booming outdoor leisure market, whereas Li Ning is one of the strongest players in China with its highly recognized LI-NING brand, leading position in China's market and extensive sales and distribution networks. We believe that such long-term strategic joint venture is in line with Li Ning's multi-brand business objective and will help enhance the Company's market competitiveness. There is great synergy between Li Ning and AIGLE in China. We will benefit from AIGLE's popularity and world-class outdoor brand image." Mr. Yves Mouries, CEO of AIGLE, said, "LI-NING is a leading sports brand in China's rapidly growing sports industry and we are delighted to join forces with them to explore the outdoor sporting goods market in the PRC. This partnership fits well with our long-term strategy to partner with leading Chinese brands such as LI-NING to increase our relevance and reach throughout the China market." About Li Ning Company Limited Li Ning Company Limited ("Li Ning") is one of the leading sports brand enterprises in the PRC. It has its own branding, research and development, design, manufacturing, distribution and retail capabilities. Its products include sports footwear, apparel and accessories for sport and leisure use primarily sold under the Company's own LI-NING brand. Li Ning has been listed on the Main Board of the Hong Kong Stock Exchange since June 28, 2004. About the AIGLE AIGLE develops and sells garment, footwear products and related accessories for outdoor leisure activities and extreme sports (such as hiking, trekking, walking, mountaineering, skiing, fishing and other nautical sports, hunting, shooting) under its own brand name and trademarks throughout the world. AIGLE operates 131 stores worldwide, included 61 in France, 14 in Europe and 56 in Asia. It has been listed on the Second March of Euronext Paris (code Sicovam 5327 - code ISIN FR0000053274). - End - For further information, please contact: |