Li-Ning reclaims Olympic partnership as Anta’s 16-year streak ends

On January 15, the Shanghai United Assets and Equity Exchange announced that Li-Ning has secured the partnership for the Chinese sports delegation’s apparel collaboration from 2025–2028. This marks a significant shift, as Li-Ning replaces Anta Sports as the official sportswear partner for the Chinese Olympic Committee (COC) and its delegates for the next four years.

Later that evening, Li Ning, the founder and chairman of his eponymous company, addressed employees in a rare internal letter. He expressed gratitude for their efforts and highlighted the brand’s commitment to supporting Chinese athletes at major global events, including the 2026 Winter Olympics in Milan and Cortina d’Ampezzo, the 2026 Asian Games in Aichi and Nagoya, and the 2028 Summer Olympics in Los Angeles.

As Li-Ning celebrated, Anta Group, which has partnered with Chinese Olympians for 16 years, issued its own statement. “We will broaden our investment to support the development of a strong sporting nation, continue to provide first-class sports equipment to 25 Chinese national teams, and fully promote our public welfare project ensuring lifelong security for outstanding athletes,” Anta told 36Kr.

On the same day, Anta’s chairman, Ding Shizhong, delivered a speech during the company’s 2024 annual summary meeting. He stressed the importance of a product-oriented culture and underscored the company’s commitment to innovation, stating, “Despite evolving business models, good products remain our foundation.”

The last time Li-Ning partnered with the Chinese Olympic Committee (COC) was over two decades ago. In 1990, the brand became a sponsor of the Beijing Asian Games, supplying official apparel for the torch relay and podium attire for the Chinese national team. Between 1992 and 2004, Li-Ning outfitted Chinese sports delegates at the Barcelona, Atlanta, Sydney, and Athens Olympics.

For the 2008 Beijing Olympics, however, Adidas won the Chinese delegation’s apparel contract with a RMB 1.3 billion (USD 182 million) bid. Despite this, Li Ning’s iconic moment—lighting the Olympic cauldron while “flying” through the air—stole the show and left many believing his namesake brand was the official sponsor.

When Adidas’s contract expired in 2009, Anta emerged as the COC’s partner, securing the 2009–2012 cycle with a USD 70 million bid. Anta’s partnership endured for 16 years, during which the company experienced a meteoric rise. Its revenue grew from RMB 5.87 billion (USD 821.8 million) in 2009 to RMB 62.36 billion (USD 8.7 billion) in 2023. The acquisition of Amer Sports during this period underscored Anta’s transformation into a global player, while the brand’s prominence at the 2022 Beijing Winter Olympics cemented its reputation in winter sports.

Industry experts agree that sponsoring the COC significantly bolstered Anta’s international standing, unlocking opportunities at premier global events. Zhang Qing, founder of sports consulting firm Key-Solution, said that Anta’s COC sponsorship played a pivotal role in elevating its brand value, especially as younger consumers embraced national pride. In Zhang’s view, involvement in major events like the Olympics allows professional sports brands to demonstrate their capabilities and positioning.

For the 2025–2028 cycle, Li-Ning secured the COC partnership for approximately RMB 800 million (USD 112 million), according to Lanxiong Sports. This significant investment marks a return to its roots as a professional sports brand, building on its leadership in the domestic “China-chic” fashion trend.

Li Ning, the company’s founder, has consistently reiterated the brand’s original mission: “My purpose in founding Li-Ning was to create a professional sports brand that supports China’s sports development and integrates the spirit of sports into the company’s operations.” His focus on a “single-brand, multicategory, multichannel” strategy contrasts sharply with Anta’s multi-brand approach.

In 2009, Anta acquired exclusive rights to the Italian brand Fila in Greater China for RMB 460 million (USD 64.4 million), kickstarting its multi-brand strategy. Over time, Fila became Anta’s top revenue generator, contributing more than half of its total revenue. This paved the way for acquisitions of brands like Kolon Sport, Descente, and Amer Sports. By early 2024, Descente’s operating profit margin had exceeded 30%, with Ding anticipating it to become the company’s third brand to surpass RMB 10 billion (USD 1.4 billion) in annual revenue.

Analysts often cite Anta’s diversified portfolio as a strength, providing resilience against market risks, while the flagship brand remains central to its identity.

In contrast, Li-Ning’s approach has centered on building its namesake brand. Since launching the “China Li-Ning” fashion line in 2018, the company’s brand value has surged, making it a formidable domestic competitor. However, the China-chic trend has waned as consumer preferences evolve, presenting a challenge for Li-Ning to maintain momentum across fashion and niche sports products.

In response, Li-Ning has doubled down on sports technology. Over the past decade, the company has invested more than RMB 3 billion (USD 420 million) in R&D to enhance its capabilities. “We must continue investing in sports research and professional product development,” said Li in his letter to employees. “Our goal is to provide athletes with world-class gear, enabling them to excel in training and competition.”

KrASIA Connection features translated and adapted content that was originally published by 36Kr. This article was written by Xie Yunzi for 36Kr.