Li Ning plans to expand its sales network to 10,000 outlets by 2013, as the mainland's top sportswear maker remains upbeat about industry prospects despite the end of the Olympic Games.
'We are not worried about the possibility of a slowdown as there is still a lot of room for us to expand in second and third-tier cities,' chief executive Zhang Zhiyong said.
The company, founded by the legendary gymnast of the same name, had a total of 6,393 outlets at the end of June. Most of its stores are owned by distributors.
The company reported first-half net profit jumped 68.3 per cent to 333.73 million yuan (HK$381.59 million) on Wednesday.
The expansion plan eases some analysts' concerns that there could be limited potential for the sportswear company to open more stores given that it has already been on a fast-growth trajectory.
'The expansion plan demonstrates the company's confidence in the market but its effectiveness remains to be seen,' said Guotai Junan Securities (Hong Kong) analyst Tiffany Feng.
Mr Zhang said Li Ning also aimed to double same-store sales growth, a key industry measure of competitiveness, by 2013 as it seeks sustainable development to balance expansion and store efficiency.