From Olympic glory to entrepreneurial success
- Li Ning, an Olympic triple gold medallist, made a successful transition from his gymnastics career to create the sportswear brand Li-Ning in 1990
- Since then, he has embarked on a remarkable entrepreneurial journey and was recently honoured with the EY Entrepreneur Of The Year Award for his lifetime achievement
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The journey to becoming a successful gymnast goes beyond physicality and talent. Dedication, discipline, perseverance, mental strength, strategic planning, and, most importantly, pursuing one's dreams are all essential qualities.
Li Ning understands the power of pursuing dreams, having experienced it first-hand as a former Olympic gymnast. Now, as the Chairman and CEO of Viva Goods, he brings that same level of dedication and passion to the world of entrepreneurship.
The courage to pursue dreams
In China, Li Ning is a name that resonates with both sports enthusiasts and business leaders. He exemplifies the embodiment of an accomplished athlete who has transitioned into a successful entrepreneur.
"As an entrepreneur, having dreams, a forward-looking mindset, and the courage to take responsibility are essential. We must also be determined to pursue our dreams and invest in them," he says.
"In my case, I'm driven by a vision to establish Viva Goods as an outstanding brand operator with a dynamic global brand portfolio. We're passionate about promoting a stylish, joyful, healthy leisure lifestyle and creating offerings that benefit our customers' well-being."
Li's journey as a gymnast has greatly influenced his approach to business. The rigorous training he endured during his athletic career instilled in him a strong determination and resilience that he now applies to his entrepreneurial endeavours.
"As a former gymnast, I've encountered numerous challenges that have shaped me into the person I am today. These experiences have instilled in me the courage and resolve needed to face the obstacles and hardships of starting and running a business."
Li believes that entrepreneurship and sportsmanship share common traits. Both require individuals to have dreams, passion, courage and responsibility.
"Even though I have retired from gymnastics for over three decades, the spirit of sports remains ingrained in the fabric and operations of the company I helm.
"I strive to build a passionate team that faces challenges with courage and works collaboratively to achieve breakthroughs in business," he explains.
We believe that Viva Goods will become a more attractive investment target after the transfer of listing on the Main Board, which is expected to enhance its trading liquidity of the shares and increase its business associates’ confident in the Group’s financial strength. Additionally,
Harnessing the power of innovation and cultural creativity
Product design goes beyond style, comfort and quality alone. Innovation, sustainability, and cultural creativity are gaining significance to meet customers' evolving demands.
"Li-Ning" as a brand is committed to innovating professional sporting goods by leveraging advanced technologies backed by robust research and development efforts.
Li acknowledges the global shift towards sustainability in consumer preferences and is adapting its brand strategies accordingly to stay relevant in different markets.
Consumer preferences in certain markets are also shaped by cultural identity. This is particularly evident in China, where the Li-Ning brand and brands within Viva Group have integrated elements of sports with Chinese culture through their product designs that appeal to Chinese consumers.
"Meanwhile, we'll reinforce marketing efforts and continue to enhance our current sales network while expanding sales channels for the new 'bossini.X' brand."
For example, the Chinese cycling team sponsorship by "bossini.X" is a powerful platform to increase brand visibility. This partnership enables the seamless integration of cycling elements into the product design process, resulting in a range of innovative and functional offerings.
Navigating the opportunities and challenges of globalisation
As well as nurturing its home-grown brands, Viva Goods has acquired renowned brands like Clarks and TESTONI. Through these acquisitions, Viva Goods aims to enhance its market presence by infusing its own innovations into these iconic heritage brands.
And through these strategic acquisitions, Viva Goods has successfully expanded its business to nearly 80 countries across Europe, America, Asia-Pacific, and the Middle East.
Globalised supply chains enable businesses to access resources, such as raw materials, labour and professional knowledge, from around the world. This allows companies to allocate resources more effectively, improving operational efficiency and reducing costs.
"Globalisation also enables businesses to access talented managers from different regions, driving innovation and enhancing competitive advantage. It also leads to converging consumer preferences, allowing companies to develop products for a global audience."
However, he also acknowledges that globalisation poses challenges for Chinese enterprises, including adapting to different cultures and consumption habits in overseas markets and coping with global competition.
"To succeed in the global market, businesses must adapt to cultural diversity, navigate regulations and stay competitive. This opens up opportunities to reach larger consumer markets and tap into new markets," he says.
With determination and perseverance, anything is possible
In this rapidly evolving digital landscape, young individuals have a unique advantage. They are not only well-versed in the latest technologies but also have a deep understanding of the interconnectedness between businesses, markets and society.
"I'm impressed by the young generation of today. Their exceptional market insights, global perspective and tech savviness set them apart. With their ambitious dreams as fuel and the determination to push their boundaries, I believe that success is well within their reach."
Even with a good head start, entrepreneurship remains a challenging journey that requires immense effort and presents numerous difficulties and obstacles.
"Seize opportunities, pursue your dreams and passions, dare to take risks, and fully engage yourself," urges Li as he encourages young entrepreneurs to pursue their aspirations and make the most of the available opportunities.
With a deep understanding of the connection between sports and business, Li continues to inspire others to chase after their dreams. His journey serves as a testament to the fact that with determination and perseverance, anything is possible.