Li Ning to Sell 25% Stake to Sports TalentFirm

　　中国运动服装巨头李宁有限公司将把25%的股份出售给非凡中国控股有限公司。在中国服装市场竞争加剧之际，李宁公司正努力进行大规模业务整顿。

　　香港证券交易所公告显示，由李宁公司创始人李宁控股的非凡中国将出价13.6亿港元（合1.75亿美元）收购李宁公司四分之一的股份。非凡中国是从投资控股公司Victory Mind Assets Ltd.和Dragon City Management Ltd.收购这些股份的。这两家投资控股公司由李宁和其兄李进控制。

　　李宁目前正在进行大规模业务调整，更换了高层主管，并将品牌重新定位；这是该公司为提高盈利能力、扩大中国服装市场占有率而实施的三年转型计划的一部分。 李宁公司上周五宣布公司首席财务官辞职；这是最近几个月来该公司高层一系列调整的最新变动。

　　BEIJING—Chinese sportswear giant Li Ning Co. is selling off 25% of the company to sports talentfirm Viva China Holdings Ltd. as Li Ning attempts to overhaul its business amid fierce competition inChina's apparel market.

　　Viva China, controlled by Li Ning's namesake Olympic gymnast founder, will buy the quarter-stakeof Li Ning for $1.36 billion Hong Kong dollars (US$175 million), according to a statement to HongKong's stock exchange, where Li Ning is listed. Viva China is buying the stake from investmentholding companies Victory Mind Assets Ltd and Dragon City Management Ltd, both controlled byLi Ning and his brother, Li Chun.

　　Li Ning is in the midst of a major business overhaul, replacing its senior management andrepositioning its brand as a part of a three-year transformation program aimed at improvingprofitability and taking broader market share in China's apparel market.

　　The Beijing-based shoe and apparel company announced Friday the resignation of its chief financialofficer, the latest in a string of senior management changes that has taken place over severalmonths.

　　In July, Li Ning announced plans to replace its veteran chief executive with its founder Li Ning, aformer gold-medal winning Olympic athlete. It also appointed a top executive from U.S. buyoutfirm TPG Group to oversee the company's transition.

　　Sports apparel makers selling to China's 1.34 billion consumers have struggled with managinginventory amid increased competition in the country's apparel market. Companies such as NikeInc. and Li Ning were among the first to distribute their clothes across China, making availablebrands with mass appeal. But in recent years, as companies such as Swedish fast fashion brandHennes & Mauritz and U.S. clothing company Gap Inc. have piled into the market, competition forsportswear companies has increased as there are now more options for consumers.

　　Li Ning was also among the many sportswear company that anticipated greater sales following the 2008 Beijing Olympics and purchased excess clothing that it was unable to clear from the shelvesof its stores.

　　TPG managers have said they've been clearing Li Ning's excess athletic shorts and T-shirts andhave been moving to gain more direct control of stores.