Li Ning Company Ltd, one of the leading sports brand enterprises in China has acquired the exclusive license and concession for manufacturing series of products for Italian sports brand LottoSports in China for the next 20 years at a cost of round 930 million yuan.
According to the company officials, Li Ning and Lottosport inked the licensing agreement on July 31. According to the concession contract, Li Ning has the exclusive permission of developing, manufacturing, marketing, promotion, distribution and sales for Lottoport products in China. Li Ning has even got the special right to use Lotto trademark for next 20 years in the country.
Li Ning Board of Trustees expressed their contentment after winning Lotto license agreement and stated that it was in line with the company''s multi-brand management strategy. This will strengthen Li Ning's product supply in China and improve its position in sports fashion market. In addition, the agreement would also help reduce operating costs of the company.
Li Ning currently has four brands under its management, they are Li Ning, New Dynamic, AIGLE and Double Happiness.
source:Fibre2fashion
