Li Ning Lights Olympic Flame

Li Ning lit the Olympic flame Friday during the Opening Ceremonies in spectacular fashion. Li won six medals, including three golds, in men's gymnastics at the 1984 Los Angeles Games. Li is also founder and CEO the eponymous Li Ning Company (See Web site), the premier Chinese sportswear brand. I wonder how Adidas, one of the major Olympics sponsors, feels about their biggest Chinese competitor lighting the torch? Global sportswear giants like Nike and Adidas spent heavily to sponsor Chinese teams ahead of the Olympics Games, but the Li Ning Group turned the tables. It is an official apparel sponsor of the U.S. national table tennis team, making it the first Chinese company to supply a U.S. national team. Li Ning will provide the U.S. team with uniforms and other gear for the next five years. (See related MarketWatch story.)... [read full story]