Li-Ning Boston Consulting Group Matrix

Li-Ning's Sports Equipment and Accessories division saw impressive growth, with revenue climbing 23.7% in the first half of 2025. This robust performance signals a strong uptick in consumer interest and purchasing within this product segment. The significant revenue jump suggests Li-Ning is effectively capitalizing on this expanding market, likely securing a competitive edge in key areas.

Li-Ning's Olympic partnership and its focus on premium performance sportswear firmly place these segments within the Stars category of the BCG Matrix. These areas demonstrate high growth and strong market share, driven by strategic investments and significant consumer interest.

The company's role as the official sportswear provider for the Chinese Olympic Committee from 2025 to 2028 is a prime example, leveraging national pride and sporting events for substantial brand visibility and sales of themed merchandise. Similarly, the premium performance sportswear segment, with its projected 9.7% CAGR in China through 2030, benefits from Li-Ning's commitment to R&D and technical innovation.

These "Stars" are crucial for Li-Ning's future growth, representing areas where the company can solidify its market leadership and generate significant revenue. The success in running footwear, with a 25% sales surge in 2024 and over 10.6 million pairs sold across key lines, further reinforces the strength of these high-performing categories.

Li-Ning's badminton and table tennis product lines are firmly established as Cash Cows within its BCG matrix. These categories represent core strengths for the company, indicating a significant market share and a dominant position in China's domestic sports market for these particular sports.

While the growth rate in badminton and table tennis might be more moderate compared to newer, high-growth areas, they consistently deliver stable and predictable revenue. This stability means they require minimal aggressive investment to maintain their market leadership, acting as reliable profit generators for Li-Ning.

Li-Ning's general sports lifestyle apparel segment, despite a slight market contraction in 2024, remains a cornerstone of its business. This category, characterized by its broad appeal beyond elite athletic performance, benefits from Li-Ning's deep-rooted brand loyalty and extensive retail network across China. Such established market penetration typically ensures a consistent demand, even in mature segments.

These lifestyle-oriented products, often less reliant on cutting-edge innovation, contribute significantly to Li-Ning's stable cash flow. The mature nature of this segment means that while growth may be modest, the market share held by Li-Ning is likely substantial and defensible, requiring comparatively lower investment in marketing and product development compared to high-growth categories.

Li-Ning's established offline retail network, comprising conventional stores, flagship locations, and factory outlets, functions as a core cash cow. While strategic adjustments led to a slight reduction in store count, these optimized physical locations, especially in prime high-tier markets, continue to be a reliable source of steady revenue and robust cash flow. This channel's performance reflects a mature business segment prioritizing operational efficiency over rapid expansion, a hallmark of a cash cow.

Li-Ning's badminton and table tennis product lines are firmly established as Cash Cows within its BCG matrix. These categories represent core strengths for the company, indicating a significant market share and a dominant position in China's domestic sports market for these particular sports.

While the growth rate in badminton and table tennis might be more moderate compared to newer, high-growth areas, they consistently deliver stable and predictable revenue. This stability means they require minimal aggressive investment to maintain their market leadership, acting as reliable profit generators for Li-Ning.

LI-NING YOUNG, the dedicated children's sportswear brand, represents a stable and profitable segment for Li-Ning. As of June 2025, it maintained a substantial presence with 1,435 points of sale, reflecting a strategic optimization in its retail footprint. This brand has consistently demonstrated progress through product enhancement and broader channel reach, effectively utilizing the Group's overarching resources.

The kids' sportswear market is inherently resilient and consistently in demand, a characteristic that firmly positions LI-NING YOUNG's core products as cash cows within the Li-Ning BCG Matrix. Its established market penetration and steady performance underscore its role as a reliable revenue generator.

• Market Presence: 1,435 points of sale as of June 2025, indicating a strong retail network.
• Strategic Optimization: A slight decrease in store count suggests a focus on efficiency and profitability.
• Growth Drivers: Steady progress in product optimization and channel expansion, supported by Group resources.
• Market Stability: Operates in the essential and stable kids' sportswear segment, ensuring consistent demand.

The 'Way of Wade' basketball shoe series, a collaboration with NBA icon Dwyane Wade, stands as a cornerstone for Li-Ning. This established line is renowned for its high-performance basketball footwear.

Despite a reported 10% decrease in Li-Ning's overall basketball retail sales for 2024, the 'Way of Wade' series likely maintains a dedicated following. It commands a substantial market share within the specialized performance basketball shoe segment.

This signature collection consistently generates revenue and enhances Li-Ning's brand prestige. It functions as a cash cow, providing stability even as the broader basketball footwear market experiences challenges.

• Brand Prestige: The 'Way of Wade' series significantly boosts Li-Ning's image in the competitive athletic footwear market.
• Loyal Customer Base: Dwyane Wade's endorsement cultivates a strong, repeat customer base for the shoe line.
• Consistent Revenue: The series acts as a reliable income stream, contributing steadily to Li-Ning's financial performance.
• Market Share: Within the performance basketball niche, the 'Way of Wade' line holds a notable market share.

Li-Ning's core running shoe segment, particularly its established performance lines, functions as a significant cash cow. These products benefit from consistent demand driven by the enduring popularity of running as a sport and exercise.

While the overall athletic footwear market saw shifts in 2024, Li-Ning's established running shoe offerings likely maintained their market share due to brand recognition and product reliability. The segment requires less aggressive investment for growth, focusing instead on maintaining quality and distribution.

These running shoes generate predictable revenue streams, supporting Li-Ning's overall financial stability. Their mature market position and consistent sales volume solidify their status as cash cows within the company's portfolio.

Within Li-Ning's extensive product range, certain niche, non-core sports accessories likely fall into the 'dog' category of the BCG matrix. These are items catering to very specific, low-demand sports that don't align with Li-Ning's primary focus or current market trends.

These accessories typically hold a small market share within a stagnant or shrinking market segment. For example, specialized equipment for obscure regional sports might fit this description, showing minimal sales growth and limited consumer interest.

Financially, these 'dog' products likely break even or even consume resources without generating significant returns. Li-Ning's 2024 financial reports might indicate specific product lines with low sales volume and profitability, reflecting the characteristics of these underperforming accessories.

Li-Ning's legacy apparel lines are firmly in the 'dog' category, marked by a 3.4% revenue decline in the first half of 2025. These older collections, lacking recent R&D and design updates, struggle to capture current consumer interest in a mature market. Their low market share and minimal contribution to profits make them a resource drain.

Certain niche, non-core sports accessories also represent 'dogs' for Li-Ning. These cater to low-demand sports with minimal sales growth and limited consumer interest, holding a small market share in stagnant segments. Financially, they likely break even or consume resources without significant returns.

Li-Ning's underperforming international market entries, particularly in some Western European countries, also fall into the 'dog' classification. These ventures show limited penetration and slow sales growth, consuming capital and management attention without substantial returns.

The company's direct sales stores are also showing 'dog' characteristics, with a 3.4% revenue drop in H1 2025. This is partly due to Li-Ning closing underperforming outlets, a strategic move to address these low-revenue, low-traffic locations that drain resources.

Li-Ning is strategically venturing into burgeoning sports like tennis and pickleball, recognizing their increasing global appeal. Pickleball, in particular, has seen a surge in participation, with the World Pickleball Federation estimating over 36.5 million players in the US alone by the end of 2023, a significant jump from previous years.

While these represent high-growth market opportunities, Li-Ning's current market share in these relatively new segments is expected to be minimal. This positions their tennis and pickleball product lines as question marks within the BCG matrix, demanding significant investment to cultivate market presence and avoid becoming underperformers.

Li-Ning's international expansion, entry into new sports categories like pickleball, and focus on women's activewear all represent 'Question Marks' in the BCG Matrix. These areas require substantial investment due to their high growth potential but currently have low market share.

The company's investment in innovative technologies like the 'Super BOOM' midsole also falls into this category. While these innovations target a growing performance footwear market, their market penetration is still developing, necessitating further capital infusion and strategic marketing to capture market share and potentially become future 'Stars'.

Li-Ning's strategic initiatives in these nascent yet high-potential areas underscore a forward-looking approach to portfolio diversification and long-term growth, aiming to convert current investments into future market leaders.

Li-Ning's strategic focus on emerging markets and product categories, such as its international expansion and ventures into niche sports, positions these as 'Question Marks.' These require significant capital to build brand awareness and market share in high-growth environments.

The company's commitment to technological advancement, exemplified by innovations like the 'Super BOOM' midsole, also fits the 'Question Mark' profile. These are in rapidly expanding markets but need substantial investment to gain traction against established competitors.

Li-Ning's strategic allocation of resources to these areas reflects a deliberate effort to capitalize on future market trends, with the inherent risk and reward of transforming these nascent ventures into dominant market positions.