Sneaker maker taking on Nike leads growth of top Chinese brands
The athletic apparel company founded by an Olympic gold medalist has posted the most significant growth in China's top 100 most expensive brands this year.
The brand value of sportswear maker Li Ning Co. rose 66% to $3.4 billion, the largest increase in the annual list compiled by Kantar BrandZ. The growth in brand value was driven by technical innovation and patriotic style, with the latter fueling a growing wave of consumer nationalism in China that has sidelined global companies such as Nike Inc.
The total value of China's top 100 brands fell 20% to $1.24 trillion.
Tencent Holdings Ltd. retained the top spot for the second year, Alibaba Group Holding Ltd. ranked second and liquor company Kweichow Moutai Co. rounded out the top three, Bloomberg.
via.TITVN
