China's Li Ning sets up JV with HongShan to take sportswear brand overseas

China's Li Ning sets up JV with HongShan to take sportswear brand overseas

FILE PHOTO: People walk past a store of Chinese sports products brand Li Ning in Beijing, China April 15, 2021. REUTERS/Tingshu Wang/File Photo

Hong Kong-listed Chinese sportswear juggernaut Li Ning Company has tied up with venture capital firm HongShan, previously known as Sequoia Capital China, to form a joint venture (JV) tapping into the development and operation of Li Ning’s brand business overseas.  

Edited by: Joymitra Rai