The cause of Li Ning's decline: genetics, fate, or age?

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I dark Horse: August 14, Li Ning released the 2014 interim report. Not surprisingly, this is a deteriorating loss report. In an institutional rating, except for the "buy" offered by Goldman Sachs, almost all other institutions are "selling" ratings, and in a habitually bullish seller's research market, it is generally only the companies that are on the verge of bankruptcy, with extremely poor fundamentals. In 2010, Li Ninggang released the slogan "Make the Change". And now, some of those who have been convulsed advertising has been forgotten. For 4 years, it seems that the real make-change is only a slide in the performance, and the miserable stock price.

Change or not? It's a problem.

There are divergent opinions on the reasons for Li Ning's failure. In the big environment, from 03 onwards, sports and leisure apparel industry has expanded massively, in 2010 to reach the peak capacity, after the natural is the general accumulation of inventory. On its own strategy, Li Ning made a big strategic transformation in 2010, promoting Li Ning, and enter the international, but for "a better", the younger may not buy, but lost a lot of young and middle-aged users. And in the internationalization of the road, also appear powerless. In addition, Nike cut prices in 2011, the market positioning in the one or two-line city of Li Ning also caused a great impact.

"The Li Ning" advertisement

In any case, successful enterprises are always similar, but unsuccessful enterprises, each has its own unsuccessful. When it comes to the reasons for Li Ning's failure, many can be listed. But always one, each enterprise, developed to a certain extent, will inevitably encounter bottlenecks. Li Ning, at the peak of 2010, was not finding the problem and was also trying to find a breakthrough to change the brand logo and sponsor the international tournament. In the process of this breakthrough, you must avoid the old patterns and the logic of success, to explore new ways. But after this breathtaking leap, there are few winners.

Why are there few successes?

First of all, your past success may be due to your genetic adaptation to the old environment. Just like you are a very good at judging the trend of the investment master, suddenly to a selection of the market for the king's environment, you will be difficult to adapt.

Secondly, the international market and China's environment is not the same. It's like you are the biggest fish in a lake, but in the sea, not only is fresh water turned into saltwater, but you will face the competition of sharks. Bad, not only grow not bigger fish, but will be eaten.

Finally, businesses are made up of individuals and are accustomed to doing what they are good at. To reform, every cell in the enterprise needs to change its mindset, and that's No easy feat.

Li Ning faces such confusion when he is in transition. Li Ning once asked the reporter, he said, his own genes, or an athlete. He will never admit defeat, hope his business, can be detached from the feeling of the local cottage. But with the 50-year-old Nike and 90-year-old Adi, Li Ning seems unfamiliar and naïve. Finally, Li Ning not only not in the international grab a cup of soup, even their own traditional positions, but also by Adi, Nike partition. From 2010 to 2014, domestic Adidas and Nike market share, has increased from 25% to 35%.

In contrast, the Jinjiang gang Anta did not have a "champion heart", he understood that he was just a businessman from Jinjiang to Beijing to sell shoes successfully. The businessman's gene, decided that he as long as the profit for the king, the cottage does not cottage, whether can enter the international first line brand is not his focus. Anta very understand that he has a few catty two, very know how to earn their own money. So, when Li Ning is facing the giant in the core city and international market, Anta is taking the strategy of encircling the city in the countryside, paving a wider channel for himself in the rear, which is the difference between a businessman and a champion athlete.

Comparison chart of performance of Li Ning, Anta and horse in recent years

So, change or not? This is a problem. Which way to change? Li Ning's character, decided that he even badly beaten, also want to stand on the podium of world-class competitions. So he rather, guns; And if he was a businessman, he would estimate the risks and benefits of the change and look at himself in a more rational way.

Take what to save you, Wang Zilining?

Is there any way to save it? I ask a researcher who has studied Hong Kong equities for many years. She said, the hope is not big, need not see.

I wonder what it would be like to hear it if Li Ning himself. 2008, he lit the Olympic flame on behalf of China, which is a peak of his life, 2009, is also a peak of the company. And now he may understand. It's harder to change than to win a championship. "Making the" is not synch possible. ”

Because, sports and leisure supplies industry in China about 100 billion of the market size, 2010 years later, it has been difficult to increase. At the end of the pioneering era of total expansion, the brand and capital were followed by a head-on slaughter. Today, only 6 billion of the sales of Li Ning, it is difficult to compete with the international giants. In the case of loss, Li Ning not only sponsors international competitions, but even domestic sponsorship has become a burden.

In fact, these four years, sweet, is more than Li Ning one. When Nokia officially withdrew from its history stage this year, CEO Ollila said: "We didn't do anything wrong, but somehow we lost." Li Ning is only more than 20 years old. These more than 20 years are basically China's history of the fastest economic growth period, Li Ning is born at the time. And Nokia, which has a history of more than 150 years, from pulp to telecommunications, to mobile phone manufacturing, in the 90 's life and death of enterprises, the inventor of the intelligent machine in the face of the largest mobile wave in history, but also lost the defeat.

And behind this, how to save? Perhaps you will sum up a series of reasons, such as the failure of Li Ning's branding, and Nokia's adherence to the Symbian system. But actually get up, in fact, the success or failure of a business, there are fatalistic elements. Like the founding of Rome, the Roman legion was the Invincible War machine in the Mediterranean region, and hundreds of years later the "barbarians" in the northeast became vulnerable. Perhaps you will put this failure back on its laurels, even if some scholars think it is because of the toxicity of the Roman sewer lead. But in fact, the road of innovation is also thorny. Success requires many conditions to be accidental, and failure, only need a reason.

Nokia former CEO Ollila

In other words, why should we save it?

Li Ning, in the eyes of a generation in China, is a symbol of national pride. In that era, international sports were more endowed with national missions. And for Li Ning himself. Li-Ning company headquarters, can be seen everywhere the portrait and statue of Li Ning, is the famous "Lee Ning Cross", but ask, now people, who still remember Li Ning cross it. Not only do not know Li Ning Cross, I am afraid even Li Ning is who, the children of the child can not be called out. If you really want to be younger, you must first learn to see the world in the eyes of the young.

And the strong sense of national pride brought by the Olympic champions has also gone away with a generation of old people. Today, people are more concerned about their own life and practical feelings. Like this year, water benefits in micro-blog mentioned Laurie poem once said: "The 2010 Asian Games, the country needs me, I can still struggle to sprint." and Lau Lishi himself replied, "I'm not jumping for myself now!" The weakness of Li Ning behind, perhaps to a certain extent, also means the distance of an era. In Li Ning's market research, found that their users, is always middle-aged mainly. Perhaps not because Li Ning has been positioned in middle age, but the young people of that time, also with Li Ning's old and old. Young people who have grown up will not be touched by the Olympic champions. They are more concerned with personality, vigor, and quality, and they prefer Nike and Artie.

So, take what to save you, Li Ning.

The pattern of past successes may be the shackles of future progress. Perhaps, only forget the glory, put down the posture, or have two times the determination to start a business, can let Li Ning this brand again shine. Perhaps when Li Ning forgets Li Ning's intersection, it is also the time to redeem himself.

The author of the micro-letter public number: Morning ru day Knowledge record