Li Ning's new independent high-end sports fashion brand "Li Ning 1990" was recently unveiled. After the world's first store lands in Beijing, Li Ning's 1990 Raffles City Chongqing store will also open on November 13. Since its inception in 1990, the Li Ning brand has gone through 30 years. Li Ning 1990, which re-enabled Li Ning's original logo, is not a new outfit of old wine, but a nostalgic taste that aims at a new "sports fashion" and "multi-scene" wear: Li Ning's old logo is reflected in the costume design with the repetition and rotation of geometric patterns. Back in 1990, what Li Ning wants to reproduce is not the old style, but the prosperity of the past.
The old standard returns
On November 6, li-ning 1990 (Li Ning 1990) set up its world's first store in Beijing Parkview Yerba Buena, which also marked the launch of Li Ning's new independent high-end sports fashion brand.
Seeing the logo of the new brand, many people realized that Li Ning's "old standard" had returned, and the classic visual design of the brand's inception was once again enabled. However, from the perspective of products and exhibitions, Li Ning 1990 is not an indiscriminate reproduction of Li Ning in 1990.
According to the official introduction, Li Ning's 1990 autumn/winter 2021 series is inspired by the championship gold medal, medalwear and hero boots, and reshapes it with a fashionable approach to create fashionable items with contemporary texture. In addition, design elements such as ancient blue dyeing and Song Dynasty faience pottery are used in them.
Li Ning 1990 has online and offline independent retail channels, and internet celebrity bloggers have gone to the offline store space to punch in and explore the store. The store runs through the traditional Chinese concept of "grid", the ceiling adopts the form of an overall luminous lattice, integrating Chinese architectural elements, and the cash register area is designed with the whole screen of the heaven and earth wall, emphasizing the visual effect.
"Part of Li Ning's 1990 products are fashionable remodeling of Li Ning's early products, including color matching, tailoring, and fit, reflecting a contemporary sense." Xu Yanfang, general manager of Li Ning's 1990 brand products, has publicly stated. Different from the product positioning of professional sports, in the official caliber of the brand, "sports fashion" and "multi-scene wear" are the keywords of Li Ning in 1990.
Some insiders sniffed out the "sense of luxury": "Li Ning's shoes in 1990 are similar to the texture of light luxury brands such as Gucci and Coach." "The board shoes have a blue print color scheme, and the tongue position and heel position are made of leather material, and the color matching feels more advanced." After the return of Li Ning's old standard, the geometric pattern is repeated and rotated to form a triangular composition, which appears in the design as a clothing pattern.
It is reported that after the opening of the world's first store, Li Ning's first store in southwest China in 1990 - Raffles City Chongqing store will also open on November 13.
It's not just nostalgia
The product positioning is high-end, and the Li Ning 1990 brand is also placed on high expectations. It is reported that "single brand, multi-category, multi-channel" has always been the strategic pattern of Li Ning Group, and this time Li Ning 1990 was labeled as a "new independent high-end sports fashion brand", which was regarded as an unprecedented priority of Li Ning Group in the industry.
"Consumption Of Titanium" can be seen through Li Ning's online WeChat Mini Program Mall in 1990 that the current products in the store are divided into men's and women's shoes, men's and women's clothing, including board shoes, retro jogging shoes, clothing, bags, hats and other categories. Among them, a basic duck tongue cap is priced at 299 yuan, which is currently the lowest priced product. The highest price was a women's coat for 1899 yuan.
Footwear ranges from $999 to $1,499. Currently, a women's board shoe shows that it is sold out online. The clerk of Beijing Qiao Fu FangCaodi said that there was already a good flow of money in the soft opening stage, and some of the colors of several products had been sold out.
According to reports, compared with China's Li Ning product line, li ning 1990 product price points are mostly 1.3-1.5 times that of the former.
Is the target customer base z-era? Or the nostalgic post-70s and 80s? Yang Dajun, founder of the Sustainable Fashion Digital Innovation Center, analyzed "Consumer Titanium": "Li Ning's main consumer group is the pure post-95 crowd. With the trendy and street culture products previously launched, Li Ning has successfully won the love of young people. In the face of the new feelings of the new generation, enterprises gradually realize that it is not enough to have popular elements, and they need to import emotional elements, such as ethnicity and traditional culture. From the perspective of the construction of Li Ning's brand line and the rhythm of product launch in recent years, it is quite successful. Yang Dajun also pointed out that although Li Ning used the original logo in 1990, it was not a kind of nostalgia, and the purpose was to interpret the story of the past with the chao culture.
Some securities companies also gave praise to Li Ning 1990. Tianfeng Securities released a research report saying, "Li Ning 1990 classic standard high-end sports and leisure product line, raise the brand tone rich product series, and China Li Ning, Li Ning goods and Li Ning children to form a differentiated multi-dimensional coverage matrix, with the help of classic logos and trend elements to focus on the post-85 high-end market." At the same time, Li Ning was given a "buy" rating.
Seek long-term sales
Talking about the brand strategy and the current product line, Li Ning said: "The Li Ning brand continues to upgrade products, channels and retail operation capabilities and supply chains, consolidates the value of Li Ning's experience, focuses on core categories such as running, basketball, sports life, China Li Ning, comprehensive training, badminton, etc., focuses on sports science research, continues to develop and upgrade product technology platforms, strengthens brand sports genes, excavates Chinese culture and popular culture elements, and delivers unique brand values." ”
It is reported that in addition to the core brand Li Ning and the latest launch of Li Ning 1990, Li Ning Group also produces, develops, promotes, distributes and sells a number of owned, licensed or joint ventures/joint ventures with third parties of the Group to operate other brand sports products, including Red Double Happiness Table Tennis Products, Aigle Outdoor Sporting Goods, Danskin Dance and Yoga Fashion Fitness Products and Kason Badminton Products.
In addition to the new lining 1990 brand, recently, a fundraising announcement issued by Li Ning has also triggered speculation in the industry. According to the announcement, Li Ning will place 120 million shares on a first-come,000-new basis for HK$87.50 and plans to raise HK$10.5 billion. Li Ning intends to use the net proceeds from the old-on-new subscriptions to invest in new categories, international expansion, investment in restructuring infrastructure and further upgrading supply chain systems, future business investments when opportunities arise, brand building and general working capital. Some industry insiders have analyzed that this time Li Ning may focus on international expansion and investment in the newly launched Li Ning 1990.
In Yang Dajun's view, Li Ning's current marketing strategy is biased towards the fashion category, and while achieving advantages and results, we should also pay attention to the corresponding risks: "Through high-end brands or products such as Li Ning 1990, Li Ning has raised the price and cut into the light luxury space to find market share, which will also bring good profits to the enterprise." The risk of a single brand is that it is easy to form a gap with the traditional mainstream consumer public: the price span is too large, and the corresponding 'chain of contempt' will be formed, and consumers who buy low-line Li Ning products may feel differentiated. Yang Dajun also suggested that while Li Ning's strength in tide culture, it is also necessary to balance the positioning of professional sports: "The trend is often a gust of wind, and the brand cycle is often very short. Focusing on sports is the core of the long-term survival of sports brands. ”