TPG faces a challenge in Li Ning
TPG Capital worked its magic on women’s shoe retailer Daphne three years ago, but can it do the same for beleaguered Chinese sportswear chain Li Ning? Investors clearly hoped as much, with the Hong Kong-listed company’s stock rising 20% in response to the announcement.
Despite China's fast-growing consumer classes, Li Ning has been struggling for over a year to maintain its sales in the face of keen competition from both local and international brands. The company's...
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