Peak to focus on basketball with NBA signing
10/01/2013
Reports from the US suggest the NBA star has entered a three-year deal worth between $2 million and $4 million, following Dywane Wade’s deal with Li-Ning in October.
Li-Ning has made it clear that it sees opportunities in the basketball market as the sport grows in popularity it its domestic market. Mr Wade said at the time: “I am honoured to join forces with Li-Ning and grow the game, beginning in China, which is home to more basketball players - 200 million - than any other country in the world." He has since released a footwear line for the brand.
Peak has also been making inroads into the market in recent months through partnerships with NBA franchises such as the Toronto Raptors and the Houston Rockets.
Like its peers, Peak suffered a disappointing year in 2012, closing up to 1,000 stores and reporting a decline in profits for the first half of 43.3%. It still owns about 7,000 outlets in China.
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