Li Ning shares hit new high as sales surge amid Chinese boycott of Western sports brands over Xinjiang cotton row

//Li Ning shares hit new high as sales surge amid Chinese boycott of Western sports brands over Xinjiang cotton row

Li Ning shares hit new high as sales surge amid Chinese boycott of Western sports brands over Xinjiang cotton row

Shares of Chinese sportswear maker Li Ning Company hit a historic high as sales during the May day holiday soared fivefold amid a nationalistic buying frenzy following the controversy over cotton produced in the Xinjiang region.China Lining, Li Ning’s premium fashion arm, saw its sales on the country’s largest e-commerce platform, Tmall, jump 419 per cent between April 27 and May 3 from the same period a year earlier, according to data from Credit Suisse. The five-day Labour Day holiday in…

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By | 2021-05-07T08:30:34+00:00 May 7th, 2021|Business|Comments Off on Li Ning shares hit new high as sales surge amid Chinese boycott of Western sports brands over Xinjiang cotton row