Struggling Chinese shoe maker looks to NBA star

Chinese sportswear company Li Ning (2331.HKG) will look to capitalize on a partnership with American basketball player Dwayne Wade, after the company posted an annual loss last year, Bloomberg reported. The branding move, in which the star will help the shoe maker design its products, comes as Li Ning tries to move away from wholesale and into a “retail oriented” business model. Li Ning is hopeful that the deal with Wade will raise its profile in China, as well as its market share, which currently lags behind that of Nike (NKE.NYSE) and Adidas (ADS.ETR, ADS.FRA). The company posted a $323 million loss in 2012.