Li-Ning Group yesterday announced a joint venture with LN Co, Founder Co, HongShan Venture, and HongShan Motivation to develop and operate the Li Ning brand outside mainland China. The joint venture, with a total capital of HK$200 million ($25.7 million), aims to enhance overseas market growth and will have an independent team with extensive resources. Li-Ning and its founder will hold a combined 55% stake to ensure brand reputation and influence. Partnering with Sequoia China will further enhance cross-border resource sharing and efficiency.