Li Ning shut a net 1, 821 stores and factory outlets last year, leaving 6, 434 still in business, the company said in a statement.

FORBES: Li Ning's Latest Air Ball

Li Ning last week said it wants to move to a more consumer-oriented model, opening more of its own shops and factory outlets rather than franchising them out to third parties or relying on wholesalers to distribute their products.

WSJ: China Brands Lose to Western Labels

Coach operates 342 retail stores and 121 factory outlets in North America where direct-to-consumer same-store sales rose 6.3% on a comparable 14-week basis.

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