When asked why this initial investment in the US failed, Craig Heisner, vice-president of digital operations, explains: "I don't think the original plan adequately presented the heritage of Li Ning as a major Chinese brand founded by a famous Olympian who rose to the top".
"Don't quote me on this, but tom.com has a big Li Ka-shing premium attached to it, " says one Hong Kong-based fund manager, who doesn't own the stock but wishes he did.