Michelin Partners Chinese Gymnast in Shoe Deal
Playing a starring role at the Olympics opening ceremony meant a $30 million payout for former Chinese gymnast Li Ning. Investors reportedly snapped up shares in his Hong Kong-listed sportswear firm, Li Ning Co. Ltd., hoping that global recognition would follow the spectacle of the opening ceremony. However, tyre experts may be interested to learn taht Li-Ning Co. announced recently signed a tie up with Michelin to start technical cooperation to produce high-performance sports shoes.