Li Ning, the final flying torchbearer in the opening ceremony of the 2008 Beijing Olympics, impressed many in the world with his performance. Known as the "gymnastic prince", Li won the most gold medals when the People's Republic of China participated in its first Olympic Games in Los Angeles in 1984.

Twenty years later, the gymnastic prince is now wowing people with his successful sports clothing brand -- the most popular one in China that rivals Nike and Adidas in the domestic market.

Because of the outstanding performance of Li's firm, Li Ning Company Limited, in the most recent Olympic marketing campaign against Nike and Adidas, more people have come to admire the sport hero's business acumen. Although his company was not selected as an official sponsor of the Beijing Olympics, Li provided apparel for reporters and hosts of domestic TV channels that covered the Olympics. The "Li Ning" logo has reached billions of spectators through the media.

Former Chinese gymnastics star Li Ning, suspended in mid-air, space walks towards the cauldron of the Beijing Olympic Games on Friday night, August 8, 2008. [Photo: Xinhua]

As a successful business leader, Li recently discussed his 20 years of experience in business field for the first time in an interview with the magazine "Bazaar."

At the 1984 Los Angeles Olympics Li won six medals, including three of China's total 15 gold medals. He excited the whole country with his performance, but at the 1988 Seoul Olympics he made a mistake and fell from the rings. The error prompted him to announce his retirement at the end of 1988.

At that time, he accepted a job offer from the Jianlibao Group Co. Ltd. of Guangdong Province. Company executives who had first met Li in 1984 invited him to work as an assistant to the group's president. One year later, Li became manager of Jianlibao Group's sports apparel subsidiary where he started his eponymous brand.

The 1990 Asian Games gave Li an opportunity to make his brand widely known. He appeared in his own brand of sports clothes when he carried and passed the flame of the Asian Games. He also contributed 2.5 million yuan, or 365,000 U.S. dollars, as a sponsor of the games. In return, about 2.5 billion domestic and foreign spectators became familiar with the "Li Ning" through the media during the games.

When the Chinese Olympic delegation appeared at the opening ceremony of the 1992 Barcelona Olympics in his sports apparel, Li he was moved to tears.

"At that moment, I felt the biggest honor I've ever had, which surpasses the sum of the golds I've got," he said, according to an article on the website Sohu.com.

Sports apparel giants Nike and Adidas began to take note of this promising Chinese rival. To further develop his business in light of the competition with the two famous brands, Li hired a professional consulting company to help map out his firm's future. As a result, he renamed his company Li Ning and moved it from Guangdong to Beijing. Since then, his company has separated from Jianlibao Group.

In 2004, the Li Ning Company Limited went public on the Hong Kong stock exchange. The following year Li quickened his steps to enter the international market. Besides sponsoring Chinese Olympic delegations as well as the national table tennis and diving teams, he also became an official sponsor of the NBA and the Swedish Olympic Committee. According to Sohu.com, an article in "Wealth" magazine said Li had been increasingly mature in his international marketing strategy.

Part of the appeal of the company's apparel is that it features Chinese elements such as ink-wash colors on sports shoes. Its "ILoveHongkong" limited edition shoes were introduced to the market in 2007 to commemorate the tenth anniversary of the handover of Hong Kong.

When reflecting on his business achievements over the past 20 years, Li simply said, "I'm only a lucky man," according to the Sohu.com article.