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Clarks looking for reboot under new Chinese leadership
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It began with a sheepskin slipper in 1825, but Clarks’ is moving out of its comfort zone in a battle for survival under new Chinese leadership.
The British footwear institution, founded by Quaker brothers Cyrus and James Clark, shifted from comfort to fashion after the desert boot inspired by James’ great grandson Nathan Clark’s time in Burma in the 1940s, became the footwear of choice of The Beatles, Oasis and generations of reggae artists.
Now the boot is on the other foot as the founding family were forced to this year cede control to Chinese Olympian Li Ning and private equity group LionRock after slumping into the red and struggling to refinance debts after years of malaise.
Li Ning, the billionaire former gymnast who now heads a sports
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