Skechers China.Through a joint venture with Hong Kong-based Luen Thai Enterprises, Skechers USA Inc. is expanding sales and distribution in China. The effort is expected to generate $10 to $15 million in sales by the end of 2008. In the next three years, Skechers China will open more than 1,200 points-of-sale across the country. The company now has three stores in China, and plans to have 10 in Shanghai, Beijing, Shenzen, and Guangzhou by the end of 2009. A new active and leisurewear line targeted especially for sale in China will be introduced that year. "China's share of the global footwear market is estimated at close to $9 billion for 2008 with this number increasing due to the growing middle class," said Willie Tan, chief executive of Luen Thai Enterprises and Skechers China in a statement. Luen Thai Enterprises is a privately held company, part of a $1 billion group of companies involved in apparel, hospitality, travel and other sectors. Staff reporter Sarah Filus can be reached at sfilus@labusinessjournal.com, or at (323) 5495225, ext. 235. |
|
||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion