Retail Industry
Industry: Email Alert RSS FeedBROWN SHOE LEAPS INTO CHINA.(Brown Shoe Company Inc.'s plans to open stores in china and joint venture with Hongguo International Holdings Ltd.)
Footwear News, June, 2007 by Duray, Dan
Byline: Dan Duray
NEW YORK - Brown Shoe Co. is going after the booming Chinese market in a big way.
The St. Louis-based company said last week it will open more than 500 stores in China over the next five years as part of a joint venture with Hongguo International Holdings Ltd.
Brown Shoe plans to open 400 Naturalizer stores and shop-in-shops and 100 stores carrying the Via Spiga brand in key cities such as Shanghai, Beijing, Guangzhou and Shenzhen.
The company will hold a 51 percent stake in the joint venture, which has been named B&H Footwear Ltd. Hongguo will hold the remaining stake. A subsidiary will be established in Dongguan in Guangdong Province, where Brown Shoe already has a sourcing operation with close to 600...
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