Excerpt from: China Supply Chain and Logistics Strategy
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| December 04, 2007 | | SKECHERS joins Luen Thai Enterprises to expand the brand across China | China is a big market with lots of opportunities, especially in the retail industry – there are 1.3 billion people in the country. With the rapid growth of the middle class, SKECHERS and Luen Thai Enterprises saw the potential to expand the brand across the country. SKECHERS China, a joint venture with SKECHERS and Luen Thai Enterprises, creates and markets a new collection of SKECHERS-branded men’s and women’s fashionable active leisure wear in addition to the footwear. To further grow the brand, SKECHERS China will increase the existing 3 flagship stores to 10 in Shanghai, Beijing, Shenzen, Guangzhou by the end of 2009. Additionally, 250 points-of-sales will be added in the next two years. As stated by Willie Tan, CEO of Luen Thai Enterprises and SKECHERS China, “SKECHERS is a famous global brand an there is a huge market segment in China waiting to be satisfied by SKECHERS’ trendy lifestyle footwear product. We expect to reach $10 to $15 million in sales by year-end 2008.” The first shipment of product, under the direction of SKECHERS China, will launch in the market for the Chinese New Year in February 2008. | | |
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