|
|
Article: BROWN SHOE LEAPS INTO CHINA.(Brown Shoe Company Inc.'s plans to open stores in china and joint venture with Hongguo International Holdings Ltd.)
- Article from:
- Footwear News
- Article date:
- June 25, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
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 ...