Franchising, retail, business
03/12/2015
Italian shoemaker Geox has signed a distribution agreement with Hong Kong listed Pou Sheng International to set up 350 stores in Mainland China by 2020.
The two companies will target China’s rising middle class – 109 million newly affluent, quality-conscious and brand-happy Chinese consumers.
Geox is one of the leading brands worldwide in the lifestyle footwear market, listed on the Milan stock exchange and Pou Sheng is one of the leading retailers in China in the lifestyle and sportswear market, retailing brands such as Converse, Rockport and Keds with 4586 retail outlets and another 2691 sub-distributors across China.
The Geox agreement includes the exclusive distribution of Geox adult collections in China and the opening of 350 new stores in the first five years – including mono brand stores and shops-in-shops in high end footwear specialist retailers, shopping malls and department stores.
Mario Moretti Polegato, chairman and founder of Geox, said the strategic agreement is aimed at “developing properly our brand distribution in China where, in our directly operated stores in Shanghai and Beijing, Geox has already demonstrated to have strong potential”.
“I believe the partnership with Pou Sheng is extremely relevant as it merges the Geox mission of improving everyday life of our endorsers, through our breathable innovations, with a partner whose enlightened mission is providing services and products that promote high quality of living and healthy lives and whose goal is to be the customer’s number one choice and the brand’s best partner in China through the strongest and most innovative multichannel retail network”.
Geox CEO Giorgio Presca describes China’s emerging middle class as “definitely the best thing” that could have happened to his company.
“On one hand, the rise of the middle class will boost the economy. On the other, it is the perfect thing for brands like us.”
Geox is already expecting same-store sales growth in China of 17 per cent or more this year – its highest growth rate globally. But China still comprises just two per cent of its total sales.
Fonte:https://insideretail.asia/2015/12/03/geox-plans-350-china-stores-with-hong-kong-partner/
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