China expansion at Skechers
Sports and lifestyle footwear brand Skechers USA, Inc. (is expanding its sales and distribution in China through a joint venture – known as Skechers China – with Hong Kong-based company Luen Thai Enterprises. Over the next three years, Skechers China expects to open more than 1,200 points of sale across China.
It will also design and market a collection of men’s and women’s fashionable active and leisure wear. The apparel is set to launch in 2009 and will be designed as an extension of the footwear collection.
“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,” stated CEO of Luen Thai Enterprises and Skechers China, Willie Tan, “we expect to reach sales of $10 million to $15 million by the end of 2008.”
