Skechers sets up Hong Kong joint venture
Lifestyle shoe brand Skechers has expanded its operations in Hong Kong and Macau through a joint venture, known as Skechers Hong Kong Limited, with fashion company Onwel Group. The new deal follows shortly after the establishment of Skechers China Limited, a joint venture with Luen Thai Enterprises established earlier this year.
Skechers Hong Kong has already started delivering shoes through its own retail stores. The joint venture company hopes to improve its wholesale distribution with 200 new doors in the next two years and plans to triple sales within three years.
Skechers president, Michael Greenberg, said: "We had a foothold in the region through a distribution partner, and now we have an opportunity to take our business in the Hong Kong region to the next level. A densely populated territory of approximately seven million, Hong Kong offers many opportunities for Skechers given its educated and savvy consumers, and growing open and dynamic economy."
