A global leader in the footwear industry, Skechers, announced that it has taken their product overseas to Hong Kong. This will be a joint venture with the Ownel Group, which is a leading fashion company in that region. Skechers Hong Kong follows the recent joint venture with Luen Thai Enterprises created earlier in 2008. By establishin its own reatail store, Hong Kong has started to deliver a wide-range of men's, women's, and children's Skecher footwear. A vast network of wholesale accounts will improve future wholesale distribution for the Spring 2009 season. Hong Kong expects to improve its wholesale distribution with two hundred new doors in the next two years creating more jobs while also tripling their sales. August 16, 2008, the 1st Skechers concept store in Hong Kong opened in Olympian City 2, in which it was a celebrity attended grand opening. This was the first to open of eight retail stores scheduled to open in 2008. Within the next two years, an expected twenty Skechers retail store locations planned to open and are expected to be as profitable marketing vehicles as in the United States. "There is a tremendous opportunity for SKECHERS to grow in Hong Kong. "SKECHERS is a fantastic, strong, global brand and this market is filled with brand-loving consumers who are ready for more of the stylish lifestyle footwear SKECHERS has to offer. We expect SKECHERS to experience new success in Hong Kong thanks to the full line of styles now available."
My view is that this expansion was a marketable venture. I would have figured Skechers to already have become popular overseas. I personally am not a buyer of this particular line of footwear but have seen its tremendous growth. With the size of the Asian continent and its billion member citizen population, failure with this expansion, I feel is not an option.
2 comments:
Wow, this was a really insightful article. I didn't realized that skeckers was mainly a western brand. It was cool that the market is going overseas but I also feel like the Chinese market might actually appreciate the brand in a different way. I know from being a shop-a-holic that consumers always want the best deal and maybe the products being made in China might not be a commerically as fashionable as the skeckers brand. I wonder if the actually styles and format of the shoes made here will remain the same. We all know other cultures and countries have their own taste so maybe the brand might developement a different style. This is really neat!
That’s great..! Good going Skechers…
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