Footwear Retailers Enter Into The Mainland
Footwear trader Ying Jin group (1386) its first shoe chain flagship store, Walker One, opened in Beijing recently.
Chen Mei, chairman of Ying Jin group, revealed that the group plans to open more Walker One flagship stores in mainland Shanghai and Chengdu first, and will open 300 shoe stores in the mainland within two years to seize the business opportunities in China's booming consumer goods market.
According to Chen Meishuang, the first Walker One flagship store opened in Beijing is located in Xidan Business District of Beijing, covering an area of 8000 square feet. The total cost of opening shop is RMB 3 million yuan. The store brings together 8 brand products, including the popular ACUPUNCTURE and sports brand OX-X-OX.
In addition to increasing sales and image, flagship stores can be seen as showrooms for investment promotion. Shops are only opened for expansion in the first tier cities. The group hopes to accelerate the development of China's business and bring about an ideal return for shareholders.
In the spring and summer, the unit price increased by 15%. Zhu Xianwen, chief executive officer and chief financial officer, pointed out that in 2007, the same store sales in mainland China increased by 19%, and that in Hongkong also rose by 18%.
In 2008, the group's overall business will continue to grow. In order to grasp the business opportunities of the 2008 Olympic Games, the group opened the first OX-X-OX store in Beijing Walker One flagship store. The brand will become a new business growth point in the future.
However, under the influence of global oil and raw material prices, the price of the group's brand will increase by 15% in spring and summer.
In the future, Ying Jin will also cooperate with the group shareholder, Itochu, Japan in logistics, personnel training and product development.
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