Brand values on the rise in China
Reflecting the growing emphasis being placed on branded footwear and apparel in China, the country’s ‘Doublestar’ brand has been valued by Beijing's Assets Research Centre at an estimated at Y5 billion. ($604,000).
The company behind the brand is QingTao Doublestar Group - a state-owned shoe-making enterprise that exemplifies the rapid growth seen in Chinese shoemaking in recent years. As one of the country's largest footwear manufacturers, QingTao has over 130 production lines, seven ‘shoe centres’, seven operative regions, 47 subsidiaries at home and over 1000 chain stores abroad. In 1999 the company’s assets were valued at Y2.7 billion.
In 2000, sales of Doublestar branded footwear totalled Y3 billion, while the company’s export value increased from $1.75 to $50 million. The group has a yearly output of over 50 million pairs in a range of more than 1000 styles and 3000 colours.
China is stepping up its efforts to create strong brands as competition sharpens from other Asian countries in the production of cheap non-branded goods. In the footwear sector, this is vividly illustrated by the rapid emergence of Vietnam as a large-scale producer of shoes for the global market.
