China’s Kangnai Group plans overseas retail empire
Kangnai Group, one of China’s leading shoe makers, is planning an ambitious overseas expansion programme following the successful roll-out of its Paris and New York stores. The company already exports to more than 18 countries and achieved foreign sales of $5 million for the first six months of 2001 – more than the full-year figures for 2000. Now the plan is to set up more than 100 specialty stores outside China over the next 5 years.
According to the Chinese Leather Industry Association, Kagnai Group is the country’s first shoe company to set up outlets abroad. The association is keen to point out that "made in China" is no longer synonymous with low price and low quality, and hopes that Kagnai will lead the way for other Chinese firms with quality products for foreign markets.