China'S Largest Private Shoe Company Takes Over The Old Shoe Factory In Europe

Chinese manufacturers are expected to become the "providers" of the old European companies.

Yesterday, AOKANG group, China's largest private shoe maker, announced in Shanghai that it has won the 10 year operation rights of VALLEVERDE brand in Italy.

Wang Zhentao, chairman of AOKANG, called himself "strategic investor" to enter VALLEVERDE. For president Armando Arcangeli of the VALLEVERDE, compared with the daughter who has no intention to inherit the family business, it may be a more sensible choice to hand over the future of the company to the Chinese partner.

The VALLEVERDE leather shoes, priced from 1500 yuan to 3000 yuan, belong to high-end brands in Italy market. Bailey and Hollywood star Kevin Costner are all in favor of this, so that this established manufacturing enterprise, which has been established for more than 40 years, enjoys a high reputation in Europe.

However, as the focus of world footwear industry shifted from Europe and North America to the Far East in 1980s, mainland China has become the focus of the world shoe industry pfer. VALLEVERDE, like many European peers, has almost lost its ability to expand independently.

"We can't imagine that without AOKANG, we can carry out large-scale sales all over the world."

Arcangeli said.

In different ways of cooperation with the previous OEM, the VALLEVERDE global brand operation in the future is fully operated by AOKANG, while VALLEVERDE helps AOKANG to set up a product R & D center in Italy.

Wang Zhentao said that this year, AOKANG will help VALLEVERDE open at least 130 stores in China, and enter the 7 countries in Singapore, Thailand, Russia and Japan internationally. The goal of both sides is to achieve equity participation.

"Europe, which has been occupying the high end of the industry, is in fact weak in competition, and the shoe industry in China is catching up with the European market."

Yan Feng, a professor at Shanghai Jiao Tong University, said.

It is understood that China is already the world's largest footwear producer, exporter and consumer country, accounting for 68% of the world's market.

Chinese manufacturing enterprises with global sourcing and global sales capabilities have begun to expand the new path of "westward development".