Brazilian shoe firm plans to open 300 stores in China

31 July 2007

Sao Paulo, Brazil, 31 July – Brazilian women’s shoes manufacturer Arezzo is joining forces with Hong Kong-based Prime Success to open stores in mainland China, company sources have announced.

Arezzo CEO Anderson Birman said Monday that the company plans to open 300 stores in China by 2016, where its Hong Kong partner already has 3,000 retail outlets to sell its Daphne and Shoebox lines.

Prime Success, also with stores in Hong Kong and Taiwan, has exclusive distribution of Adidas in China and makes shoes for many international retailers such as Wal-Mart and JC Penney.

Arezzo plans to open five stores by the close of 2007 and plans to sell US$ 150 million worth of products over the coming years, about the same turnover from its 212 Brazilian outlets.

Arezzo recently announced the opening of its second franchise store in Portugal in September and that it wants to have 25 shops in this country by 2015.

Arezzo had a turnover of 325 million reais in 2006, some 5 percent of this coming from its overseas operations in Portugal, Venezuela, Saudi Arabia and Paraguay. The firm predicts boosted sales of 15 percent this year. (macauhub)