Footwear giant Skechers laces up for growth in China
Skechers has opened nearly 3,500 points of sale across the Chinese mainland and developed online sales operations on multiple e-commerce platforms. — China Daily
SHANGHAI: Riding on China's push to revive consumer spending and tap its vast domestic market, the US-based athleisure company Skechers plans to increase investments, fortify local supply chains, and double down on innovation to seize more market share in the country.
China has placed strong emphasis on consumption as a key driver of economic growth. In the March Government Work Report, the country outlined a series of measures to boost domestic demand, positioning the expansion of consumption as one of its top policy priorities for the year.
Willie Tan, chief executive officer of Skechers China, South Korea and South-East Asia, said these efforts aim to stimulate household spending, improve the consumption environment and unlock China's huge consumer market.
'The trade tensions between China and the United States have a profound impact on the global economic order,' said Tan. 'We firmly believe that the advantages of China-US cooperation significantly outweigh any disadvantages.
'In the wave of economic globalisation, the world has transformed into a closely connected global village,' he said, adding that China, as the world's second-largest economy, boasts a substantial consumer market and a comprehensive industrial ecosystem, providing significant impetus for the growth of multinational corporations.
Skechers, which entered the domestic market in 2007, has opened nearly 3,500 points of sale across the Chinese mainland and developed online sales operations on multiple e-commerce platforms.
Optimistic about the Chinese market, Skechers has invested over 60 million yuan in recent years to establish a product innovation centre for the Asia-Pacific region, as well as an imaging studio and livestreaming facility in Dongguan, Guangdong province, aiming to better meet the needs of local consumers.
With a total investment exceeding three billion yuan, Skechers is building the second phase of its China logistics centre project in Taicang, Jiangsu province. — China Daily/ANN
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