NEW BALANCE ATHLETIC SHOE QUICKENS EXPANSION IN CHINA
AsiaInfo Services, November, 2007
AsiaInfo Services
11-15-2007
New Balance Athletic Shoe Quickens Expansion in China
SHENZHEN, Nov 15, 2007 (SinoCast via COMTEX) — New Balance Athletic Shoe, Inc. recently acquired a majority stake in its China company in Shenzhen to speed up its expansion in the 1.3-billion-population market, said sources.
The former majority shareholder of New Balance Athletic Shoe was a Taiwanese businessman who was authorized in 2003 to exclusively produce and sell New Balance-branded sports shoes in the mainland.
New Balance Athletic Shoe announced yesterday in Shanghai that it would increase the number of franchise stores in China to 1,000 from 270 before 2012, boosting New Balance to become the No.1 athletic shoe brand and China to become its second biggest market.
The…
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