Leading retailer of woman's footwear in China plans to accrue around HK $8.7 billion (US $1.1 billion), in a Hong Kong initial public offering. Owner of 3828 footwear and sportswear stores in China, Belle International Holdings is raising finance to expand its retail realm as well as production and warehouse capacity.
Increasing level of incomes has fed the flame of shelling out more on footwear, and this has boosted retail sales by 15 percent in the first quarter 2007 compared to the same period 2006.
Craving for mid-to-high-end branded footwear and sports footwear intensified, and this resulted into increase in consumption by an average of 30 percent a year in five years, from 2000 to 2005.
Per capita footwear consumption, at 2.3 pairs in China, compared with 3.9 pairs in South Korea and 7.3 pairs in the United States, gives opportunity for market growth. |
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