Hispanitas hits the international market with own-brand stores
08/12/2011
In addition to these, the company runs five own-brand stores in Spain and Portugal.
Hispanitas's new Chinese outlets are in the major city of Tianjin and in Hangzhou, capital of Zheijang Provice. The Spanish firm has worked with a European-trained but locally based partner to set these ventures up and says it will take its presence in China to ten own-brand stores before the end of 2012.
Commenting on the development, the company's chief executive, Luis Chico de Guzmán, said: “China has gone through impressive economic growth and there is a clear increase in the demand for shoes with a high level of design and manufacturing quality such as we can produce in Spain.”
Mr Chico de Guzmán has told local media that he is confident international expansion can help Hispanitas recover the level of sales it achieved before the global economic downturn. The company sold shoes worth EUR 45 million in 2008. By 2010 the figure had dropped to EUR 38 million.
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