Aokang sets its sights on global reach with online retailer tie-up
China-based footwear and leathergoods manufacturer Aokang is investing $77.3 million in a stake on LightInTheBox, in the hope it will improve manufacturing efficiency.
Aokang products will be sold through the online retail company, enabling Aokang to expand its customer base outside of China.
The country’s national 'Internet-Plus' strategy was unveiled by Premier Li Keqiang in March and aims to transform China’s traditional manufacturing into a high-tech industry by integrating mobile internet, big data analytics, cloud computing and the ‘Internet of Things’.
Aokang chairman Zhentao Wang said: “We will work to transform traditional manufacturing, starting with the shoes and leather product industry, by leveraging mobile internet technology to vertically integrate online and offline resources.”
“By leveraging LightInTheBox's cross-border ecommerce platform, we will introduce high-quality Chinese brands such as Aokang to global consumers. Our years of experience in cooperating with global brands will also enable us to jointly explore opportunities for introducing more international brands to Chinese consumers with greater cost-efficiency and improved customer experience through cross border ecommerce. We believe this partnership will create new business prospects for both parties, and help Chinese manufacturing industry at large to become a high-tech leader through Internet-driven innovation."
Aokang is now one of the leading shoes and leather products companies in China, specialising in R&D, manufacturing, distribution and retail. It operates around 5,000 sales outlets in the country.
