European and American children's shoes go "high price" Sword refers to the Asian middle class market

American senior children's shoes store Stride Rite (with map)

Collective Brands, a US shoe brand company, and Hong Kong-based Li & Fung Retailing, will open StrideRite, a high-end children's shoe store in Hong Kong this month. This brand of children's shoes is priced at US$50 (US$1,500) in the United States. The company hopes that Chinese consumers willing to spend more than 100 US dollars to buy a pair of Adidas or Nike sports shoes would also like to buy a pair of shoes for their children at half the price.

The Financial Times reported that Collectiv CEO Matt Rubel stated that China is not only an emerging market, but also a wealthy emerging market for consumers. Therefore, it decided to promote the StrideRite brand to all parts of China.

According to a survey conducted by the Boston Consulting Group, six kinds of products planned to increase spending by the middle class and rich consumer groups in China include clothing and footwear, attracting foreign consumer brands. Gap, the largest clothing retailer in the United States, opened its first store in China last month and plans to bring its brands OldNavy and BananaRepublic into the Chinese market. Another clothing brand Cherokee also plans to open up the Chinese market. The multinational low-cost footwear group Bata has established a strong business in China with nearly 250 retail stores.

Collective Brands' brands include Keds, Saucony, Sperry, and discount store PaylessShoeSource. The group plans to add at least 700 Payless stores in emerging markets in the next five years, including 15 stores opened in Indonesia next year.

Analysts pointed out that if the emerging markets develop at the current speed, the Asian market will account for 42% of global consumption by 2030. In the next 10 to 15 years, the Asian middle-class consumer group will surpass the U.S. population and have a strong market potential.