The Collective Brands Stride Rite Children's Group (SRCG) and privately held Li & Fung Retailing announced a licensing and development agreement aimed at introducing Stride Rite, the premium footwear brand for children, to Greater China and Southeast Asia.
Under the agreement, a newly formed subsidiary of Li & Fung Retailing, LiFung Children Holdings Ltd, will market the Stride Rite brand and its range of children's footwear through stand-alone retail stores, shop-in-shops and ecommerce sales in Hong Kong, Mainland China, Taiwan, Macau, Malaysia, Singapore and Brunei. This is a first for Collective Brands to bring any of its retail concepts or brands to the mainland China market.
"We are excited to partner with LiFung Children Holdings to bring the Stride Rite brand and its rich heritage position and commitment to children's growing feet to Asia," said Sharon John, President of SRCG. "We look forward to bringing shoppers across the region our range of products that deliver the 'rite' technology for children combining style and quality, as well as a store format dedicated to properly fitting the child and servicing parents and grandparents."
Trusted by moms since 1919, Stride Rite is the iconic children's shoe brand in the United States that has also been expanding internationally across Europe. Stride Rite is focused on enriching the journey of childhood one step at a time ensuring the proper development of children's feet. The brand has an unwavering commitment to innovation, technology, quality, health and style.
"We are thrilled to bring this iconic brand to Asia," said Pieter Schats, a senior executive of Li & Fung Retailing. "With its 90-year leadership position and passion for excellence in design, innovation, research and technology, Stride Rite is a natural addition to our portfolio of retail offerings in the region."
Initial plans for the region include opening retail outlets in Hong Kong, Singapore and Malaysia in December 2010 closely followed by stores in China in 2011. All stores will feature the proprietary STEP -- Scientifically Tested Everyday Proven -- program, which is rooted in a recent SRCG-commissioned third-party study "The Effects of Footwear on Children Learning to Walk." The STEP program ensures quality, healthy footwear for every key developmental stage and is designed to help parents select the proper shoes to support every stage of a child's growth and development.
source:The Collective Brands