Recently, Belle Group, the women's footwear retailer, won the favour of world's largest luxury goods group LVMH of France. LVMH Group will become a strategic investor with 10% shares of Belle. It is reported that LVMH will not appoint staff to join Belle's management team in a short period of time.
Ouyang Kun, CEO of Beijing representative office of World Luxury Goods Association, said: "The capital injection action shows great cooperation potential between the two sides. LVMH may have its expansion in domestic market through cooperation with Belle, and can make up for the weak sales in footwear industry at the same time. It is a common move for foreign company of luxury goods to broaden their business into footwear market. As a matter of fact, within two years, there will be more similar phenomena besides the action taken by LVMH. "
Ouyang Kun, CEO of Beijing representative office of World Luxury Goods Association, said: "The capital injection action shows great cooperation potential between the two sides. LVMH may have its expansion in domestic market through cooperation with Belle, and can make up for the weak sales in footwear industry at the same time. It is a common move for foreign company of luxury goods to broaden their business into footwear market. As a matter of fact, within two years, there will be more similar phenomena besides the action taken by LVMH. "
