Belle International
Encyclopedia
Belle International Holdings Limited is the No. 1 woman's shoe retailer in the People's Republic of China
, with 22% domestic market share. It is engaged in the manufacturing
, distribution
and retail
sales
of footwear
products. It offers a number of brand names on its footwear business, including Belle, Staccato, Teenmix, Tata, Fato, JipiJapa, Joy & Peace and Bata. As of its IPO in May 2007, the company had a retail network comprising 3,828 retail outlets in 150 cities in China and a network of 35 retail outlets in Hong Kong, Macau and the US. In September 2008, Belle was named No. 8 in the BusinessWeek Asia 50, Businessweek
's annual ranking of top Asian companies.
, Guangdong
Province. He started Belle International in 1991 as a shoe wholesale manufacturer, and the company only expanded into retail in 2004. It attracted private equity investors including Morgan Stanley
and domestic Chinese private equity manager CDH. In May 2007 Belle raised $1.1 billion in an IPO on the Hong Kong Stock Exchange
. The offering was priced at the top of the range, at 31 times estimated 2007 earnings, after retail investors ordered more than 500 times the shares initially earmarked for them. According to the IPO prospectus, an investment company linked to Groupe Arnault, parent of French luxury goods group LVMH
Moët Hennessy Louis Vuitton, purchased $30 million worth of shares as a strategic corporate investor. Belle raised an additional $775 million in two secondary listings in November 2007 and April 2008, which it used to buy several competing brands.
In 2007, Belle reported profits of $291 million (up 102% over 2006) on sales of $1.7 billion (up 89% over 2006). Its three women's brands—-Staccato, Millie's, and Joy&Peace—-account for about a 50% share of the $90–$150 shoe segment in China.
Non-sports shoes account for 67% of sales, and licensing agreements with global brands make up the remainder. In 2006, Belle International won the contract to be the biggest distributor of Nike
and Adidas
in China. Belle International also operates other sports and leisure wear brands including Li Ning
, Reebok
, and Kappa (company)
.
In 2009, Belle sold its shares in Fila China to ANTA Sports
, which Fila China was its subsidiary (owned 85%)
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
, with 22% domestic market share. It is engaged in the manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
, distribution
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
and retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
of footwear
Footwear
Footwear consists of garments worn on the feet, for fashion, protection against the environment, and adornment. Being barefoot is commonly associated with poverty, but some cultures chose not to wear footwear at least in some situations....
products. It offers a number of brand names on its footwear business, including Belle, Staccato, Teenmix, Tata, Fato, JipiJapa, Joy & Peace and Bata. As of its IPO in May 2007, the company had a retail network comprising 3,828 retail outlets in 150 cities in China and a network of 35 retail outlets in Hong Kong, Macau and the US. In September 2008, Belle was named No. 8 in the BusinessWeek Asia 50, Businessweek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
's annual ranking of top Asian companies.
History
Belle's founder and chairman, Deng Yao, started Lai Wah Footwear Trading Ltd. in 1981 in ShenzhenShenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
, Guangdong
Guangdong
Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...
Province. He started Belle International in 1991 as a shoe wholesale manufacturer, and the company only expanded into retail in 2004. It attracted private equity investors including Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
and domestic Chinese private equity manager CDH. In May 2007 Belle raised $1.1 billion in an IPO on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
. The offering was priced at the top of the range, at 31 times estimated 2007 earnings, after retail investors ordered more than 500 times the shares initially earmarked for them. According to the IPO prospectus, an investment company linked to Groupe Arnault, parent of French luxury goods group LVMH
LVMH
LVMH Moët Hennessy • Louis Vuitton S.A., better known as LVMH, is a French multinational luxury goods conglomerate headquartered in Paris, Île-de-France, France. The company was formed after the 1987 merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger...
Moët Hennessy Louis Vuitton, purchased $30 million worth of shares as a strategic corporate investor. Belle raised an additional $775 million in two secondary listings in November 2007 and April 2008, which it used to buy several competing brands.
In 2007, Belle reported profits of $291 million (up 102% over 2006) on sales of $1.7 billion (up 89% over 2006). Its three women's brands—-Staccato, Millie's, and Joy&Peace—-account for about a 50% share of the $90–$150 shoe segment in China.
Non-sports shoes account for 67% of sales, and licensing agreements with global brands make up the remainder. In 2006, Belle International won the contract to be the biggest distributor of Nike
Nike, Inc.
Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered near Beaverton, Oregon, which is part of the Portland metropolitan area...
and Adidas
Adidas
Adidas AG is a German sports apparel manufacturer and parent company of the Adidas Group, which consists of the Reebok sportswear company, TaylorMade-Adidas golf company , and Rockport...
in China. Belle International also operates other sports and leisure wear brands including Li Ning
Li Ning
Li Ning is a well-known Chinese gymnast and entrepreneur. He was born in an ethnic Zhuang family.-Gymnastics career:...
, Reebok
Reebok
Reebok International Limited, a subsidiary of the German sportswear company Adidas since 2005, is a producer of Athletic shoes, apparel, and accessories. The name comes from the Afrikaans spelling of rhebok, a type of African antelope or gazelle...
, and Kappa (company)
Kappa (company)
Kappa is an Italian company specialized at the manufacture of sporting clothes and accessories, that started as a sock and underwear manufacturer in 1916 in Turin.-Logo:...
.
In 2009, Belle sold its shares in Fila China to ANTA Sports
Anta Sports
Anta Sports Products Limited is a branded sportswear company in China. It involves the business of designing, developing, manufacture and marketing sportswear, including sports footwear, apparel and accessory under its own brand name, ANTA...
, which Fila China was its subsidiary (owned 85%)