As a part of its efforts to establish itself as a more popular brand in China, Goodbaby Group, a leading producer-cum-retailer of baby care products, has obtained online retailing rights for US's leading sportswear group Nike Inc's children's wear.
Over 95 percent of China's baby and child products' market is dominated by several not-so-popular companies, while the 10 most popular brands represent a small share.
Pursuant to the deal, the Chinese conglomerate now has exclusive right to sell Nike's kidswear through its website – haohaizi.com.
The Chinese firm's online trade grew last year to 60 million Yuan and now with the new partnership, it aims to touch three billion Yuan mark over the next four years.
This would help Goodbaby to achieve its revenue target of 10 billion Yuan (US$ 1.6 billion) in home market by 2015.
Meanwhile, Nike said the partnership will enable it to explore opportunities that lie in digital space, which it presumes would play a decisive role in its future development. The online presence would open a new channel for the company to directly connect with its customers, Nike said.
It is not for the first time that the Chinese firm has collaborated with Nike, as it has been almost over a decade that the firm owns and operates around 900 Nike Young Athletes franchise outlets across China, and is thus expecting the new cooperation in online arena to also turn successful.
Fibre2fashion News Desk - China
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
