American Shoe Brand Fox World Wants To March Into Online Retail Business

Fox world announced recently that it will close 140 stores in the next 18 months, most of which are the stores of its famous brand Stride Rite.

The main purpose of closing stores is to cater for online consumption, save physical stores and increase investment in online retail channels.

However, the ultimate goal of the company is to build online and offline sales channels, allowing consumers to buy their products at any time and place.

From the US Internet retailer's recent reports, it is known that Fox World Limited owns Stride Rite, Hush Puppies, Cordes, Sperry and other famous shoe brands.

After closing the store, the company will invest more in the online retail sector.

Not long ago, fox world held a general meeting of shareholders, and disclosed the second quarter 2014 earnings report.

Blake Krueger, President of the company, said at the conference that consumers are increasingly fond of convenience.

In the past few quarters, this trend will become more apparent.

Now consumers want to get multi-channel shopping experience, online and offline want to experience one.

As an enterprise, we should keep pace with market demand and satisfy the aspirations of these new customers.

Of the 140 stores to close, 60 will be closed in the fiscal year of 2014 and the rest will be closed in 2015.

The company estimates that the cost of closing the store is around 30 million -3700 million, but after the closure of the store, the company can save $11 million a year.

Blake Krueger said: "we will pfer these savings to online retail, mobile e-commerce, and full channel services, so that consumers can buy our products anytime and anywhere online and in real stores."

Wolverine World Wide in "

The top 500 retailers ranked 240, with online sales of $85 million 200 thousand in 2013.

It is understood that

Wolverine World Wide (Inc.) shoes sell to over 65000 department stores, chain stores, mail order catalogues, special retail outlets, hypermarkets and 56 factory outlets in the United States.

The company owns the largest pig leather tannery in the United States, 18% of which is for its own shoes and the other for other companies.

Like other shoe factories in the United States, the fox world is facing fierce competition from imported shoes.

However, Wolverine has maintained an exuberant sales momentum both in the international and domestic markets.

The key to their success is the rapid updating of styles and the provision of high quality products to customers.