Beijing Stores Have Been Shut Down. Nine Hee Women'S Shoes Are About To Leave China.

The US women's shoes brand Nine West (Jiu Xi) is withdrawing from the Chinese market.

According to the Beijing Commercial Daily, Nine West's stores in Beijing have all been closed, and there are few stores in Shanghai, Shenzhen, Chengdu and Hangzhou. The company's headquarters in Dongguan has been disbanded. Prior to this, Nine West Tmall official website flagship store has also been closed. A notice issued by the flagship store said that due to the adjustment of the brand business, the store will be officially closed on August 10th, and the customer service will be extended until August 31st. Tmall related responsible person also confirmed to the Beijing Commercial Daily reporter that Nine West submitted a withdrawal application to Tmall on the day ago, and said that "Nine West should be withdrawn from the Chinese market in an all-round way". The specific reason is not explained.

In addition to the mainland market, Nine West stores in Hongkong and Taiwan will also be closed. GRI, the Asia based agent of the brand, issued a statement at the end of July this year, claiming that the bankruptcy of Nine West holdings affected the GRI group's financial affairs and affected its business promotion. After the assessment, it decided to Nine West and 7 of its brand collection shops CCSHOP. Shoe shoe And Clothes & Accessories The brand ended at the end of August and withdrew from Taiwan. In the Hongkong market, Nine West launched a farewell bid in May this year.

Withdrawing from the Chinese market is closely related to the strategic transformation of Nine West group. In April of this year, Nine West filed for bankruptcy. In June, the group sold its core brand Nine West and Bandolino to the US brand management company ABG by way of court auction. Nine West group said that after stripping the two brands, it could focus more on jewelry, clothing and denim business.

Nine West group was once the largest in the world. Women's leather shoes Designers, manufacturers and sellers once dominated the women's shoes Market in the United States. In a 1997 New York Times report, "every woman in the US has five pairs of shoes from Nine West". However, with the fierce competition of shoe brands and the weakness of retail market, Nine West's business revenue and profits have declined continuously in recent years, and in order to further expand, the group continuously seeks capital injection. In 1999, JonesApparel group Eight point eight five After buying Nine West group for 100 million, the company was forced to shut down factories and lay off workers. In 2014, JonesApparel sold the Nine West group at a price of US $4 billion 400 million. StefanL.Kaluzny Private equity funds are being controlled and delisted. Since then, the private equity fund has split the Nine West group into 6 different companies. The constant change of investors has damaged the sustainability of Nine West.

As early as in 1994, Nine West entered the Chinese market, positioned in the middle and high grade, and concentrated on department stores and outlets, which was once popular among the middle and high income groups. Over the next twenty years, the Brand Initiative has changed little. In recent years, the performance of Chinese department stores has been weak, and the movement has started to become popular. It has a great impact on Nine West, which is mainly made of high-heeled shoes.

The latest news about Nine West brand is that its dealer management and operation strategy company ABG has reached a strategic partnership with department store Kohl 's last month. Next year, Kohl's will introduce Nine West shoes, handbags and coats, and develop new women's wear series.