Nine West Closes Last Beijing Shoe Shop as It Retreats From China Market
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Nine West China has closed its last Beijing store.
The New York-headquartered women’s footwear retailer, which filed for bankruptcy in April, was popular in China from the mid-90s but has struggled with increasing competition. It is now pulling out of the region entirely, citing poor management of its stores. It closed its online store last month.
Nine West China’s regional agency GRI Group has reported financial difficulties and withdrawn from Taiwan and Hong Kong.
Nine West Holdings is now focusing on jewellery and apparel, rather than shoe retailing.
Its Nine West and Bandolino footwear brands were sold to Authentic Brands Group in June for US$340 million.
Questions & Answers
Q.What led to Nine West's decision to leave the Chinese market entirely?
What led to Nine West's decision to leave the Chinese market entirely?
Nine West cited poor management of its stores as the reason for its complete withdrawal from the region. The company had also struggled with increasing competition since its peak popularity in the mid-90s.
Q.Which other regions has Nine West's regional agency also exited recently?
Which other regions has Nine West's regional agency also exited recently?
Nine West China’s regional agency, GRI Group, has also withdrawn from both Taiwan and Hong Kong. This follows their reporting of financial difficulties.
Q.What is Nine West Holdings focusing on now, following the sale of its footwear brands?
What is Nine West Holdings focusing on now, following the sale of its footwear brands?
Nine West Holdings is now focusing on jewellery and apparel. This shift comes after the sale of its Nine West and Bandolino footwear brands to Authentic Brands Group in June.
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