Shoe Brands Jointly Establish Joint Ventures With Long-Term Franchised Franchisees In Hongkong.

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The brand Giuseppe Zanotti has established a joint venture with the long term partner Hongkong franchisee to expand its business in Greater China.

Giuseppe Zanotti established its Asia office in Hongkong in 2013.

Giuseppe Zanotti holding company Vicini SpA holds 51% of the new company, while the Life Luxury group controls the remaining part.

Giuseppe Zanotti said the new company, called Giuseppe Zanotti Design Hongkong Limited by Share Ltd, will help brands accelerate growth in the coming years.

Giuseppe Zanotti entered the Chinese market in 2007 through a franchise agreement with Life Luxury group.

At present, the brand has 15 stores in Greater China and plans to open a new store in Nanjing next month.

Giuseppe Zanotti started shoemaking in 80s, and founded the same brand in the early 90s and bought the Vicini shoe factory.

In 2000, Giuseppe Zanotti's first independent store opened in Milan, with more than 100 sales outlets worldwide.

According to the estimate of research institutions, Giuseppe Zanotti has a revenue of about 12 million euros and a market capitalization of about 300 million euros.

In 2014, Giuseppe Zanotti was distributed to the private investment firm.

Vicini SpA owns the brand and proxy of Giuseppe Zanotti, and has the same name brand Vicini, and produces shoes for Balmain, Christopher Kane and other luxury brands.

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