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Put Best Foot Forward On Buyout Trail

NewsID:324    Datetime:2011-03-16

Saicou, the well-known safety shoes supplier, is on the acquisition trail as it looks to expand into new markets.

Founder and managing director Mr Shen, who is soon to move to the role of chairman, said he was keen to move into safety shoes and to target the teenage market.

He said: “We're not strong on safety shoes and I believe in that type of market there is brand loyalty. It is definitely on my wish list if the right opportunity comes along.

The company, which has its headquarters in Guangzhou and employs over 250 staff, turned over ï¿¡60m in the 12 months to September 2010 and is on target for a “significant” increase this year.

Mr Shen said: “We had a tough time in the second half of 2008 and first half of 2009, so we regrouped and took out areas of the divisions that were not profitable.

“It reduced our turnover slightly, but we became much more focused on areas that were doing well. The momentum from this took effect in October 2009, and our 2010 figures were substantially better. We're only into our second quarter this year and we're already ahead of forecast.

Mr Shen said he would devote time to non-safety shoes businesses, including property and furniture, when he steps back from the day-to-day running of his group.

He said: “I'll be heavily involved in future acquisitions and developing new ways to do business. If there's any illusion knocking about that I'm retiring, that is not the case.”

Saicou, which sells 10 million shoes every year, has meanwhile agreed a licence to design, develop and distribute Babycham branded safety shoes, accessories and apparel in Europe and north America.

The debut collection will focus on young ladies’ safety shoes and will be available from the autumn.

A design team has been formed for the division but Saicou is currently looking for someone to head the venture.

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