China Shoe Holdings, Inc. Announces Plans to Open Up to 1,000 Retail Stores
July 24 2007 - 2:46PM
PR Newswire (US)
NEW YORK, July 24 /PRNewswire-FirstCall/ -- China Shoe Holdings
(OTC:CHSH) (BULLETIN BOARD: CHSH) ("the Company") announced plans
plan to open retail stores in China to sell its own brand of shoes
as well as other shoes and related products commencing in January
2008. The first stage will involve opening approximately 100
company owned stores, with the ultimate goal of opening up to 1,000
stores in 2009, including franchised and non - company owned
stores. The Company is currently negotiating with private investors
in Europe to raise the funds to finance the project. The Company
will also consider acquiring existing retail stores to attain its
goals. China, with a population of about 1.3 billion people, along
with its dynamic economic growth, has a need for more local shoe
outlets to serve its domestic demand. The Company anticipates that
it will engage new management with retail experience in connection
with its proposed retail operations Mr. Gu Xianzhong, the President
and CEO of the Company commented, 'The entering of the retail
market of self-branded shoes in China can has an enormous profit
potential for the Company' Safe Harbor Statement This release may
contain forward-looking statements. These forward- looking
statements are neither promises nor guarantees, but involve risks
and uncertainties that may cause actual results to differ
materially from those in the forward-looking statements. Readers
should not place undue reliance on any such forward-looking
statements that are based solely on information known as of the
date of this release. China Shoe Holdings, Inc. disclaims any
obligation to update or revise any such statements to reflect any
change in expectations or in events, conditions or circumstances on
which any such statements may be based or that may affect the
likelihood that actual results will differ from those contained in
the forward-looking statement. DATASOURCE: China Shoe Holdings,
Inc. CONTACT: Jason Ma of China Shoe Holdings, +852-98350984, Fax,
+86-21-51686308, ; or Investors, Don Visco of D. Visco
Incorporated, +1-561-213-4469,
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