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Pou Chen allies with Daphne to explore ladies shoe market.

Taipei, Jan. 14, 2010 (CENS)--The Taiwan-based Pou Chen Corp., theworld's largest footwear

manufacturer, has recently signed acontract to ally with http://gahe.com/Pou-gamesDaphne

International Holdings Ltd., the No. 1ladies footwear brand in China, to jointly explore the Chinese

marketfor women's shoes and other international markets.

It is reported that pou hack toolDaphne has spent near NT$1 billion (US$30.3million at US$1 =

NT$33) to purchase a 60% stake in Pou Chen'sShanghai-based women shoe subsidiary AEE, which

now has a total of morethan 200 shoe stores in China, Hong Kong and Taiwan.

AEE was established in Shanghai about five years ago with initialcapital of HK$100 million or about

NT$411 million (US$NT$12.45 million),with Yue Yen Industrial Ltd., a Hong Kong-listed shoe

maker and also anaffiliate of Pou Chen, owning 60% of its stake as the largestshareholder.

However, after allying with Daphne, AEE has expanded itscapitalization to HK$260 million or aboutNT$1.069 billion (US$32.39million), with Daphne to command 60% of its shares, and Yue

Yen'sshareholding percentage to drop to 40%.

Last year AEE raked in revenues of 300 million renminbi (RMB) orabout NT$1.4 billion (US$42.42

million), with profits of about 10million RMB or NT$46.67 million (US$1.41 million). With

theparticipation of Daphne, AEE plans to largely boost the number of itssales outlets to 800-1,000

in three years and its annual revenues areexpected to soar to 1 billion RMB or about NT$4.664

billion (US$141.33million).

Besides, AEE has been authorized as the sole agent for ALDO, thelargest ladies footwear brand inCanada, to sell the brand shoes inChina, Hong Kong and Taiwan. Currently AEE-branded shoes in

China arepriced at 700-900 RMB per pair.

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No portion of this article can be reproduced without the express written permission from the

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