Cornell Group to invest 2 billion yuan to build industrial park in Russia

Cornell Group to invest 2 billion yuan to build industrial park in Russia

Yesterday, Kangxi Group President Zheng Xiukang revealed that Kangnai Group will invest 2 billion yuan to build an industrial park in the Russian Far East. “The project is divided into three phases. The first phase will invest 600 million yuan, and the sales will reach 20 billion after 5 years of completion. yuan."

"This year will take the first step and make substantial input," said Zhou Jinjun, executive vice president of Cornell Group. This industrial park can accommodate 60 companies and now has seven or eight companies, including the Cornell factory. According to Zheng Xiukang, this is a sign of the further escalation of Kangnai's internationalization strategy.

Founded in 1980, Cornell Group is one of the largest shoe companies in China. It has a 10% market share in China's medium-to-high-end leather shoes. "The sales reached 1.5 billion yuan in 2005 and it is expected to reach 2 billion yuan this year," said Zhou Jinlu.

Currently, Cornell has opened more than 100 stores in more than 20 countries around the world. Overseas branded leather shoes account for about 10% of Conner's sales. At the same time, Cornell Group also plans to open 1,000 overseas specialty stores (cabinet) within five years.

“Our strategy of internationalization is to go out, go in and go up.” Zheng Laili, deputy chief of the Cornell Group, said that she believes that the Cornell Group has implemented the strategy of going out and going into the country and is now starting to implement “going up.” The construction of an overseas industrial park in Russia is the first step to take.

According to reports, the overseas industrial parks are preparing to introduce more companies in garments, lighters, furniture, leather shoes and other domestic saturated and over-competitive industries. Generally semi-finished products are completed domestically and assembled overseas. According to the Cornell Group, the industrial park was built by a private company in Kangnai and Heilongjiang.

Zheng Laili's answer to whether or not to undertake overseas mergers and acquisitions is "depending on the circumstances."

Recently, EU countries’ restrictions on the import of Chinese shoes caused Wenzhou shoe companies to reduce orders by about 50%. Zheng Xiukang believes that this effect is only temporary.