ERJ staff report (DS)
Singapore -- Singapore-listed company Qian Feng Fabric Tech Limited has revealedplans to propel Goodyear into a â€œNo. 1 Leisureâ€ brand in China.
Commenting on its venture into brand management, Mr. Lin Daoqin, CEO and Executive
Director of Qian Feng, said: â€œOver the next 12 months, we will be focusing on establishing Goodyear as a
top tier fashion leisure brand in the northeastern China.â€
The Company had on 9 March 2011 received a letter from the Goodyear Tire & Rubber
Company (â€œGoodyearâ€) confirming that Qian Feng is a Master licensee of The Goodyear Tire &
Rubber Company (Goodyear), Akron, Ohio. USA.
As a Goodyear Master licensee Qian Feng
has been granted rights to produce, distribute, advertise and promote the products bearing
Goodyear trademarks which includes, amongst others, outdoor performance apparel for men,
women and children, outdoor and casual footwear for men, women and children, accessories,
bags, outdoor equipment, gifts and souvenirs.
The Company is exclusively authorised to sell in
Goodyear branded retail locations (shop-in-shops, license stores and flagship store) in the
Peoples' Republic of China and Singapore until 31 December 2015.
The Group intends to invest RMB 200 million into brand management, spread out in phases
over the next 5 years. This investment will be internally funded. However, the management will
also consider the appropriateness of other funding options such as bank borrowings, shares
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Press release from Qian Feng