In line with its plan to increase its penetration of...

In line with its plan to increase its penetration of the Chinese market, Hongguo International Holdings of Singapore will introduce a new brand of women’s shoes, E.blan, in the 1st quarter of this year. E.blan will be a mid-range fashion brand of shoes sold in 300-400 “third-and fourth-tier cities” such as Chongqing or Linyi. Hongguo says the market segment in these places is different from what it is in first- and second-tier cities such as Beijing or Shanghai, which are serviced by the group’s C.banner brand. E.blan will be aimed at a younger age group with lower incomes. E.blan will be priced at 200-350 renminbi (€19-$24), while C.banner runs at CNY400-600 per pair. The launch will be funded from internal resources.