Izod to open 155 stores in China
Izod, a sportswear brand owned by New York-based Phillips-Van Heusen Corp., has signed a deal with a Chinese company to open 155 stores in China in the next five years. Hempel International Group, the Hangshou, China-based company facilitating the deal, has signed a licensing agreement with Phillips-Van
Heusen to make and sell the sportswear brand for men and women in China, including Taiwan and Hong Kong. Hempel plans to open five stores in 2004, with another 15 launching by the end of 2005. Hempel's annual sales in its current 160 Chinese stores total $1 billion.
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