Hi-Tec is reporting a sales increase of 20% for the first half of the year, exceeding internal expectations for the brand. Much of the growth was driven by the companys outdoor category, but management said that the increase was a direct result of organic growth through existing accounts throughout the brands various product categories, including Golf, Outdoor, Court, Athletic, and Tactical Military footwear.
Hi Tec also inked a 30 year arrangement with Fujian Taiya Shoes Material Co. Ltd. for the sale, manufacture, and distribution of Hi-Tec branded footwear. The agreement covers Hi-Tecs outdoor, athletic, and court categories. Taiya is based in Jinjiang, near Xiamen. Shortly, they will be opening a sales and marketing office for Hi-Tec in Beijing and a concept store will follow. The first products will be launched to the market for the Spring 2007 season.
Taiya aims to have 200 Hi-Tec stores operating within 3 years, with a further 300 to follow within 5 years. The initial sales target is C¥100 million ($12.6 mm) within 5 years.