Michelin will move from famous tires to shoes. At present, it is teaming up with the Chinese industrial group Jihua to produce 50 million rubber soles for sports shoes of various types: from running shoes and cycling shoes to motorcycle shoes and trekking boots.
The cooperation agreement also includes JV International, an Italian company with offices in Verona and Tavernerio, controlled by the Jihua group. With the help of the resources of this company, Michelin and Jihua will jointly enter the global sports footwear market, with a total volume of about 200 million euros. The groups set themselves the goal of winning 10% in five years.
The Michelin logo will stand on jointly produced soles, and it is the French company that will be promoting the new product. The Jihua Group will provide its production facilities, while JV will be responsible for marketing and design, which will develop soles in direct contact with customers.
It is known that the general idea of the design of a new product will resonate with the famous Michelin tires, in addition, the French company will provide a number of its innovative technologies and materials.