Founding Family Of Footwear Giant Belle Takes A Big Step Into Hong Kong’s Startup Scene

Founding Family Of Footwear Giant Belle Takes A Big Step Into Hong Kong’s Startup Scene

Share to Linkedin For almost three decades, Tang Yiu quietly built a multibillion-dollar business in Hong Kong selling women's shoes across the Greater China region. The low-profile billionaire—ranked No. 37 on Forbes' latest Hong Kong Rich List, just below the likes of Duty Free Shoppers cofounder Robert Miller and former Esprit chairman Michael Ying—is among Hong Kong's most successful entrepreneurs. Now, the 87-year-old's little-known investment firm is backing some of the city's most promising startups and helping to nurture the next generation of Hong Kong entrepreneurs. Before his second act as an investor, Tang was the founder and chairman of Belle International, the largest retailer of women's footwear in China by revenue. Established in Hong Kong in 1991, Belle's shoes grew in popularity on the back of demand from China's surging middle class. Belle operated more than 20, 000 stores in mainland China, selling brands like Joy & Peace, Mirabell and Staccato, and distributing sportswear brands including Adidas and Nike. Belle listed on the Hong Kong stock exchange in 2007, raising $1. 1 billion and giving it a market capitalization of $6. 5 billion. It was one of the hottest listings in the city that year, with the likes of