On 1st February, the very first pair of finished shoe was completed, achieving a breakthrough of finished shoe production in Suzhou and marking the great opportunity for the development of Dongyi Shoes.
On 3rd March, Dongyi Shoes (Suzhou) Co., Ltd. was registered and established. On 28th July, phase 1 of Dongyi (Suzhou) industrial park project commenced.
In October, the company moved to “China Shoe Capital” Dongyi Industrial Park, completing its first strategic shifting in Dongyi history. After moving to the new industrial park, Dongyi Company built Dongyi Industrial Park into a multi-function, full-range and high-standard shoe manufacturing base that integrates office, trading, manufacturing and living all in one.
With a registered capital of 6 million dollars, Dongyi has become a non-regional enterprise in China and changed its name into Dongyi Shoes Co., Ltd.. Dongyi purchased 168 mu (equivalent to 112000 square meters) of land in “China Shoe Capital” and invested 120 million Yuan for the construction of Dongyi Industrial Park.
In August, Dongyi’s new plant was completed and put into operation. It has a 20000 sq.m plant, nine assembly lines and sophisticated equipment imported from Italy. It has grown into a large shoe manufacturing company with a daily production capacity of 15000 pairs, fixed assets of 110 million Yuan, an annual production of 4.5 million pairs, and an output value of 300 million Yuan.
In August, Dongyi Company increased its capital and share to 600,000 U.S. dollars.
Dongyi also ended the plant lease history and moved into a standard plant in the national level economic and technological development zone.
In September 1991, sino-foreign joint venture Wenzhou Dongyi Shoe Co., Ltd. was established with a registered capital of 380,000 U.S. dollars, completing the initial capital accumulation. We leased a 1400 sq.m warehouse on the second floor as the plant. In 1992, Dongyi entered a new development phase.
Dongfeng Industrial Art leased two light warehouses.
In June 1986, Dongfeng Gongyi Leather Shoes Factory was founded with a registered capital of 46000 Yuan.