Letao rent two floors of a nice office building near Beijing’s prosperous Wangfujing walking street and stuffed more than 400 staff into the office at its peak in middle 2011.

In 2012, with the transition to its own-branded footwear, the Beijing-based startup shrank dramatically from 400 to 40 staff within one year. Additionally, its Hangzhou-based operational team downsized from 20 to less than 10.

And now it is not a good time for internet companies to build its own footwear brand. The biggest problem is, will consumers easily get attached to a newly created brand? Brand building couldn’t be finished in a day, and do Letao and its investors have the patience and enough cash to wait for that day?

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Kang Zhou

Kang is a Tech writer, Event planner and Chairman of Beijing 3 Day Startup.