Refer China: Billionaire, 84yo Chinese Shoe King to Cut Ties with Foreign Son & Daughter-in-law

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Billionaire, 84yo Chinese Shoe King to Cut Ties with Foreign Son & Daughter-in-law

In a story that sounds like it was pulled straight from a business drama, the founder of one of China's oldest shoe companies has publicly cut ties with his own son—over control, nationality, and the future of a legacy.

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On January 3, 2026, Wang Hai, founder of the nearly 100-year-old footwear company DoubleStar Mingren, released a public statement declaring that he had cut off all personal and professional relations with his son Wang Jun and daughter-in-law Xu Ying, both of whom hold U.S. citizenship. He accused them of attempting to seize control of the business, locking him out of operations, and erasing his legacy.

Wang's most pointed accusation is that a Chinese national brand should never be led by foreign citizens.

A Legacy Built on Shoes

Founded in 1921, DoubleStar Mingren traces its roots to Qingdao's ninth state-owned rubber factory and grew into one of China's most iconic footwear brands. Under Wang Hai's leadership during China's reform era, the brand became a national success, selling over 30 million pairs of shoes annually in the 1980s and 1990s and topping domestic sales for 15 consecutive years.

Wang Hai himself was dubbed "China's Shoe King." With a net worth estimated at ¥32.1 billion RMB (~$4.5 billion USD), he received dozens of national honors and led the brand's expansion into apparel, logistics, real estate, and exports to more than 100 countries.

It's important to clarify: DoubleStar Mingren is not the same as DoubleStar, the publicly listed tire manufacturer. Though the two once shared a parent company, they officially split in 2008. DoubleStar now focuses on tire production, while DoubleStar Mingren operates independently in the footwear and apparel sector and remains privately controlled.

Power Struggles and Family Fallout

The cracks in the family-business relationship appeared in 2022, when Xu Ying, through her company, became the largest shareholder of DoubleStar Mingren, acquiring nearly 57% of shares. Although Wang Hai retained the chairman title, he effectively lost decision-making power.

By May 2025, tensions erupted publicly. Wang accused his son and daughter-in-law of forcibly taking company stamps, making executive decisions without consent, and pressuring him to step down. Xu Ying claimed Wang was no longer the legal representative, releasing a statement that he had been formally removed by the board in May 2025.

She also alleged Wang had illegally created and used new company seals—claims he later denied in a countersuit, insisting the board meeting was illegitimate.

Breaking the Bloodline

Then, on January 3, 2026, came the ultimate blow: Wang Hai issued a statement not just contesting control, but declaring an end to bloodline succession. He accused the couple of "founder erasure"—removing his image from branding, disabling trademarks tied to his name, and cutting him off financially.

Most strikingly, Wang pointed to their U.S. citizenship as incompatible with leading a restructured state-owned brand like DoubleStar Mingren, which he called "a Chinese people's national brand."

He pledged to establish a "DoubleStar Mingren Brand Succession Committee" to implement a professional successor model, favoring capable managers over family ties.

What's at Stake

The family dispute, once a behind-the-scenes power struggle, has now burst into public view. Court cases are ongoing. Wang's reputation as the founder remains potent, but legally, he may already be sidelined.

The family feud has sparked mixed reactions online. Some support Wang Hai's stance. Others are more skeptical, asking: "Why didn't he object when they changed nationality years ago?" or "Don't turn this into a patriotic crusade."

What happens next? We'll just have to wait and see.

Source: 新民晚报, 红星新闻