Xtep International Holdings Limited is a Chinese sportswear company based in Xiamen, Fujian.[2] Established in 2001, the company has been traded on the Hong Kong Stock Exchange since 2008.[3]
Xtep engages mainly in the design, development, manufacturing, sales, marketing and brand management of sports equipment, including footwear, apparel, and accessories. Xtep is a leading professional sports brand with an extensive distribution network of over 6,300 stores covering 31 provinces, autonomous regions and municipalities across the PRC and overseas.[4][5] In 2019, Xtep had further diversified its brand portfolio which now includes four international brands, namely K-Swiss, Palladium, and the Chinese rights to Saucony and Merrell. Xtep is a constituent of the MSCI China Small Cap Index, Hang Seng Composite Index Series and Shenzhen-Hong Kong Stock Connect.
Business Development
The appointment of Hong Kong movie star Nicholas Tse as Xtep's spokesperson in 2001 marked the precedent of entertainment star spokesmanship among sports brands in Mainland China. The sales of "Fire Shoes" products reached 1.2 million pairs in a few months.
In 2015, Xtep embarked on a journey as a professional sports brand with a focus on running. From 2015 to date, Xtep has remained as the sportswear sponsor of the highest number of marathons in Mainland China. It has also sponsored numerous world-famous international sports teams, athletes, celebrities and variety shows.
Xtep adopted a multi-brand strategy in 2019. On 4 March, Xtep entered into an agreement with Wolverine World Wide Inc., a designer, marketer and licensor of a broad range of world's leading footwear and apparel brands, to form a joint venture to carry out the development, marketing and distribution of footwear, apparel and accessories under the Merrell and Saucony brands in Mainland China, Hong Kong and Macau.[6] On 1 August, Xtep completed the acquisition of K-Swiss Holdings, Inc. which holds globally renowned brands, K-Swiss and Palladium, for a cash consideration of US$260 million (approximately HK$2.03 billion).[7][8]
In August 2019, Xtep signed on famous Asian American basketball player Jeremy Lin as spokesperson, marking its foray into the basketball business realm. Xtep also unveiled its "Basketball Product Co-Creation Plan" to come up with basketball products via product co-creation.[9]
