Xtep International Holdings Limited gave a glimpse into the company’s future at an event in Beijing last month.
At the event, the Chinese-based parent company of K-Swiss launched its milestone brand strategy dubbed the “World-class Running Shoes of China Xtep.” According to the company, this strategy marks a “new chapter of innovation” for Xtep as it launches the latest additions to its 160X running shoe series – the feature-packed 160X 5.0 Pro and 160X 5.0 models.
The new 160X running shoes adopt the brand’s Xtep Ace midsole technology with stronger propulsion and stability, which is coupled with Xtep’s new Light Flex shoe upper technology that offers breathability while reducing the weight of the shoe.
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“With over 16 years of experience in specializing in performance running gear, Xtep has established a robust product portfolio spanning all levels, from amateur to professional,” the company said in a press release on Monday. “This running pedigree was evident in the first half of 2023, as Xtep cemented its No. 1 position in China with a 42 percent wear rate among the top 100 male marathoners.”
In March, the company noted that runner He Jie wore the Xtep 160X Pro in a marathon event in Wuxi, Jiangsu Province, and broke the Chinese men’s marathon national record, which had remained untouched for nearly 15 years. And in the past year, runners wearing the 160X series have secured 17 World Athletics Label Road Races championships, Xtep said.
What’s more, the company, which also has a joint venture with Wolverine for the Saucony and Merrell brands in the region, is launching several other initiatives to bring investments into “key international regions” – like Europe, the Middle East and Africa – as part of its global development roadmap.
These investments include store opening support to provide guidance for merchandizing, display and operation, integrated packages to support store openings, and both online and on-site training guides. Xtep said it will also be investing in providing store design proposal support and coordinate account manager, logistics expert, visual merchandising team and merchandising experts to facilitate store openings.
Looking ahead, Xtep added that it will “continually advance” product research and development as well as innovation, boost support for competitions and athletes, and facilitate running club operations to lead running industry development.
Xtep International Holdings Ltd. completed its acquisition of K-Swiss Global Brands, which comprises the K-Swiss, Supra and Palladium labels, in 2019. The first steps in its plan at the time of acquisition included building a brand platform and positioning specifically for China, as well as creating an expanded product line and establishing an effective retail strategy.
Last month, Xtep International Holdings reported a 14.8 percent increase in revenue to 6.522 billion Chinese yen ($891.96 million, based on current exchange rate) in the first half of 2023.
“Against a backdrop of increased public health awareness in the wake of the pandemic and ample government support for the sports industry to stimulate continued demand for sportswear, our specialization in functional running products for mass market consumers seeking value for money will enable us to navigate these market adjustments smoothly,” Ding Shui Po, chairman of Xtep International, said in the company’s earnings release last month. “We remain optimistic about the medium- to long-term prospects of the sportswear sector in Mainland China.”
