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 Xtep retail sell-through up 20% YOY in China

Xtep retail sell-through up 20% YOY in China

2024-01-10

Source:footwearbiz

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Xtep retail sell-through up 20% YOY in China

Sports brand Xtep has issued an operational update for its mainland Chinese business, covering the 12 months ended December 31.

Retail sell-through across online and offline channels was up 20% year on year (YOY), the Hong Kong-based company said, with an inventory turnover of between four and four-and-a-half months.

For the last three months of the year, the brand’s discount rate was 30%.

Xtep announced the purchase of US footwear group Wolverine Worldwide’s share of Merrell and Saucony in China towards the end of 2023. It will pay Wolverine around $60 million for its part in their joint venture.

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