Xtep
| Company type | Public |
|---|---|
| Industry | Sportswear |
| Founded | 2001 |
| Headquarters | Xiamen , China |
Area served | China and abroad |
Key people | Ding Shui Po (Chairman) |
| Products | Footwear, apparel, accessories |
Xtep International Holdings Limited is a sportswear enterprise based in Xiamen, Fujian, China. Established in 2001, the company has been publicly traded on the Hong Kong Stock Exchange since 2008.
Specializing in the creation, production, marketing, sales, and brand management of sports equipment, Xtep's product range includes footwear, apparel, and related accessories. Recognized as a prominent professional sports brand, it operates an extensive retail network with over 6,300 outlets spanning 31 provinces, autonomous regions, and municipalities within China and abroad.
By the year 2019, Xtep had broadened its brand portfolio to encompass four international labels: K-Swiss, Palladium, along with the Chinese market rights for Saucony and Merrell. The company is listed within the MSCI China Small Cap Index, Hang Seng Composite Index Series, and participates in the Shenzhen-Hong Kong Stock Connect program.
Business Development
In 2001, Xtep set a trend in Mainland China by appointing Hong Kong film actor Nicholas Tse as its brand ambassador, pioneering celebrity endorsements among domestic sports brands. This strategy contributed to the rapid sale of 1.2 million pairs from its "Fire Shoes" collection within a few months.
Rebranding itself as a specialist running sports brand in 2015, Xtep has since become the leading sponsor of marathons throughout Mainland China and extended support to various global sports teams, athletes, entertainers, and television programs.
The company implemented a multi-brand approach starting in 2019. On March 4th, Xtep established a joint venture with Wolverine World Wide Inc. aimed at developing, marketing, and distributing Merrell and Saucony products across Mainland China, Hong Kong, and Macau. Later that year on August 1st, it completed the acquisition of K-Swiss Holdings, Inc., owner of both K-Swiss and Palladium brands, for approximately US$260 million (around HK$2.03 billion).
In August 2019, Asian American basketball player Jeremy Lin was signed as Xtep’s ambassador to mark the company’s entry into basketball. Concurrently, Xtep introduced a "Basketball Product Co-Creation Plan" to innovate new basketball-related merchandise.
Having previously provided kits for Premier League club Birmingham City in 2010 and La Liga side Villarreal in 2014, Xtep withdrew from major football sponsorships in 2017 to concentrate on running. The brand reentered football sponsorship mid-2018 by securing a three-year agreement with Saudi Professional League team Al-Shabab. Subsequently, on October 13th, 2019, Egyptian Premier League club Al Ittihad Alexandria designated Xtep as their official kit provider through 2022.
In May 2024, Xtep revealed intentions to divest the K-Swiss and Palladium brands back to its primary shareholder and chairman, Ding Shui Po, signaling a strategic refocus on its core running sports segment.