Xtep reports 'unwavering optimism' in sportswear market
Sports group Xtep has reported year-on-year growth of 14.8% for the six months ended June 30, resulting in revenues of ¥6.5 billion or $890 million.
The company marked 15 years since its listing on the Hong Kong Stock Exchange in June.
It currently counts 8,200-plus stores across the Asia-Pacific, North America and EMEA (Europe, the Middle East and Africa). In addition to group-owned brands Xtep, Xtep Kids, K-Swiss and Palladium, the organisation has held the rights to develop and distribute Merrell and Saucony footwear, apparel and accessories in mainland China, Hong Kong and Macau.
Chairman, Ding Shui Po, said of the results: “While China’s economy and consumption are slowing, our optimism in the resilience and growth potential of the sportswear sector in the long term remains unwavering.
“Fuelled by emerging fitness culture and favourable national policies that support the [rising] demand for adult and children’s sportswear, our expertise in running – the fastest-growing sport of all categories – reinforces our confidence in the future growth of our business."
The group celebrated record-level revenues last year.
