The MS (China) Sports Company Limited, a direct wholly-owned subsidiary of Xtep International Holdings Limited (Group) that operates under licensing and royalty agreements for the Merrell and Saucony brands and subsidiaries in China, is reporting three-month and full-year 2024 retail trends for the company’s core Xtep and Saucony brands.
The prior joint ventures between Xtep and Wolverine Worldwide were terminated at the end of 2023 and began operating under the new licensing and royalty agreements at the beginning of 2024.
Core Xtep Brand
- For the three-month period ended December 31, 2024, the Group said the core Xtep brand posted high-single-digit year-over-year growth for the offline and online channels in China, with a discount level of approximately 25 percent to 30 percent.
- For the full year, the core Xtep brand posted high-single-digit year-over-year growth for the offline and online channels in China, with a discount level of approximately 25 percent to 30 percent.
Saucony Brand
- For the three-month period ended December 31, 2024, the Group said the Saucony brand posted ~ 50 percent year-over-year growth for the offline and online channels in China.
- For the full year, the Saucony brand posted growth in excess of 60 percent year-over-year for the offline and online channels in China.
Image courtesy Saucony/Xtep International Holdings
