XTEP Works Hand In Hand With Saucony And Merrell To Open Up China Market

Today, XTEP announced a joint venture with Wolverine and will set up a joint venture to carry out the development, marketing and distribution of footwear, clothing and accessories in Saucony, Hongkong, Macao and Merrell.

The two brands have high reputation and reputation in the world, and the joint venture company will promote its development in China.

According to the joint venture agreement, XTEP and Wolverine will each pay approximately 155 million yuan to the joint venture company as the initial financing amount.

The joint venture will use XTEP's strong retail network and its close relationship with shopping center operators to launch Saucony (San cani) and Merrell (MAI LE) brand in mainland China, Hongkong and Macao, as well as its world-renowned running and outdoor shoes, clothing and accessories.

The joint venture will open new stores, most of which will be located in the shopping centres of the higher level cities in mainland China, while expanding its business base in Hongkong and Macao.

Store sales will adopt a two pronged strategy, while providing high-end classic products, and also tailor-made styles for Chinese people's shape and taste.

Over a hundred years of history, Wolverine is the leading shoe company with a number of well-known outdoor and sports brands.

Among many brands, Saucony is one of the world's four most famous running shoes brands with professional quality and high-end technology.

The brand is targeted at professional and amateur runners. Its product design, innovation and enhanced functional technology have won prizes, focusing on meeting the technical needs of runners. Their products provide them with great comfort and protection, leading the product innovation market.

Merrell is one of the most popular outdoor life brands in the world. It is highly appreciated for its high quality and tailoring technology.

With excellent design, quality, durability, functionality and comfort, Merrell (Mai Le) is known for developing outdoor experience products.

Known as "Rolls-Royce in the running shoes world" Saucony (St. John's)

World famous mountaineering shoes brand Merrell (MAI LE)

We believe that this cooperation will be a win-win situation and generate many synergies.

Wolverine has a well-known brand portfolio that runs across the field of running, outdoor and leisure. We can refer to the management experience of many brands from the other side.

XTEP's inherent advantages in the supply chain will provide more diversified products for Saucony (San Kang Ni) and Merrell (MAI LE), so that they will benefit from scale, from procurement, design, development, production to distribution.

XTEP has rich experience in the demand for Chinese consumers. We can design and produce some products suitable for Chinese body shape and taste for Saucony (st. Com) and Merrell (MAI LE).

XTEP is deep in the field of running, and Saucony (St John's) high tech running shoes are very good. This cooperation can make us the choice of more runners.

At present, outdoor sports is an emerging market in China. Merrell (MAI LE) focuses on outdoor shoes, with high quality and comfort, and has great potential for development.

XTEP has a strong retail network and good cooperation with shopping center operators. It also has a wealth of advertising and promotion resources to help Saucony (San Kang Ni) and Merrell (MAI LE) expand the Chinese market and reach more Chinese consumers.

We are confident and hopeful about this cooperation.

With XTEP's understanding of China's sporting goods market and the exchange of product technology and innovation, we can design high-quality sports products that meet the needs of Chinese consumers.

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