World Footwear

Companies

Wolverine partners with leading Chinese sportswear retailer

May 15, 2019 China
Wolverine partners with leading Chinese sportswear retailer
Joint venture leverages the retail and product expertise of Xtep International Holdings Limited to grow the Merrell and Saucony brands in Mainland China
The Michigan-based casual, lifestyle, work, outdoor and athletic products announced they have entered into a joint venture agreement with Xtep International Holdings Limited, a leading Chinese sportswear retailer, to develop, market and distribute Merrell and Saucony products in mainland China, Hong Kong and Macau. This is an important element of Wolverine’s near-term plan to make strategic investments in key international markets. The joint venture is expected to begin operating in the back half of 2019.

Xtep is a powerful vertical player in the fast-growing sportswear market, with over 6 200 stores in 31 provinces and municipalities across China, including a strong network of distributors and shopping mall operators. The joint venture plans to open new stores under the Merrell and Saucony banners, with the majority slated for shopping malls in China’s larger cities, coupled with an increasing presence for these brands in Hong Kong and Macau.

“Wolverine is extremely pleased to partner with Xtep to accelerate the growth of two of our best-known global brands – Saucony and Merrell – in the critical markets of mainland China, Hong Kong and Macau”, commented Blake W. Krueger, Chairman, Chief Executive Officer and President of Wolverine, adding: “We have seen incredible sportswear growth in these markets, and our brands are now poised to excel as we engage Xtep’s significant retail presence and regional expertise to tap into the booming running and outdoor sectors.”

Mr. Ding Shui Po, Chairman and Chief Executive Officer of Xtep, commented: “Over the years, Xtep has been committed to providing fashionable, high-performance sports products to consumers in pursuit of our mission to become a multi-brand portfolio group capable of satisfying different customers’ needs. We are delighted to have Wolverine, a global company with a portfolio of premium brands, as our partner. We look forward to working shoulder-to-shoulder with them to seize the numerous business opportunities we see in these key Asian markets. Leveraging the combined resources and strengths of both Xtep and Wolverine, we expect the joint venture will reach a large group of sophisticated customers.”

Image credits: Behance

Related Events

  • Apr
    10
    Apr 10-Apr 12, 2024 | Shenzhen, China

    Première Vision Shenzhen

  • Apr
    25
    Apr 25-Apr 27, 2024 | Shangai, China

    China International Occupational Safety & Health Goods Expo

  • May
    6
    May 6-May 8, 2024 | Shanghai, China

    SISE Shanghai International Footwear Exhibition

  • May
    29
    May 29-May 31, 2024 | Guangzhou, China

    Shoes & Leather Guangzhou

Related Organizations

  • CNLIC - China National Light Industry Council

    CNLIC - China National Light Industry Council

    China
  • CLIA - China Leather Industry Association

    CLIA - China Leather Industry Association

    China
  • Wenzhou Ouhai District Shoe Leather Industry Association of Wenzhou

    Wenzhou Ouhai District Shoe Leather Industry Association of Wenzhou

    China
  • China Sewing Machinery Association

    China Sewing Machinery Association

    China