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Xtep announced operational updates on business inMainland China for the fourth quarter and full year of 2023

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Xtep announced operational updates on business inMainland China for the fourth quarter and full year of 2023

2024-04-23 16:25:12

On 9th January, Xtep announced its 2023 fourth quarter and full year operational updates. For the fourth quarter, the core Xtep brand recorded an over 30% year-on year growth in its retail sell-through, with a retail discount of around 30% off. Forthe year ended 31st December 2023, retail sell through of the core Xtep brand recorded an over 20% year-on-year growth, with a retail channel inventory turnover of around 4 to 4.5 months. Xtep will continue to maintain competitive advantage to meet the evolving demands of consumers in China.

BUSINESS UPDATES:Xtep is committed to contributing to society and building a sustainable future

On 18th December, a magnitude 6.2 earthquake struck Linxia Hui Prefecture in Gansu Province. Xtep, in collaboration with the China Next Generation Education Foundation, donated supplies worth RMB20 million, including warm clothing and materials, to the affected areas in Gansu and Qinghai provinces, aiming to support frontline emergency reliefefforts and post-disaster reconstruction. As an ESG pioneer and trailblazer, Xtep considers giving back to society as part of its corporate culture. The company has integrated sustainability development governance into all facets of corporate management and operations.

SUSTAINABILITY:Xtep’s “160X” championship running shoes continue to empower champions

At the Guangzhou Double Gold race held on 10thDecember, Wu Xiangdong successfully clinched the Chinese men’s championship once again after Shanghai Marathon with Xtep’s “160X 5.0 PRO”. During the Jinjiang Marathon and Xiamen Haicang Half Marathon held on 3rd December, Xtep’s “160X” series provided exceptional support to runners, enabling them to secure victories in both the men's and women's championships. K‧Swiss SPONSORSHIP Among six major marathons in China in 2023, Xtep dominated its leading position with a 27.2% wear rate, surpassing all domestic and international brands. Xtep's running shoes have consistently witnessed runners enhancing their abilities, and the company will continue to explore the boundless possibilities of Chinese marathons.