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Xtep Intl observes good sales in H1
03
Sep '08
According to the available statistics, in the first half of 2008, Xtep International Holdings Ltd, earned revenue worth 1.408 billion yuan, representing a boost of 174.3 percent over the same period of last year.

Of these, sales of footwear products increased from almost 378 million to nearly 704 million yuan, up by 86.3 percent, when compared to first six months of 2007. Clothing sales rose from 134 million yuan to nearly 687 million yuan in first half of 2008, representing a considerable rise of 414 percent.

From January to June this year, sales ratio of footwear and apparel products was 50 and 48.8 percent respectively.

Sports series by Disney and Colin under Xtep International Holdings, together gained about 95.05 million yuan.

The company will increase retail price 5-10 percent in 2009, however, retail prices of footwear and apparel products have already hiked 9 and 16 percent, in the first half of 2008. End-terminal retail sales realized a year-on-year growth of about 20 percent in July 2008, while August sales grew around 39 percent.

By the end of June, Xtep International had nearly 5,115 retail networks, up from 4,647 in 2007, including distributors and retailers run by third-party, Disney sports and Colin brands.

It is reported that Xtep and Disney plans to open 1,100 new stores this year, the sales area will be increased by 100,000 square meters. The company has three flagship stores now, which are located in Changsha, Wuhan and Hefei. Xtep plans to increase the number and take it to 10 this year.

The company has also increased input in product development and design. The private sportswear company has three special product design teams and one R & D team comprising of almost 381 people, in order to keep up with international trends. In the first half of 2008, Xtep Company introduced nearly 1,121 kinds of shoes, 1,347 types of garments and 1,057 varieties of matching accessories.

Fibre2fashion News Desk - China

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