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Xtep International Holdings completes acquisition of KSGB

14
Aug '19
Pic: Xtep International
Pic: Xtep International
Hong Kong based Chinese sportswear retailer Xtep International Holdings Ltd recently announced it has finished the process of acquiring KSGB, the Los Angeles based multi-brand company comprising the K-Swiss, Palladium and Supra brands. Xtep will now focus on elevating the equity of the brands in the global marketplace with premium positioning and quality.

As part of the Xtep family, KSGB brands will now benefit from the extensive resources within the Xtep Group, including research and development, innovation, supply chain, retail and expertise in the China market, which remains a huge opportunity for the brands, according to an Xtep press release.

Michael Yuan, president of Xtep Global Brands Group and chief executive officer of KSGB, will lead the KSGB business, alongside Xtep corporate development director James Ting as the chief financial officer of KSGB.

Xtep began its business in 1989, producing athletic footwear for other well-known brands, and created the standalone Xtep brand in 2001.

The Xtep brand is centred on running, but maintains a fashion sportswear brand image Chinese consumers. The brand grew over 20 per cent in 2018, with retail sales of close to $2 billion across 6,400 Xtep retail stores. (DS)

Fibre2Fashion News Desk – India


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