EXEC: Saucony, Merrell and K-Swiss China Retail Partner Sees Slower Q1 Growth

Source：CHINA SPORTING GOODS FEDERATIONRelease time：2024-04-24Clicks：

Article From：sgbonline

Xtep International, the China retail partner for the Saucony, Merrell, K·Swiss, and Palladium brands, in addition to Xtep brand stores, and now a 40 percent owner of the Saucony IP in China, reported that retail sell-through growth in the 2024 first quarter, including brick-and-mortar and online channels, increased in the high-single-digits versus the year-ago comparative period.

The solid growth trend represents a moderation from the 20 percent revenue increase in Q1 2023.

Xtep International said the retail discount level was in the 25 percent to 30 percent range, consistent with the year-ago period.

Channel inventory was estimated as 4 months to 4.5 months on hand, an improvement from the 5 months on hand in the 2023 first quarter.

The company had 110 Saucony-branded stores and four Merrell-branded stores operational in Mainland China at the end of 2023. The company reported 101 K-Swiss stores in the Asia Pacific region at the end of the year, with 94 Palladium brand stores to end 2023.