MS Sports Company Limited reports retail trends for its core Xtep and Saucony brands.
MS Sports Company Limited, a direct wholly owned subsidiary of Xtep International Holdings Ltd. that operates under licensing and royalties agreements for the Merrell and Saucony brands and subsidiaries in China, has reported on retail trends for its core Xtep and Saucony brands for the quarter and year ended Dec. 31, 2024.
The previous joint ventures between Xtep and Wolverine Worldwide were terminated at the end of 2023. The new licensing and royalty agreements began in early 2024.
Saucony up 40%
The Group reported that the Saucony brand achieved more than 40 percent year-over-year growth in the offline and online channels in China in the first quarter. The sales trend for the quarter was down sequentially from the approximately 60 percent growth in the fourth quarter of 2024.
Core Xtep Brand
For the three months ended March 31, the Group said the core Xtep brand achieved mid-single-digit year-over-year growth for the offline and online channels in China in the first quarter, with discounting ranging from 25 to 30 percent. The sales trend for the quarter was down sequentially from the high-single-digit growth in the fourth quarter of 2024.
Channel inventory turns for the Xtep brand were reported at “approximately” four months.
