Sportswear brands Merrell and Saucony heading to China
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Chinese sportswear retailer Xtep has signed a deal with Wolverine World Wide to distribute Merrell and Saucony products in Mainland China, Hong Kong and Macau.
The joint venture plans to start operating in the second half of this year.
“We are delighted to have Wolverine, a global company with a portfolio of premium brands, as our partner,” said Ding Shui Po, Xtep chairman and CEO. “We look forward to working shoulder-to-shoulder with them to seize the numerous business opportunities we see in these key Asian markets.”
New stores will trade under the Merrell and Saucony banners, with the majority slated for shopping malls in China’s larger cities. Xtep plans an expanded presence for both brands in Hong Kong and Macau.
“Wolverine is extremely pleased to partner with Xtep to accelerate the growth of two of our best-known global brands – Saucony and Merrell – in the critical markets of mainland China, Hong Kong and Macau,” added Blake W. Krueger, chairman, CEO and president of Wolverine.
“We have seen incredible sportswear growth in these markets, and our brands are now poised to excel as we engage Xtep’s significant retail presence and regional expertise to tap into the booming running and outdoor sectors.”
Questions & Answers
Q.Which specific regions will the new joint venture operate in?
Which specific regions will the new joint venture operate in?
The partnership between Xtep and Wolverine World Wide will distribute Merrell and Saucony products across Mainland China, Hong Kong, and Macau. These are described as key Asian markets for the brands.
Q.When is the new operation expected to begin trading?
When is the new operation expected to begin trading?
The joint venture between Xtep and Wolverine World Wide is scheduled to commence its operations during the second half of the current year. This marks the start of brand distribution.
Q.Where will the majority of the new Merrell and Saucony stores be located?
Where will the majority of the new Merrell and Saucony stores be located?
The new stores will primarily be situated within shopping malls located in China's larger cities. Xtep also intends an expanded presence for both brands in Hong Kong and Macau.
Q.What market sectors are the brands hoping to capitalise on with this partnership?
What market sectors are the brands hoping to capitalise on with this partnership?
Wolverine World Wide aims to tap into the booming running and outdoor sectors in these markets. They believe their brands are well-positioned for growth there, leveraging Xtep's expertise.
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