Running Shoes Records Strong Sales Order Growth of 40%
HONG KONG, Feb. 1 /PRNewswire-Asia/ -- The leading fashion sportswear enterprise in the PRC - Xtep International Holdings Limited ("Xtep" or the "Company", together with its subsidiaries the "Group", stock code: 1368) concluded its 2010 3Q sales fair in Hefei City, Anhui Province, the PRC in January 2010. The sales fair, which was attended by over 5,000 distributors and franchisees, recorded strong sales order book growth of 23% year-on-year in sales value. Sales orders values for apparel products rose 25% year-on-year, while that of footwear grew 22%. Order volume for both product types recorded double digit growth, while the average selling prices ("ASPs") posted single digit growth. Of these, the growth of running shoes, a key product category of the Group, recorded strong sales order growth of 40% year-on-year, which was driven by a 30% volume growth and a 10% ASP growth.
Mr. Ding Shui Po, Chairman and Chief Executive Officer of Xtep said, "The economic rebound and strong domestic demand in the PRC have bolstered Xtep's encouraging sales orders growth in the first three quarters in 2010. Furthermore, the Group has recently unveiled a sponsorship agreement with Birmingham City Football Club. Being the first PRC sportswear brand to have a presence in English Premier League, Xtep has successfully stretched its foothold to international markets. Forging ahead, we will continue to embrace the Group's motto of 'sports like no other' by offering unique fashion sports items while bringing our customers the best possible sporting experience."
One of the core competencies of Xtep has been its diversifying product designs. The Group has launched a number of new distinguished product series. A total of 408 and 328 designs of apparel and footwear products were launched respectively in the third quarter of 2010. Two new footwear product lines namely "Fashion Running Series" and "Professional Running Series" have been launched. Products under "Professional Running Series" consisted of an efficient energy saving function - the "Double-Core II Shock Absorption". As to apparel products, "Urban Environmental Series" which emphasizes nature and harmony have been introduced. The Group has also launched the "Outdoor Series" with a wind and rain resistant outer layer and warmth enhancing inner layer, which is an excellent choice for having outdoor activities under different weather conditions.
About Xtep International Holdings Limited
Xtep International Holdings Limited is a listed company on the main board of the Hong Kong Stock Exchange. The Xtep brand is the leading fashion sportswear brand in the PRC. The Group is principally engaged in the design, development, manufacture, sales and marketing of sportswear products. It has developed an extensive nationwide distribution network covering 31 provinces, autonomous regions and municipalities in the PRC.
Issued by Porda International (Finance) PR Group for and on behalf of Xtep International Holdings Limited.
For further information, please contact:
Xtep International Holdings Limited
Ms Frances Leung
Tel: +852-2152-0813
Fax: +852-2153-0330
Email: frances.leung@xtep.com.hk
Porda International (Finance) PR Group
Ms Winnie Chan
Tel: +852-3150-6775
Email: winnie.chan@pordafinance.com.hk
Ms Ada Leung
Tel: +852-3150-6732
Email: ada.leung@pordafinance.com.hk
Ms Samantha Yeung
Tel: +852-3150-6735
Fax: +852-3150-6728
Email: samantha.yeung@pordafinance.com.hk