Xtep's First-half Revenue Jumped Nearly 40% Year on Year
On Aug 23, 2022, the Chinese sports brand Xstep released its interim financial results. In the first half of 2022, Xstep achieved 5.684 billion yuan of revenue, up 37.5 percent year on year; with a profit of 922 million yuan, up 34.8%.
Under the impacts of the pandemic, Xtep takes a lead with a nearly 40% increase among the three major domestic sports brands. According to Xtep's report, the growth is mainly attributed to the orders of popular sports goods increasing, and the continued growth of the e-commerce business and the children's products sales.
According to Xtep launched the fifth five-year development plan, Xtep’s main brand revenue will reach 20 billion yuan by 2025, with a compound annual growth rate of more than 23%, and the newly established brand is expected to reach $4 billion in revenue by 2025, with a compound annual growth rate of more than 30%.
Xtep said we came into a post-pandemic era, our medium to long term business remains optimistic, we will continue to focus on the development of the running business, and enhance the operational capabilities of multiple brands for achieving long-term growth."
Source: chinaleather.org
https://www.chinaleather.org/front/article/123475/366