Wolverine World Wide, a leading American footwear marketing and licensing company, has recently announced a new joint venture partnership with the popular Chinese sportswear retailer, Xtep International Holdings Limited. This collaboration is focused on expanding the reach of two renowned brands, Merrell and Saucony, in mainland China, Hong Kong, and Macau.
Set to commence in the latter part of 2019, the joint venture signifies a strategic move in Wolverine’s initiative to invest in key international markets and bolster its global footprint. Xtep is well-established in China with a vast network of over 6,200 stores across various regions, including a strong base of distributors and mall operators.
The primary goal of the partnership is to open new retail outlets showcasing Merrell and Saucony products, particularly in high-end shopping malls in major Chinese cities. Additionally, efforts will be made to enhance brand visibility in Hong Kong and Macau.
Blake W. Krueger, the chairman, CEO, and president of Wolverine, expressed his excitement about teaming up with Xtep to accelerate the growth of Saucony and Merrell in Asia. He highlighted the immense growth potential in the sportswear sector in the region, alongside Xtep’s strong retail presence and local knowledge.
In response, Ding Shui Po, the chairman and CEO of Xtep, shared his enthusiasm for collaborating with Wolverine, a global company known for its premium brands. He underscored the opportunity to leverage Wolverine’s expertise and drive in tapping into the lucrative running and outdoor sectors in key Asian markets.
Aside from Merrell and Saucony, Wolverine also boasts a portfolio of brands such as Sperry, Hush Puppies, Keds, and Stride Rite. The company serves as the global footwear licensee for Cat and Harley-Davidson brands, with products available in retailers across the U.S. and about 200 countries worldwide.
Through this joint venture, Wolverine World Wide aims to further establish its foothold in China’s burgeoning sportswear market and reaffirm its status as a global authority in footwear marketing and distribution.
For more information on Wolverine World Wide and Xtep International Holdings Limited, visit their respective websites: Wolverine World Wide and Xtep International Holdings Limited.
