Xtep Reports Record Profits in FY2024, Fueled by Its Running Strategy

On March 18, Xtep Group announced a record-breaking financial performance for FY2024, driven by its commitment to the running category, expansion of the DTC model, and the strong performance of flagship brands Xtep and Saucony.

The company’s total revenue grew 6.5% YoY to ¥13.577 billion, while net profit surged 20.2% YoY to ¥1.238 billion—marking a new profitability milestone.

Chairman Ding Shuibo credited Xtep’s success to its unwavering focus on running: “Even in an uncertain economic climate, we achieved steady growth in 2024. Since divesting K·SWISS and Palladium last November, we’ve realigned our strategy to focus on running, optimizing operations and resource allocation. Our three key brands—Xtep, Saucony, and Merrell—each bring unique strengths, further cementing our leadership in the running market.”

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