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November 17, 2009

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Xtep opens flagship outlet in Hong Kong

CHINESE mainland-based Xtep International Holdings Limited, a growing sportswear brand, inaugurated its first flagship store for Disney Sport products in Hong Kong yesterday.

Ding Shui Po, company chairman and CEO, said "certainly the next step is to explore the overseas market" given that the brand already has over 5,800 stores covering 31 provincial areas on the mainland.

Established in 1999, Xtep is one of a growing number of mainland brands using Hong Kong as a platform to launch themselves in the overseas market in recent years, said Simon Galpin, director-general of investment promotion at Invest Hong Kong.

"Hong Kong is an irreplaceable financial center and commercial hub, which is the key reason for us to choose to list in Hong Kong, " Ding said, referring to the listing of the company's shares in Hong Kong last year.

Ding said he planned to use Hong Kong as a platform to further expand his business to emerging markets, including the Middle East and the Southeast Asian countries.

"We have set up an experienced global marketing team in Hong Kong," he said.

About 5,400 of Xtep's mainland stores sell products under its own Xtep brand which targets growing young consumers. The other more than 400 shops market products under the licensed brand, Disney Sport, since 2006.


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