Based on sales of RMB 135 million to RMB 0.15 billion this year, local sports brand Xtep plans to increase sales by 70% in 2008. Recently, Ding Shuibo, president of Xtep (China) Co., Ltd. disclosed the news. He also stated that the total budget of Xtep's marketing for the Olympic Games is about 200 million yuan.
The Fujian-based Xtep Venture was founded in 1987 and currently has more than 4,000 franchised stores/specialized stores in the country. It is also located in Beijing, Shanghai, Tianjin, Guangzhou, Chongqing, Chengdu, Hefei, Changsha, Wuhan, Fuzhou and Xiamen, etc. The city’s key shopping district has a flagship store. According to Ding Shuibo, Xtep's national sales amounted to approximately RMB 135 million to RMB 0.15 billion this year. The current Spring-Summer trade fair in 2008 has ended, and the company expects to increase sales by 70% next year.
Ding Shuibo also said that in response to the marketing theme of the Beijing Olympics next year, Xtep will invest 200 million yuan in the budget. In addition to spending thousands of dollars, the fund’s funding included the appointment of celebrities such as Nicholas Tse, Pan Yubai, Cai Yilin and TWINS as well as Olympic filming, as well as the establishment of an Olympic fund to reward the 2008 Fujian Olympic champion; and sponsored Olympic delegations from Belarus and other countries. The award-winning equipment; the opening of the "Xebu Olympic Train"; and the introduction of Olympic concept stores in more than 4,000 stores, the transformation of existing stores, site selection and moving to prime locations and so on.
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