Xtep and The E-land Group signed a share purchase agreement to buy back the K-Swiss, Palladium and Supra brands.

On May 2, 2019, Xtep International Holdings Limited, a leading professional sportswear company in China, and E-Land World Company, Ltd; E-Land USA Holdings Inc signed a share repurchase agreement, Xtep spent $260 million in cash (about 1.75 billion yuan) to buy back all issued shares of K-Swiss, Palladium, Supra and other brands from E-Land Footwear USA Holdings Inc. This acquisition represents a great opportunity to develop a global leisure sports brand targeting the high-end market, of which K-Swiss is a brand specializing in traditional sports shoes, founded in California in 1996, specializes in tennis shoes, fashion, professional sports, meeting the needs of world-class professional athletes as well as the needs of consumers to follow trendy fashion. Palladium is a brand founded in 1947 in France, one of the most famous brands in the world with its Combat boots line. These brands are present in more than 80 countries worldwide.