Xtep will divest its wholly owned subsidiary KP Global Investment, which owns the K-Swiss and Palladium brands, to the controlling shareholder Ding family at a transaction valued at $151 million, as it aims to focus on its core Xtep, Saucony and Merrell brands. The group purchased the brands in 2019 for $260 million, but it’s operated them at a loss of over $200 million since then as the economy tanked due to the effects from the global pandemic and numerous challenges coupled with geopolitical ... Log in to view full article.