diff --git a/apps/api/src/modules/exports/routes/admin-export-routes.js b/apps/api/src/modules/exports/routes/admin-export-routes.js
index 14ef428..7f0946f 100644
--- a/apps/api/src/modules/exports/routes/admin-export-routes.js
+++ b/apps/api/src/modules/exports/routes/admin-export-routes.js
@@ -37,4 +37,15 @@ export async function registerAdminExportRoutes(app, options) {
       .header('content-disposition', 'attachment; filename="inventory.csv"')
       .send(data);
   });
+
+  app.get('/exports/inventory.xls', async (request, reply) => {
+    const data = await adminExportService.inventoryExcel({
+      sellerId: request.admin.sellerId,
+    });
+
+    return reply
+      .type('application/vnd.ms-excel; charset=utf-8')
+      .header('content-disposition', 'attachment; filename="inventory.xls"')
+      .send(data);
+  });
 }
diff --git a/apps/api/src/modules/exports/services/admin-export-service.js b/apps/api/src/modules/exports/services/admin-export-service.js
index d1efbed..35ad5ea 100644
--- a/apps/api/src/modules/exports/services/admin-export-service.js
+++ b/apps/api/src/modules/exports/services/admin-export-service.js
@@ -19,9 +19,34 @@ export function createAdminExportService({ inventoryItemService }) {
         ...rows.map((row) => columns.map((column) => escapeCsvValue(row[column])).join(',')),
       ].join('\r\n');
     },
+
+    async inventoryExcel({ sellerId }) {
+      const rows = await inventoryRows(sellerId);
+      const columns = ['id', 'productId', 'conditionId', 'status', 'notes', 'createdAt', 'updatedAt'];
+      const header = columns.map((column) => excelCell(column, true)).join('');
+      const body = rows.map((row) => (
+        `<Row>${columns.map((column) => excelCell(row[column])).join('')}</Row>`
+      )).join('');
+
+      return `<?xml version="1.0"?>\n<?mso-application progid="Excel.Sheet"?>\n<Workbook xmlns="urn:schemas-microsoft-com:office:spreadsheet" xmlns:ss="urn:schemas-microsoft-com:office:spreadsheet"><Styles><Style ss:ID="Header"><Font ss:Bold="1" /></Style></Styles><Worksheet ss:Name="Inventory"><Table><Row>${header}</Row>${body}</Table></Worksheet></Workbook>`;
+    },
   };
 }
 
+function excelCell(value, header = false) {
+  const style = header ? ' ss:StyleID="Header"' : '';
+  return `<Cell${style}><Data ss:Type="String">${escapeXml(value)}</Data></Cell>`;
+}
+
+function escapeXml(value) {
+  return String(value ?? '')
+    .replaceAll('&', '&amp;')
+    .replaceAll('<', '&lt;')
+    .replaceAll('>', '&gt;')
+    .replaceAll('"', '&quot;')
+    .replaceAll("'", '&apos;');
+}
+
 function escapeCsvValue(value) {
   const text = value == null ? '' : String(value);
   return `"${text.replaceAll('"', '""')}"`;
diff --git a/apps/api/tests/application/admin-export-service.test.js b/apps/api/tests/application/admin-export-service.test.js
index ee3f462..292ec19 100644
--- a/apps/api/tests/application/admin-export-service.test.js
+++ b/apps/api/tests/application/admin-export-service.test.js
@@ -52,3 +52,18 @@ test('exports inventory as escaped CSV rows', async () => {
     '"item-1","product-1","condition-1","ACTIVE","Front, ""clean""\nback","",""',
   ].join('\r\n'));
 });
+
+test('exports inventory as an escaped Excel XML workbook', async () => {
+  const service = createAdminExportService({
+    inventoryItemService: {
+      async listBySellerId() {
+        return [{ id: 'item-1', productId: 'product-1', conditionId: 'condition-1', status: 'ACTIVE', notes: 'A <note>' }];
+      },
+    },
+  });
+
+  const workbook = await service.inventoryExcel({ sellerId: 'seller-1' });
+  assert.match(workbook, /Excel\.Sheet/);
+  assert.match(workbook, /A &lt;note&gt;/);
+  assert.match(workbook, /<Cell ss:StyleID="Header"><Data ss:Type="String">id<\/Data><\/Cell>/);
+});
diff --git a/apps/api/tests/http/admin-export-routes.test.js b/apps/api/tests/http/admin-export-routes.test.js
index 60170eb..5d935a5 100644
--- a/apps/api/tests/http/admin-export-routes.test.js
+++ b/apps/api/tests/http/admin-export-routes.test.js
@@ -80,3 +80,23 @@ test('downloads seller-scoped inventory CSV for an authenticated admin', async (
   assert.equal(response.headers['content-disposition'], 'attachment; filename="inventory.csv"');
   assert.equal(response.body, 'id,status\r\n"item-1","ACTIVE"');
 });
+
+test('downloads seller-scoped inventory Excel XML for an authenticated admin', async (testContext) => {
+  const app = buildApp({
+    authenticateAdmin: async () => ({ sellerId: 'seller-1' }),
+    adminExportService: {
+      async inventoryExcel({ sellerId }) {
+        assert.equal(sellerId, 'seller-1');
+        return '<?xml version="1.0"?><Workbook />';
+      },
+    },
+  });
+  testContext.after(() => app.close());
+
+  const response = await app.inject({ method: 'GET', url: '/api/v1/admin/exports/inventory.xls' });
+
+  assert.equal(response.statusCode, 200);
+  assert.equal(response.headers['content-type'], 'application/vnd.ms-excel; charset=utf-8');
+  assert.equal(response.headers['content-disposition'], 'attachment; filename="inventory.xls"');
+  assert.equal(response.body, '<?xml version="1.0"?><Workbook />');
+});
diff --git a/apps/web/src/pages/AdminHomePage.stories.js b/apps/web/src/pages/AdminHomePage.stories.js
index 5e3d9f8..3a9eb85 100644
--- a/apps/web/src/pages/AdminHomePage.stories.js
+++ b/apps/web/src/pages/AdminHomePage.stories.js
@@ -47,6 +47,17 @@ export const InventoryCsvExport = {
   },
 };
 
+export const InventoryExcelExport = {
+  parameters: {
+    docs: {
+      description: {
+        story:
+          "The admin workspace exposes a seller-scoped Excel-compatible inventory download.",
+      },
+    },
+  },
+};
+
 export const BulkTagSelection = {
   parameters: {
     docs: {
diff --git a/apps/web/src/pages/AdminHomePage.vue b/apps/web/src/pages/AdminHomePage.vue
index 1967de6..dba1b09 100644
--- a/apps/web/src/pages/AdminHomePage.vue
+++ b/apps/web/src/pages/AdminHomePage.vue
@@ -508,6 +508,13 @@ onMounted(load);
       >
         Download inventory CSV
       </a>
+      <a
+        class="button button--secondary"
+        href="/api/v1/admin/exports/inventory.xls"
+        download="inventory.xls"
+      >
+        Download inventory Excel
+      </a>
     </p>
     <p v-if="isLoading" class="state state--loading" role="status">
       Loading inventory...
diff --git a/docs/API.md b/docs/API.md
index 59723a4..8e7137a 100644
--- a/docs/API.md
+++ b/docs/API.md
@@ -101,6 +101,7 @@ POST   /api/v1/admin/bulk
 GET    /api/v1/admin/dashboard
 GET    /api/v1/admin/exports/inventory.json
 GET    /api/v1/admin/exports/inventory.csv
+GET    /api/v1/admin/exports/inventory.xls
 
 GET    /api/v1/admin/saved-views
 POST   /api/v1/admin/saved-views
diff --git a/docs/IMPLEMENTATION-STATUS.md b/docs/IMPLEMENTATION-STATUS.md
index 11bbc9b..4330973 100644
--- a/docs/IMPLEMENTATION-STATUS.md
+++ b/docs/IMPLEMENTATION-STATUS.md
@@ -151,6 +151,7 @@ Remaining roadmap areas are bulk status/tag/pricing actions, richer exports/sett
 - Bulk archive, asynchronous bulk pricing refresh, and Product-level bulk tag updates are implemented through the seller-scoped API boundary; bulk status changes remain.
 - Admin inventory JSON export is implemented at `GET /api/v1/admin/exports/inventory.json` and serializes seller-scoped admin DTOs as a downloadable attachment.
 - Admin inventory CSV export is implemented at `GET /api/v1/admin/exports/inventory.csv` with escaped spreadsheet-safe fields and seller-scoped admin DTOs.
+- Admin inventory Excel-compatible export is implemented at `GET /api/v1/admin/exports/inventory.xls` using the XML workbook format and seller-scoped admin DTOs.
 - PostgreSQL restore verification and image snapshot restore scripts are implemented and covered by shell tests as part of the deployment drill workflow.
 - `npm audit --omit=dev` currently reports zero production vulnerabilities. Re-run the audit after dependency changes and review development-dependency findings separately before production releases.