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Adidas bullish on China
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The German sportswear and apparel group Adidas said today that its sales in China, including Hong Kong, Taiwan and Macau, added 16 percent on a currency-neutral basis in the fourth quarter of last year, thanks to China’s rising interest in sports and athletic wear.
The full-year sales jumped 18 percent to 2.5 billion euros (US$2.74 billion), and the company seeks to open more special segment stores to drive growth with the interest for sports activities in China continuing to gain momentum.
It aims to have 20 women specialty stores in China by the end of 2020 compared with four existing ones and its sports originals brand stores will also rise to as many as 650 from the existing 350 ones.
The global sales of Adidas in the fourth quarter added 16 percent to 16.9 billion euros, while the net profit up 12 percent. The company expected a global revenue increase between 10 and 12 percent on a currency-neutral basis in 2016 thanks to the positive effects from major sporting events including the UEFA EURO 2016 and the Olympic Games in Rio de Janeiro.
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