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Adidas makes inroads into Chinese inland
By Ding Yining |
August 28, 2012, Tuesday
|
Online Edition
Online Edition
ADIDAS Group, a leading sporting goods company in the world, said it is aiming for double-digit growth in annual sales in China through 2015 as the company expands into smaller inland cities.
Adidas hopes to open 500 new stores in China by the end of this year in addition to its existing 7,000-plus stores in about 900 cities, according to its Route 2015 China Strategy released today.
The German company today unveiled its new China headquarters on Huaihai Road in downtown Shanghai.
Foreign brands have been increasing their presence in China when sales in American and European markets are shrinking in comparison with emerging markets.
In the first half of this year, sales in China rose 19 percent from a year ago to 732 million euro (US$1.25 billion) against the global average of 11 percent, excluding currency factors.
In the past two years, Adidas spread its footprints to 350 more Chinese cities. The 900 cities with Adidas presence were divided into five regions last year to stay closer to consumers.
Adidas hopes to open 500 new stores in China by the end of this year in addition to its existing 7,000-plus stores in about 900 cities, according to its Route 2015 China Strategy released today.
The German company today unveiled its new China headquarters on Huaihai Road in downtown Shanghai.
Foreign brands have been increasing their presence in China when sales in American and European markets are shrinking in comparison with emerging markets.
In the first half of this year, sales in China rose 19 percent from a year ago to 732 million euro (US$1.25 billion) against the global average of 11 percent, excluding currency factors.
In the past two years, Adidas spread its footprints to 350 more Chinese cities. The 900 cities with Adidas presence were divided into five regions last year to stay closer to consumers.
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