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Adidas eyes double-digit China growth
By Ding Yining |
August 29, 2012, Wednesday
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Print Edition
Print Edition
THE Adidas Group, a leading global sporting goods company, said it is aiming for double-digit growth in annual sales in China through 2015, as the company extends its footprint in lower tier cities.
The company hopes to open 500 new stores in China by the end of 2012. These will be in addition to the more than 7,000 retail outlets already serving customers in 900 cities, according to the group's Route 2015 China Strategy released yesterday.
The growth targets will be mainly driven by expanding and solidifying its distribution footprint in a wider area in the country.
The sportswear group yesterday unveiled its new China headquarters on downtown Huaihai Road in Shanghai. "China has been a key driver of the group's success and the new China headquarters demonstrates our commitment to the market," said Adidas Group Chief Executive Officer Herbert Hainer.
In the first half, sales in China rose 19 percent from a year ago to 732 million euros (US$1.25 billion), against an 11 percent global revenue increase, excluding currency factors.
The company hopes to open 500 new stores in China by the end of 2012. These will be in addition to the more than 7,000 retail outlets already serving customers in 900 cities, according to the group's Route 2015 China Strategy released yesterday.
The growth targets will be mainly driven by expanding and solidifying its distribution footprint in a wider area in the country.
The sportswear group yesterday unveiled its new China headquarters on downtown Huaihai Road in Shanghai. "China has been a key driver of the group's success and the new China headquarters demonstrates our commitment to the market," said Adidas Group Chief Executive Officer Herbert Hainer.
In the first half, sales in China rose 19 percent from a year ago to 732 million euros (US$1.25 billion), against an 11 percent global revenue increase, excluding currency factors.
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