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Adidas aims at double-digit growth in China by 2015
30 Aug '12
1 min read
German sportswear company, the Adidas Group, has targeted to achieve a double-digit growth in annual sales in China by 2015, according to the Route 2015 China Strategy released by the company.
The company plans to achieve the objective by expanding to lower tier cities in China.
The Group already has over 7,000 retail stores spread across 900 cities in China. It plans to open 500 new outlets in the country by December-end this year.
Along with its Route 2015 China Strategy, the company also opened its new China headquarters in Shanghai.
Adidas Group Chief Executive Officer Herbert Hainer said China would remain a major market for the company and the opening of the new China headquarters shows the company’s commitment towards the Chinese market.
Adidas’ sales in China increased by 19 percent year-on-year to € 732 million during the first half of the current year, compared to the 11 percent year-on-year rise in the company’s global revenue during the same period.
Fibre2fashion News Desk - China
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