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Olympics may boost 'brand adidas' sales to €1 billion
07 Aug '08
2 min read
"The adidas Group has excelled in the first half of 2008, achieving double-digit top- and bottom-line growth. Our business in China was a big contributor to this growth," Herbert Hainer, CEO and Chairman of adidas AG said at a media round table on the day before the Opening Ceremony of the Beijing 2008 Olympic Games.
"As we go into the Olympic Games, we have achieved market leadership for brand adidas in China. As a Group, our tremendous sales performance in China in the first six months of this year underlines our position as the fastest-growing sporting goods company in this dynamic market."
Brand adidas' role as Official Sportswear Partner of the Beijing 2008 Olympic Games, the dynamic expansion of distribution for adidas and Reebok, as well as the positive development of TaylorMade-adidas Golf have been the primary growth drivers for the adidas Group in China.
In the first half of 2008, adidas Group sales in China increased over 60% on a currency-neutral basis. Based on this growth, China will become the second-largest revenue market for the adidas Group after the USA by the end of this year.
"We are well on track to reach our sales target of more than €1 billion for the adidas Group in China by 2010," Herbert Hainer added. "I fully expect our success story in China to continue because the visibility and excitement we will generate for our brands during the Olympic Games will create a halo effect sustaining the momentum of our Group in this market well into the future."
At the end of 2007, the adidas Group operated 4,800 stores in China and is planning to take that number to 5,900 stores in 2008. Brand adidas will operate approximately 5,000 stores (2007: 4,000) and brand Reebok about 900 stores (2007: 800) by the end of this year. By 2010 this number is expected to increase to a total of approximately 7,200 stores for the adidas Group, thereof 6,100 stores for adidas and 1,100 stores for Reebok.
"As we go into the Olympic Games, we have achieved market leadership for brand adidas in China. As a Group, our tremendous sales performance in China in the first six months of this year underlines our position as the fastest-growing sporting goods company in this dynamic market."
Brand adidas' role as Official Sportswear Partner of the Beijing 2008 Olympic Games, the dynamic expansion of distribution for adidas and Reebok, as well as the positive development of TaylorMade-adidas Golf have been the primary growth drivers for the adidas Group in China.
In the first half of 2008, adidas Group sales in China increased over 60% on a currency-neutral basis. Based on this growth, China will become the second-largest revenue market for the adidas Group after the USA by the end of this year.
"We are well on track to reach our sales target of more than €1 billion for the adidas Group in China by 2010," Herbert Hainer added. "I fully expect our success story in China to continue because the visibility and excitement we will generate for our brands during the Olympic Games will create a halo effect sustaining the momentum of our Group in this market well into the future."
At the end of 2007, the adidas Group operated 4,800 stores in China and is planning to take that number to 5,900 stores in 2008. Brand adidas will operate approximately 5,000 stores (2007: 4,000) and brand Reebok about 900 stores (2007: 800) by the end of this year. By 2010 this number is expected to increase to a total of approximately 7,200 stores for the adidas Group, thereof 6,100 stores for adidas and 1,100 stores for Reebok.
adidas AG
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