Adidas strives to break Nike monopoly in local markets
08
May '08
May '08
Adidas, one of the leading sports apparel manufacturing company, has expressed plans to achieve a yearly sale of 1 billion European dollars by 2010 in China.
According to industrial sources, this target was set to match up the cut-throat competition put forward by Nike in the Chinese market.
In 2007, the sale of Adidas in Chinese market reached US $385 whereas Nike, as early as 2005 projected a sale of $600 million in the same region.
Experts believe that improper channelization was the key reason behind these lagging sales and Adidas has therefore showed determination in opening around 5000 franchise of its outlets in China by 2010.
Presently, the company has only 2,500 shops in the country and to achieve a target as colossal as this, would require a huge investment and publicity.
Adidas has therefore invested heavily in 2008 Beijing Olympic Games with amount estimated to be around $50 million.
According to industrial sources, this target was set to match up the cut-throat competition put forward by Nike in the Chinese market.
In 2007, the sale of Adidas in Chinese market reached US $385 whereas Nike, as early as 2005 projected a sale of $600 million in the same region.
Experts believe that improper channelization was the key reason behind these lagging sales and Adidas has therefore showed determination in opening around 5000 franchise of its outlets in China by 2010.
Presently, the company has only 2,500 shops in the country and to achieve a target as colossal as this, would require a huge investment and publicity.
Adidas has therefore invested heavily in 2008 Beijing Olympic Games with amount estimated to be around $50 million.
Fibre2fashion News Desk - China
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