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Adidas plans to steer shoe market in China by 2008
05 Aug '06
2 min read
With 2008 Beijing Olympics in consideration, Adidas AG plans to overtake Nike Inc. in China with a host of measures that includes its acquiring of Reebok International Ltd.
In line with its strategy of getting sponsorship deals and opening stores at a brisk pace, Adidas plans to open 1.5 outlets a day on an average for next two years to double its outlets from 2500 by 2010.
Herbert Hainer, the Chief Executive Officer of Adidas expressed confidence that in the next two years they would be the market leader in China. He was in China to meet the organizers of the Olympics as the company has promised to spend US $80 million for the event.
Acquiring Reebok at $3.8 billion is a part of its plan to expand its market not only in USA but also in China as it lags behind Nike in global as well as Chinese sales.
Hainer informed that company was on path to reach sales target of $1.28 billion in China by 2010 excluding the sales from Reebok.
Nike has earned $600 million in China in 2005 and Adidas does not provide the figures for a particular country, but a sports marketing firm estimates it to be at $385 million.
Adidas also plans to expand the Reebok outlets in China from current number of 50 to 200-250 stores a year and targets to reach 1,500 to 2,000 stores in the country.
In line with its strategy of getting sponsorship deals and opening stores at a brisk pace, Adidas plans to open 1.5 outlets a day on an average for next two years to double its outlets from 2500 by 2010.
Herbert Hainer, the Chief Executive Officer of Adidas expressed confidence that in the next two years they would be the market leader in China. He was in China to meet the organizers of the Olympics as the company has promised to spend US $80 million for the event.
Acquiring Reebok at $3.8 billion is a part of its plan to expand its market not only in USA but also in China as it lags behind Nike in global as well as Chinese sales.
Hainer informed that company was on path to reach sales target of $1.28 billion in China by 2010 excluding the sales from Reebok.
Nike has earned $600 million in China in 2005 and Adidas does not provide the figures for a particular country, but a sports marketing firm estimates it to be at $385 million.
Adidas also plans to expand the Reebok outlets in China from current number of 50 to 200-250 stores a year and targets to reach 1,500 to 2,000 stores in the country.
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