Adidas China reaches record sales of EUR2bn
Adidas Great China recorded sales of EUR2bn last year
Sporting goods giant Adidas Group has revealed that its Greater China subsidiary achieved sales of EUR2bn (US$2.18bn) in 2015 – the company's highest ever annual sales in the region.
The group's second largest market, Greater China also saw sales grow 18.4% in the first nine months of last year, compared to 2014.
"This solid financial result is a reflection of our success in Greater China," says Colin Currie, managing director for Adidas Greater China.
Over the last few years, Adidas has strengthened its position across all key sports categories in the region, expanded its retail presence to more than 8,500 stores in both higher and lower tier cities, and launched new segmented retail stores such as women's, sportswear collective and basketball.
The group's new strategy themed 'Creating the New' aims to propel Adidas to become the 'best sports brand' in Greater China by 2020. The company's new five-year game plan will serve as a blueprint to seize further growth opportunities.
Under this new framework, Adidas says it will continue to focus on five main drivers – football, running, women's, kids and Originals – as part of a brand strategy to "strengthen key categories and lead mind share".
A new framework is built around three major strategic choices: cities, speed and open source. By 'Creating the New', Adidas says the plan will chart the path of the company's continued growth as it seeks to meet the demands of China's burgeoning middle class who are placing a higher emphasis on quality of life experiences, and the needs of a nation with an ignited interest in sports.
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