GERMANY: Adidas extends deal with Intersport International
Sports goods company The Adidas Group has extended its strategic cooperation with sporting goods retailer Intersport International Corporation until 2010.
The extension of the deal, which was originally signed in 2003, is aimed at ensuring integrated business development going forward, strengthening the sales and distribution process of both groups.
Both parties have agreed to maintain confidentiality with respect to the financial terms of the announced agreement.
According to the terms of the deal, Adidas will offer a customised product range, for sports like football and running, in the 32 markets Intersport is present. Joint international marketing and event cooperation will continue to take place as well.
"We are looking forward to continuing our close cooperation with Intersport," said Roland Auschel, adidas head of region Europe. "Agreements such as this are an important strategic factor for our success."
The adidas Group is one of the global leaders in the sporting goods industry offering a broad range of products around the three core segments of Adidas, Reebok and TaylorMade-Adidas Golf.
Intersport boasts retail sales of about EUR7.7bn (US$9.97bn) has more than 4,800 affiliated sporting goods retail stores in 32 countries.
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