CHINA: Adidas to add 2,500 new stores by 2015
Beijing is already home to the world's largest Adidas store
German sporting-goods maker Adidas AG has hinted at the scale of its ambitions in China, with plans including more than 2,500 new stores there by 2015, and a focus on smaller Chinese cities.
Details were unveiled one week after the group outlined its “Route 2015” business plan to grow sales by 45% to 50% to EUR17bn in 2015. The company said at the time it had identified Greater China as one of its key growth markets.
Adidas is now eyeing expansion into 1,400 Chinese cities by 2015, up from its current 500. Stores in lower-tier cities will be segmented according to lifestyle needs and disposable income, while new shops focusing on its upscale fashion lines are planned for more affluent shoppers in larger urban areas.
The moves come after the sportswear firm earlier this month said its Chinese sales rose 9% in the three months to 30 September. Profit climbed 25% to EUR266m, and group revenues were up 20% to EUR3.468bn.
- DENIM DAYS: Jeans innovation bursting at the seams
- How will TPP emerge from fast-track trade bill?
- Adidas pushing self-governance for suppliers
- 3D printing gears up for fashion industry change
- US fashion industry applauds trade bills package
- China textile and garment firms eyeing Morocco?
- Under Armour hailed "next global athletic company"
- Myanmar garment workers strike deal
- Orta and Garmon launch denim chemical screening
- Gap’s woes “not so easy to fix”