GERMANY: Adidas Upbeat For 2005, Predicts Asian Growth
Sports goods giant adidas-Salomon has confirmed its profit and sales growth predictions for 2005, and has forecast doubled Asian sales by 2008.
Adidas expects net profit to rise 20 per cent this year, with sales growth in the mid to high single-digit percentage range.
The company said it expects double-digit net income growth in the medium term after it has completed its purchase of rival company Reebok.
Adidas also said it foresees large-scale sales increases on its Asian markets on growth in demand for athletic apparel in China and better Japanese revenue.
Chief executive Herbert Hainer said Asian sales are on line to top €2 billion by 2008. Revenue there increased 12 per cent to €1.25bn in 2004.
Hainer also said the company will become the sports market leader in Japan in terms of sales and market share this year.
Adidas's acquisition of Reebok will bring the company's market share nearer to that of rival Nike Inc, currently the world leader in sporting goods.
Help test our new apparel sourcing tool.
Although Ukraine has the potential to be the top East European clothing supplier to Western Europe, the industry's growth is hampered by a lack of foreign investment. But this could be about to change...
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
Sportswear giant Adidas-Salomon AG has lost out in a feud over whether athletes can wear garments featuring its three-stripe logo at the Olympic Games....
Sports goods giant Adidas-Salomon has decided to sell off its Salomon division to Finnish company Amer Sports for approximately €485 million....
Sportswear major Adidas says that India is on track to overtake Malaysia as its number one Southeast Asian market....
Sportswear company Reebok International Ltd has posted a higher quarterly profit, encouraged by the acquisition of The Hockey Company as well as a weak US dollar....
Sportswear giant Adidas has signed a $26.67 million deal with The University of Kansas to kit out all of its teams for the next eight years, signalling the end of a long-lasting agreement with Nike, w...
Major sports brand Reebok says it plans to open another 60 stores in the Indian market and push its revenue there up to INR3.75 billion....
- Rana Plaza four years on – Timeline of change
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Trump and Brexit get a dose of pragmatism
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- US Q1 in brief – Columbia Sportswear, Amazon
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar