Adidas looks to the rising Russian market
Adidas expects its sales in the Russia/CIS region, which includes former Soviet satellite states such as Ukraine and Kazakhstan, to surpass 1 billion euros by 2013, up from 786 million euros last year, chief executive Herbert Hainer said.
Adidas, the world’s second-largest sports apparel company after Nike, said the Russia region would overtake Japan, where sales have been hurt by the earthquake and tsunami this year, to become the group’s third-largest market in terms of sales.
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Hide AdThe group says it is market leader in Russia, where running, outdoor and soccer items are among its key products.
It will also step up its store opening programme, increasing its network of own stores to 800 by the end of this year and to more than 1,200 by 2015.
Mr Hainer also said he expected the group, famous for its three-stripe design, to continue to grow next year, in spite of concerns the European debt crisis could hit consumer spending.
“All signs are positive. I’m fairly optimistic for our company,” he said.
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Hide AdHe predicted record sales from its soccer range next year, helped along by the European championships being held in Poland and Ukraine. He declined to specify a target but said that Adidas wanted more than just “slight increases.”
Adidas achieved 1.5 billion euros in soccer goods sales in the last World Cup year of 2010 and expects a similar level this year, even without a major tournament taking place.
Soccer is a key sport for the group and its soccer goods achieved total sales of 11.99 billion euros in 2010.