Adidas, A Shoe Giant, Will Open 500 Stores In China
November 18th hearing the world's top second sporting goods manufacturers Adidas (ADS) the company will increase its retail sales in the Chinese market by 9% to 6100 by the end of next year. Adidas expects the company in China market Sales growth will reach at least 10%.
Herbert, chief executive of Adidas, said in an interview today that the company plans to open 500 new retail outlets in the Chinese market next year.
According to Adidas's forecast, the company's sales in the Chinese market next year will exceed 1 billion euros (about 1 billion 360 million US dollars).
According to data released by EuromonitorInternational, the value of China's clothing and footwear products market in 2010 will reach RMB 334 billion yuan (US $50 billion), equivalent to nearly double the total market volume 5 years ago.
Adidas's competitors include Nike, the world's largest sporting goods manufacturer (NKE).
Lining
(2331.HK) and so on.
In the 10 months ended January, the average growth rate of Adidas's retail sales was 18.3%.
Haina said he has great confidence in the Chinese market. "In the next few years, we will achieve two percentage increase in China.
China is a large country with a large population. Many consumers want to have sports shoes.
NASDAQ plans to open about 2500 retail outlets in China's small city market in the next 5 years, expanding its coverage from the current 550 cities to 1400.
Du Bairui, managing director of Adidas Greater China (ChristopheBezu), held a press conference that individual consumers in small cities wanted to buy "international brand" products.
SophiaWu, an analyst at SinopacSecurities in Shanghai, Yongfeng, said Adidas is facing a challenge of managing prices in the Chinese market, because China's inflation rate is rising and raw material prices are also rising.
Adidas said today that Gao Jiali (ColinCurrie) will succeed Du Bairui as the managing director of the Greater China region, and will take effect from January 1st next year. Du Bairui will become the company's chief e-commerce officer next year.
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