Adidas Will Open 500 New Stores In China Next Year
Beijing time November 17th morning news. Global Adidas (ADS), the maker of the second sports goods, said today that the company will increase its retail sales in the Chinese market by 9% to 6100 by the end of next year. Adidas expects its sales growth in the Chinese market to reach at least 10%.
Herbert Hainer, Adidas's chief executive, 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 the data released by European information consulting company, the value of Chinese clothing (10.74,0.00,0.00%) and footwear products market will reach RMB 334 billion yuan (US $50 billion) in 2010, equivalent to nearly double the total market volume 5 years ago.
Adidas's competitors include the world's largest sporting goods manufacturer Nike (NKE) and Lining (2331.HK).
In the 10 months ended January, the average growth rate of Adidas's retail sales was 18.3%.
Haina said he had "great confidence" in the Chinese market.
Future
In a few years,
We
It will achieve an increase of two percentage points 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 (Christophe Bezu), held a press conference that individual consumers in small cities wanted to buy "international brand" products.
Sophia Wu, an analyst at Sinopac Securities in Yongfeng, said Adidas is facing the challenge of managing prices in the Chinese market, because China's inflation rate is rising and raw material prices are also rising. Securities
Adidas said today that Gao Jiali (Colin Currie) will succeed Du Bairui as managing director of the Greater China region and will take effect from January 1st next year.
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