At the Adidas China media briefing on March 4, the company announced its impressive 2015 earnings, showing that 2015 net profit rose 29% from 634 million Euros, sweeping away the haze left by massive losses in the fourth quarter of the previous year.
Adidas’s 2015 total sales in China amounted to 2.468 billion Euros (about 17.653 billion Yuan), marking a 17% increase over the previous year.
Back in 2010, Adidas ranked fourth in market share behind Nike and local sports brands Li-Ning and ANTA. To correct this, Adidas developed a five-year long-term plan with a sales target of 2 billion Euros in 2015, a target that Adidas China has surpassed.
A key part of Adidas China’s recent success has been the expansion into more remote cities and towns across China. According to Adidas’ Managing Director of China, Colin Currie, in 2010, there were approximately 5000 Adidas stores in over 500 cities in China. Today, Adidas has around 9000 stores in over 1000 Chinese cities. By 2020, Adidas expects that number to hit 12,000.
Source: thepaper.cn
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Keywords: Adidas market share Nike China Adidas China
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