Sportswear giant Adidas expects 10 per cent growth this year after noting better profit margins last year.
In the year 2015, Adidas noted 16 per cent surge in sales at US $ 1.2 million. The sportswear retailer also reported double-digit growth in Latin America, Greater China, Middle East, Asia, Western Europe and Africa. “We are in great shape. Our strategic business plan ‘creating the new’ with a clear focus on driving brand desirability has already started to pay off,” said Herbert Hainer, outgoing CEO of Adidas.
Thanks to good performance in the month of November last year, the company is anticipating that the Operating Profit will be in double-digit, along with stable Operating Margin against 2015. Besides, Adidas said investments in brand building increased by more than 20 per cent last year, helping sales go up in North America and Western Europe, while maintain 10 per cent growth rate in other markets, like China. As the brand is continuously enhancing its product offerings, both Nike and Under Armour are likely to face tough competition in the sportswear arena.
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“In combination with the positive feedback from customers on our 2016 product line-up, this gives us every confidence that we will again grow the top and bottom line at a double-digit rate,” Hainer adds.
Headquartered in Herzogenaurach, Germany and founded in 1924, Adidas multinational corporation that designs and manufactures sports shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe and the second biggest in the world, after Nike.
