Adidas sales in China down 15% in Q1 - footwearbiz: Leading site for g

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Adidas sales in China down 15% in Q1

21/05/2010
Sports brand adidas has announced sales of EUR 198 million in China for the first quarter of 2010, a year-on-year decrease of 15%.

The figures will be of concern to adidas because the company has placed great importance on the Chinese market for future growth. However, in the first three months of this year it achieved growth in almost all other markets except China.

Sales in wesern Europe were EUR 945 million, a year-on-year increase of 5%. In the North American market the sales figure was EUR 585 million, a year-on-year increase of 10%. Sales in Latin America were up by 24%, albeit from a smaller base.

Ma Gang, a Chinese sports market analyst, told local media that adidas had been over-optimistic about the post-Olympics Chinese market.

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