Adidas has high hopes for Russia - footwearbiz: Leading site for globa

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Adidas has high hopes for Russia

11/10/2011
German sporting goods company Adidas expects investment in its stores and rising consumer spending in Russia to propel the region into becoming one of its top three markets behind the US and China, it said on Monday.

 

The firm expects its sales in the Russia/CIS region to surpass EUR1 billion ($1.3 billion) by 2013 and to grow by a double-digit percentage annually until 2015, chief executive Herbert Hainer said at an investor day in Moscow.

 

Adidas did not give current sales for the region, which is currently its fourth-largest market in terms of sales after the United States, China and Japan.

 

The group says it is the market leader in Russia/CIS, where football, running and outdoor items are among its key products. It will also step up its store opening programme, increasing its network of own stores to 800 by the end of this year, and then to more than 1,200 by 2015.

 


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