- CNTV English - CCTV News

Homepage > News > Biz >

Smaller cities key for Adidas

08-10-2011 14:29 BJT

SHANGHAI - Adidas Group China, a unit of Adidas AG, plans to expand aggressively into lower-tier cities as it seeks to compete with Chinese rivals.

"We plan to open more than 2,500 additional stores in the next few years in lower-tier cities, expanding city coverage to more than 1,400 cities," said Colin Currie, managing director of Adidas Group China.

Currie commented following the company's release of its first-half report, which showed that sales in China grew 38 percent to 552 million euros ($783 million), "a new record for this region", the company said.

Currie attributed the rise to a focus on cultivating sales channels, revitalizing the brand, focusing on productivity at the retail level, forming a new leadership team in China and introducing inventory management measures.

"Our strong performance in the first half marks the start of a new era for Adidas in China," said Currie. "We are seeing improvements in our businesses across the board, and it sets us up well for the future as we press ahead with our Route 2015 strategy."

The plan calls for five years of double-digit annual sales growth in China. The Adidas Group is a global sporting goods leader, offering a broad range of products around the core brands: adidas, Reebok, TaylorMade, Rockport and Reebok-CCM Hockey.

"This is an important market for the group and one where we've had great results in the past," Currie said. "We are confident that in the future with our strategy, in the lower-tier cities and also in the higher-tier cities, consumers will be looking for premier international quality sports brands."

Related stories

Editor:Yang Jie |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program