adidas looks to be operating 12,000 stores in China by 2020

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adidas looks to be operating 12,000 stores in China by 2020

March 3, 2016

Retail / Sport /

Global sportswear and retail giant adidas is planning to open 3,000 stores in China over the next five years - expanding to 12,000 stores in China from its current 9,000.

adidas' China Head Colin Currie told media that the German company will be aiming to meet demand created by China's ongoing economic growth taking advantage of new Government policies to foster football and the population’s growing interest in sport.

Explaining that the company will zero in on China's smallest cities, expecting continued urbanization even in the face of economic challenges, Currie stated “we are cautiously optimistic, but we're far more on the optimistic side.”

Last year, adidas’ sales in the China region, including Hong Kong & Taiwan, increased 18% excluding foreign-exchange effects.

In the fourth quarter, adidas sales in China were up 16% excluding such effects.

The sportswear market in China increased to 165 billion yuan (US$25.30 billion) last year, up 11% from a year earlier, according to market research firm Euromonitor.

Currie said that he believes that China's football agenda will boost the participation rate and benefit the company.

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