Adidas Greater China Operating Revenue Up 15%March 18, 2013 | By ChinaRetailNews.com Editor | Print | Email
Adidas published its annual results for 2012, stating that its revenue from the Greater China region was EUR1.562 billion, a year-on-year increase of 15% based on a fixed exchange rate.
Colin Currie, managing director of Adidas Greater China, told local media that the company's inventory in the Chinese market maintained a healthy level. They will continue to open new retail outlets in small- and medium-sized cities in China in 2013 to sustain stable performance.
Calculated by a fixed exchange rate, from the first quarter to the fourth quarter of 2012, Adidas Greater China's revenue growth was 26%, 13%, 11%, and 12%, respectively. Though the growth rate declined, Adidas' performance was good compared with its competitors like Nike, Anta and Lining. During the six months ended November 30, 2012, Nike's revenue in Greater China was USD1.149 billion, a year-on-year decrease of 4%. According to the previous financial predicts of Lining, the company expected losses for 2012. Anta said its operating revenue for 2012 was CNY7.622 billion, a year-on-year decrease of 14.4%.
Currie said outdoor supplies and children's supplies are the two promising markets in China. The company already opened more than 30 outdoor supplies stores, which are mainly located in northern China. In 2013, the company plans to increase the number of such stores to about 100.
For the children's supplies market, Adidas currently has about 500 stores in China, and it will add 100 new stores each year. By 2015, the company is expected to have 800 to 1,000 children's clothing stores.