GERMANY-HEADQUARTERED sporting goods giant Adidas said it hopes to add 2,000 additional stores on top of 10,000 existing ones in China in the next three years, executive board member and chief executive officer Kasper Rorsted told a media briefing in Shanghai today.
The company will extend its retail network to more lower-tiered cities, which may contribute to half of its business growth in China.
“Digital and e-commerce will also be a huge driver and we want to offer an integrated shopping experience regardless from which channel consumers are buying,” Rorsted said. “It gives us opportunities to understand consumers’ purchasing habits and their preferences.”
Globally the company expected sales through the Adidas and Reebok official websites to reach 4 billion euros (US$4.29 billion) by 2020 compared to 1 billion euros in 2016, without revealing specific sales figures in China.
When asked about whether it’s moving some of the manufacturing capacity outside of China, he commented that manufacturing volume in China will continue to grow and at the same time will be working for a more diversified manufacturing base.
Last year, sales of Adidas in China jumped 28 percent, making it the fastest growing market. Sports performance make up about 70 percent of its overall sales and it would focus on meeting consumers’ demand for stylish sportswear.
Nike has an 18.6 percent market share in 2016 in terms of sportswear, closely followed by Adidas’ 15.1 percent.