Adidas bucks the trend
German sportswear company Adidas says its sales in Greater China increased by six per cent in the first quarter.
Adidas has opened more than 6000 stores throughout China since it arrived in 1997.
However, revenues in other Asian markets declined four per cent, as double-digit increases in South Korea were more than offset by a sales declines in Japan.
Adidas’ net income rose six per cent to €308 million from €289 million.
“Given the strong reception to our latest product innovations and our full pipeline for the second half of 2013, I am confident our earnings momentum will accelerate in line with our expectations as we move through the year,” says CEO Herbert Hainer.