Adidas China – aiming to cash in on fast-growing enthusiasm for sports across Greater China – plans to open 3000 new stores by 2020.
The plan, which would see its network grow from 9000 to 12,000, was revealed by the company after it announced sales in Greater China rose 18 per cent last year to more than 2 billion euros.
China, Hong Kong and Taiwan together are now the most profitable sales region for Adidas globally, Adidas group MD for Greater China, Colin Currie, said on Friday.
“Our performance after the Chinese new year gave us optimism that Hong Kong is still a great market for sporting goods. Like in China, we see more and more consumers, not only Hong Kong residents but also tourists running to buy our brand for sports participation, but also for the sports casual business,” he said in an interview published in the South China Morning Post newspaper.
Adidas is about to open a new flagship store in Central, previously home to fashion giant Coach, and a second in Causeway Bay.
But while flagships will help build brand awareness and status, in Mainland China the company is focusing on opening stores in smaller cities to build critical mass in sales and branding.
Currie says Adidas will focus on building sales in the children and youth categories as more and more young people start playing sport, especially football.
“In the next few years we would very much focus on the kids stores… With the relaxation of the one-child policy, more and more money and focus are being put on kids. We really believe this is going to be a tremendous growth segment for us,” he said.