Adidas Greater China First Quarter Sales Increased 36%

Adidas released its latest quarterly results yesterday, excluding exchange rate factors. The first quarter of this year saw a 36% increase in sales in the Greater China region, reaching 284 million euros.

The sales of existing stores in Adidas Greater China increased to two figures year-on-year, while sales of Adidas's own stores increased by 21% over the same period last year.

As of February 2011, Adidas has 5800 stores in China, with 109 stores.

Adidas said that by 2015, Adidas will also open 2500 new stores, covering the number of Chinese cities that will increase from 550 to 1400. Adidas will open 500 new stores in China this year, 12 of which are private stores.

Adidas told reporters yesterday that the first quarter of this year, new products

Previously, some local executives believe that the domestic sporting goods market has bid farewell to the era of rapid growth of about 30%. Under the influence of cost factors such as manpower and rent, the growth rate of the whole industry will drop to 10%~20%.

For the above judgment, Adidas responded that human costs and rents rose and other factors had a certain impact on Adidas. Adidas's gross profit fell 0.1 percentage points to 48.5% in the first quarter of this year, but Adidas declined.

In addition, Adidas recently announced the completion of the Greater China sales zoning reorganization, the withdrawal of the original central area, the new West headquarters with Chengdu as its headquarters, Hunan and Hubei, which belonged to the central region, into the western region.

Adidas said that the move is to improve the efficiency of sales channels.

Adidas also disclosed that the cooperation between the company and Baosheng international has progressed smoothly. At present, Baosheng international has established about 40 shops in the first tier to three tier cities in the country, and will further extend to the cities below three lines in the future, and expand Adidas's market share.