In their efforts to dent Nike‘s commanding sales, German sportswear company adidas is slightly making its mark in North America, which is noted as the world’s biggest sportswear market.
According to financial data released today, adidas has achieved a growth of 7% for consumers, equivalent to $661 million in capital for the first quarter of this year, or precisely from the beginning of January to the end of March. Compared to last year, the company’s sales were on a 6% decline, while in retrospect, revenues for Nike increased 15 percent with a value of $8.0 billion.
In addition, Reebok, which merged with adidas back in 2005 has also reported a growth of 9 percent. CEO Herbert Hainer, stated in a news release;
“We got off to a successful start to the year with our Adidas and Reebok brands enjoying great momentum,” “With our innovative performance products, fashion-driven styles and highly engaging marketing campaigns, we have excited our consumers around the world.”
Also, with the leadership of Mark King, the head of adidas America, the company has ramped up its marketing and design efforts, as well as appointing more professional athletes as advocates and moved several key executives to Portland – where the company’s North American headquarters are located.
Furthermore, sales reached double-digit percentages in Western Europe, China, the Middle East, Africa and some Asian markets, with expectations of growing larger within later this year.
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We can’t help but wonder if Kanye West’s influence was a factor — of course it was.
The post Is Nike on a Decline? Sales for Adidas Products in North America Have Grown appeared first on KicksOnFire.com.
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