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Adidas aims to close gap with Nike

Adidas aims to close gap with Nike
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First Published: Mon, Nov 08 2010. 02 56 PM IST
Updated: Mon, Nov 08 2010. 02 56 PM IST
Frankfurt: German sporting goods company Adidas hopes to grow sales to €17 billion ($23.9 billion) by 2015 as it strives to overtake market leader Nike.
This would mean sales growth of 45-50% over the next four years, Adidas chief executive Herbert Hainer said in a presentation to analysts at the company’s headquarters in Herzogenaurach, Germany on Monday. “Our aspirations are to outperform total market growth, both GDP and sporting goods market. The latter we expect to be around 4 percent per annum. To outgrow our major competitor and have the bottom line grow faster than the top line,” Hainer said.
He said Adidas, currently the world No. 2 behind Nike, is targeting a compounded annual earnings growth rate of 15% and an operating margin of 11% by 2015 at the latest.
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First Published: Mon, Nov 08 2010. 02 56 PM IST
More Topics: Adidas | Nike | Sports | Sports Gear | Sporting Wear |