Adidas looking to overtake Nike through Chinese market
AFP, August, 2006
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BEIJING (AFP) — Global sports apparel giant Adidas has said its China marketing strategy, including plans for the Beijing 2008 Olympic Games, could help the German company overtake Nike as industry leader.
Herbert Hainer, Adidas chairman, told journalists Thursday that official Beijing Games sponsorship, coupled with marketing deals with national teams and individual sports stars would help the company reach its target of 1.0 billion euros (1.27 billion dollars) in sales in China by 2010.
"I'm always confident that China will reach this target by 2010," Hainer said.
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Sales in China have nearly doubled every year for the last four years and with the Beijing Olympics only two years away revenues were slated to continue to grow with Adidas' merchandising partnership with games organizers, he said.
According to market surveys, more than 50 percent of Chinese consumers recognize the joint Adidas and Beijing Olympic logo, a positive ...
