国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

Adidas extends sports push

(Agencies) Updated: 2016-06-30 09:51

Adidas extends sports push

People walk through an Adidas store in Huaian, Jiangsu province, Nov 30, 2014. [Photo/CFP]

Adidas AG signed an agreement with billionaire Wang Jianlin's Dalian Wanda Group Co to help develop soccer and basketball in China as the German company seeks to capitalize on increasing interest in sports and fitness in the world's most populous nation.

The sneaker maker will also sponsor two of Wanda's Ironman Triathlon events in China this year, according to a joint statement.

It is joining forces with a company that this year signed a partnership agreement with soccer's governing body FIFA, and in 2015 bought a 20 percent stake in Spanish team Atletico Madrid.

Adidas is making an increasingly rare commitment to China by a consumer brand at a time when food companies, drinks makers and luxury labels are struggling. China has pledged to build a 5 trillion-yuan ($752 billion) sports industry by 2025.

"We see more of our mass consumer segment actually wanting to buy Adidas products," said Colin Currie, Adidas's managing director for China. "Chinese consumers want to trade up and buy international sports brands like adidas and they're willing to spend on it."

Adidas on Monday opened its first worldwide dedicated soccer store, in the southern city of Guangzhou, and said it is doubling to 20 million the number of Chinese children it is training in the sport through a government partnership.

Chinese consumers with rising disposable income are increasingly shifting from local sneaker brands to the cache of adidas and main rival Nike Inc.

That comes at a time when many consumer companies and apparel brands are retrenching amid slower consumer spending and a government clampdown on excessive gift-giving by public employees that has stung apparel and alcohol makers.

"Chinese people are becoming more health-conscious and participation rates in many sports are increasing," said Cedric Rossi, an analyst at Bryan Garnier & Co. In addition to performance shoes, Adidas' fashion-oriented Originals and Neo brands are resonating. "They are fully benefiting from this athleisure trend," Rossi said.

Performance and sports-inspired shoe sales in China are forecast to grow from a combined $12.9 billion this year to $18.5 billion in 2020, according to Euromonitor International.

Greater China, which includes the mainland, Hong Kong and Taiwan, contributed more than a quarter of adidas's earnings before overhead costs last year and it is the company's most profitable market, Currie said.

Hot Topics

Editor's Picks
...
曲麻莱县| 苏尼特左旗| 保靖县| 敖汉旗| 繁昌县| 白城市| 静海县| 阿拉尔市| 新源县| 柯坪县| 剑河县| 确山县| 富裕县| 中宁县| 辉县市| 固阳县| 玉溪市| 尤溪县| 富蕴县| 济宁市| 长白| 浦城县| 固安县| 宜昌市| 手游| 黄梅县| 唐海县| 周口市| 海淀区| 瑞安市| 昌都县| 正镶白旗| 米易县| 友谊县| 新蔡县| 永靖县| 宁德市| 渝中区| 永年县| 六安市| 海南省|