The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HERZOGENAURACH, Germany — Sales at German sportswear firm Adidas rose between 15 and 20 percent to more than 20 billion euros ($24 billion) in 2017, helped by growth in China, North America and e-commerce, chief executive Kasper Rorsted said on Wednesday.
An Adidas spokeswoman said there was no change to the company's forecast for sales to rise at a currency-adjusted 17-19 percent in 2017. It reports annual results on March 14.
Adidas shares were up 1.6 percent at 10:15 am, the biggest increase on the German blue-chip index.
Analysts are forecasting a headline sales increase of 11 percent to 21.3 billion euros for 2017, according to Thomson Reuters Eikon.
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Speaking at a conference on Asia in Düsseldorf, Rorsted said Adidas saw huge potential in China, which is its most profitable market.
Asked if he could imagine a Chinese investor becoming an anchor investor in the company, Rorsted replied that he could imagine everything.
By Matthias Inverardi and Emma Thomasson; editors: Arno Schuetze and Mark Potter.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.