Adidas makes ‘successful’ start and backtracks on Reebok
06/05/2015
Group revenues grew 17% to € 4.1 billion driven by a double-digit increase at adidas as well as high-single-digit growth at Reebok.
Revenues at TaylorMade-adidas Golf decreased 9% currency-neutral, mainly due to sales declines in the metalwoods and irons categories, which more than offset a double-digit increase in golf apparel
The combined sales of the adidas and Reebok brands grew in all market segments except Russia/CIS. Revenues in Western Europe increased 11%, 7% in North America while revenues in Greater China were up 21% on a currency-neutral basis.
Group CEO Herbert Hainer said: “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.”
He told a recent investor event he was no longer interested in selling Reebok: “We have been hammered for six or seven years for Reebok, and now we are turning it around. We would be stupid to sell it now.”
Share this story:
