China and North America drive strong third quarter for adidas
10/11/2017
There was a 13% increase in revenue from the adidas brand, which the company said was driven by double-digit increases in the running and outdoor categories as well as strong growth from adidas Originals and adidas neo products.
It explained that the decline in sales in the football and basketball categories reflected “significantly lower license revenues” due to the termination of two major sponsorship agreements, including that of Italian football side AC Milan. Revenue at the Reebok brand grew 1%.
On a currency-neutral basis, the combined sales of the adidas and Reebok brands grew in all regions except Russia/CIS, most notably in Greater China (+28%) and North America (+23%). There was also growth in Western Europe (+7%) and Latin America (+8%). Revenue from the Russia/CIS region was down 17%.
Image shows actress and musician Selena Gomez modelling a collection she designed for adidas neo (credit: adidas).
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