Online sales boost adidas revenue for 2017
16/03/2018
This was driven by a 16.3% increase in sales of adidas brand products. The Reebok brand saw its revenue increase 4.1% year on year.
The company achieved double-digit revenue growth in nearly all geographical regions, including Western Europe (+11.2%), North America (+25.3%) and Greater China (25.9%). The only disappointing performance camd from the Russia/CIS region, which experienced a 2.8% drop in revenue.
Revenue from all distribution channels grew, including a 57% increase in revenue from ecommerce operations.
Presenting the results, adidas CEO, Kasper Rorsted, said: “2017 was a strong year – financially and operationally. We made great progress toward achieving our mission to be the best sports company in the world.”
He added: “2018 is a key milestone on the road to achieving our long-term targets for 2020. We expect quality growth, with overproportionate bottom-line improvements. This will enable an even stronger increase in profitability by 2020 and allows us to upgrade our long-term target yet again.”
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