Russia to become adidas stronghold
Russia and the CIS countries are set to become German sportswear firm adidas’ biggest market in Europe by 2010.
"We are well positioned with all our brands in Russia, said CEO and chairman, Herbert Hainer, at a press conference in Moscow ahead of the UEFA Champions League Final. “The adidas Group is growing so fast in this large country that it is already one of our most important markets in Europe with the potential to claim the top spot by 2010."
In the first quarter, adidas group sales in Europe increased 12% on a currency-neutral basis. Emerging markets were a driving force behind this strong top-line development, with group sales in Russia and the CIS countries growing more than 50%.
The company claims its market share in Russia is more than twice the size of its nearest competitor. At the end of 2007, the group operated more than 460 stores in Russia and the CIS and is planning to take that number to more than 750 stores in 2008.
Not only is adidas sponsoring Champions League finalist Chelsea FC, it is supplying the Official Match Ball for the tournament.
