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Store closures on the cards for adidas: CEO

The CEO of sportswear manufacturer adidas, Kasper Rorsted, has said the company will close down stores over the next few years as it shifts its focus towards online sales.

In an interview with the Financial Times, Mr Rorsted said the number of adidas stores will fall slightly over the next year. “Over time, we will have fewer stores, but they will be better,” he added. 

He described adidas’ website as “the most important store we have in the world”. 

In 2017, the company’s online sales rose 57% to almost €1.6 billion. It has set a target of more than doubling its e-commerce revenue to €4 billion by 2020. 

To this end, it is hiring 200 staff with a digital focus and has introduced a smartphone application that gives customers more options for personalisation of products. This has been launched in the US, the UK and Germany, with further roll-outs planned in France, Spain and Canada over the next few months. 

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