Adidas fighting fit on boost from Reebok and Rita OraComments Off on Adidas fighting fit on boost from Reebok and Rita Ora
Sportswear giant adidas is in “great shape”, boss Herbert Hainer said today, as he forecast double-digit growth for 2016.
It toasted strong momentum for its Reebok brand and the adidas line, which includes a trendy collection with the singer Rita Ora that sells £55 fashionable sweatpants.
The increased guidance for revenue and operating profit follows a strong 2015.
Double-digit sales growth was recorded in western Europe, greater China and Latin America after pumping extra funds into marketing in the final quarter.
It helped the German-based trainers specialist, which employs 55,000 people across 160 countries, to increase full-year revenue 16% to nearly €17 billion (£13 billion).
Chief executive Hainer said: “We are in great shape… a clear focus on driving brand desirability has already started to pay off.”
However, it does expect an increase in sourcing and labour costs this year.
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