Adidas fighting fit on boost from Reebok and Rita Ora

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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.

Source Article from http://www.standard.co.uk/business/adidas-fighting-fit-on-boost-from-reebok-and-rita-a3178166.html

February 12, 2016 |
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