Russia and the Commonwealth of Independent States (CIS) are set to become adidas group’s biggest market in Europe by 2010. “We are well positioned with all our brands in Russia. 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,” said Herbert Hainer, CEO and Chairman of adidas AG.
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 by over 50%.
The adidas group claims clear market leadership in Russia, with a claimed market share more than twice the size of its nearest competitor. A focus on key accounts and the expansion of mono-brand stores have been the growth driver for both adidas and Reebok. At the end of 2007, adidas group operated over 460 stores in Russia and the CIS and is planning to take that number to more than 750 stores in 2008. The adidas Group also claims market leadership in the Ukraine and entered the market in Kazakhstan in 2007.
“Russia is a very dynamic country and is known for world-class athletes as well as enthusiastic fans. By expanding our own-retail network in Russia and the CIS countries, we are giving consumers access to a unique brand experience and the equipment to achieve their personal best,” commented Martin Shankland, Managing Director of the adidas group in Russia & the CIS.
