German sporting goods company Adidas expects investment in its own stores and rising consumer spending in Russia to propel the region to become one of its top three global markets behind the United States and China, it said Monday.
Adidas expects its sales in the
Russia/CIS region to grow at least 10 percent annually to 2015, surpassing 1 billion euros ($1.3 billion) by 2013, up from 786 million euros last year, chief executive Herbert Hainer said at an investor day in Moscow.
"Russia is already our biggest market in Europe. We have good margins here," Hainer said. He predicted record sales from its football range next year, helped along by the European championships being held in Poland and Ukraine.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
