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)
