adidas Sales Rose Upwards of 20 Percent in 2017
Due in part to China, the brand’s most profitable market.
adidas following its successful first quarter last year came out of 2017 on top with its sales rising between 15 and 20 percent, equivalent to $24 billion USD. The sportswear brand grew via North America, China (its most profitable market), and e-commerce, according to chief executive Kasper Rorsted.
As a result of the news, adidas shares went up 1.6 percent the morning of, the biggest increase on the blue-chip stock index. Analysts are now forecasting an increase in sales of up to 11 percent to 21.3 billion EUR for 2017. adidas sees huge potential in China, and welcome a Chinese investor becoming an anchor within the company. In business-related news, Kylie Jenner’s tweet didn’t affect Snapchat’s stock prices as previously reported.
