Despite first-quarter sales being impacted by lockdowns in Greater China, Adidas maintains its goals for 2025, says Kasper Rorsted, CEO. Rorsted says, sales may drop in double digits in 2022 as markets are unlikely to recover soon. However, it is expected to grow robustly in future. Russia-Ukraine war has not impacted consumers’ buying behavior, adds Rorstted.
A German multinational corporation, Adidas AG is headquartered in Herzogenaurach, Bavaria. It designs and manufactures shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike. It is the holding company for the Adidas Group, which consists of the Reebok sportswear company, 8.33 per cent of the German football club Bayern München, and Runtastic, an Austrian fitness technology company.
