Herbert Hainer, chief executive of Adidas Group, told Bloomerg that he expects increases in revenues and profitability in the 2011 fiscal year, probably led this time by healthy performances in China and Russia. In Russia, where the brand enjoys a 65-70 percent market share, Adidas is forecast to grow by at least 10 percent in local currency in both 2010 and 2011 fiscal years, as a higher valuation for the ruble will benefit euro-based sales. As for China, where the company has struggled in the aftermath of the Beijing Olympics, Adidas sales have rebounded on leaner inventory levels, paving the way for retail price increases.
As far as products go, Adidas is poised to introduce a new athletic shoe technology in the second half of the 2011 fiscal year. Hainer says it has received “extremely good feedback” from the retail community. The company also plans to take advantage of the market trends for ultralight footwear and apparel.
This year, meanwhile, Adidas will reportedly sell more than 4 million pairs of its F50 lightweight football boot, twice as many football kits as during the 2006 World Cup and 10 million pairs of EasyTone trainers from Reebok.
