Adidas'S Net Profit In The First Quarter Was 169 Million Euros.

Recently, Adidas announced its first quarter earnings. The first quarter net profit increased by 32% compared with the same period last year, and the amount increased to 169 million euros, which is higher than the 156 million euros expected by analysts.

The company's earnings showed a substantial rise in net profit in the first quarter, thanks to the growth in sales and profitability of the two major brands, Adidas and TaylorMade-adidasGolf.

Herbert Haina, chairman of the group, said in an interview recently that it regards Asia as the biggest growth market in the coming years, and that its turnover in Asia will increase from 2 billion euros to 3 billion 500 million euros by 2010.

It is learnt that by 2010, Adidas group will achieve 1 billion euro turnover in China.

To this end, the number of Adidas stores and Reebok stores in China will increase to 5000 and 2000 in the next few years.

By 2010, the output value of China's sports industry can reach 28 billion 120 million yuan, and is considered to be the most potential sporting goods consumer market next to the United States (Japan ranks third).

There is no doubt that if Adidas can not win the Chinese market quickly, it can only signal a new round of global market competition failure.

Heiner, President of Adidas, once said, "I hope Adidas will become the first brand in China in 2008, and sales in China will reach 1 billion euros before 2010.

Two regions in China and Japan will become the second largest market after North America.