In his first official visit to China since taking over as Adidas CEO last September, Kasper Rorsted said he expects margins in China to “stabilize and slightly decline” but predicted sharp gains in the U.S.
“We expect a dramatic improvement in margins in the United States, but we expect over time also a slowdown in the margin development in China,” he said, according to Reuters.
Adidas still expects to generate double digit growth in China in 2017 and remains on track to open 2,000 stores this year and reach 12,000 by 2020. The CEO also cast doubt on plans to massively shifting production from China to Europe or the U.S.
