At a press event in Shanghai, Adidas Group Chief Executive Herbet Hainer further detailed Adidas' plans to become the number two brand in China. Currently, Adidas is third brand behind leader Nike and Li Ning.
The plan calls for the opening of more than 2,500 stores in smaller Chinese cities by 2015. NEO, its fashion-forward brand targeted at the youth market, will also be rolled out aggressively in the lower tier cities. Adidas will also price its entry level products at 15% lower than usual in those cities.
