Adidas expects its sales in the Russia/CIS region, which includes former
Soviet satellite states such as Ukraine and Kazakhstan, to surpass 1
billion euros ($1.3 billion) by 2013 and to grow by a double-digit
percentage annually until 2015, Chief Executive Herbert Hainer said at
an investor day in Moscow.
According to Reuters, that would lead the region to become its third biggest market behind the United States and China. The growth will be helped by the expanding its network of own stores
to 800 by the end of this year, and then to more than 1,200 by 2015. Improving consumer spending in the area is also expected to drive the gains.
Adidas did not provide current sales for the region, which is currently its fourth-largest market in terms of sales after the United States, China and Japan.
The group says it is the market leader in Russia/CIS, where soccer, running and outdoor items are among its key products.