Adidas targets US market share of 15-20 pct - paper

From Reuters - January 13, 2018

FRANKFURT (Reuters) - German sportswear maker Adidas (ADSGn.DE) wants to increase its U.S. market share to around 15-20 percent from levels that are now significantly lower, its chief financial officer said.

In every market we have a share of at least 15 to 20 percent, CFO Hans Ohlmeyer told the Boersen Zeitung in an interview published on Saturday.

Our medium-term goal in the United States is also to reach that level. Currently we are significantly lower, he added. Market researchers estimate Adidas share of the U.S. market at about 10 percent, implying a goal to at least double it.

Adidas has been taking market share in North America and China from its main competitor Nike (NKE.N), and hopes the launch of new team kits before this years soccer World Cup will revive its relatively weak sales in Europe.

Growth in the U.S. market has, however, been too fast for our infrastructure, Ohlmeyer said, adding that Adidas would build out its logistics capacity there this year to clear supply bottlenecks.


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