Adidas to grow sales and profit quickly
Print Edition
ADIDAS plans to speed up production and allow shoppers to customize more shoes and clothes, aiming to accelerate sales and profit growth over the next five years.
The world’s second-biggest sportswear firm, which has been falling behind rival Nike, yesterday said its five-year strategy would focus on “speed, cities and open source,” with investment in Los Angeles, New York, London, Paris, Shanghai and Tokyo.
Adidas said it was testing automated production units that would allow it to shift manufacturing from Asia closer to consumers.
“We will bring production back to where the main markets are,” said Chief Executive Herbert Hainer, adding that the current six weeks it took to ship from Asia to Europe was too long. “Robots can be everywhere.”
Manufacturing closer to consumers should allow it to react more quickly to fast changing trends — like floral prints this spring — as it seeks to challenge market leader Nike as well as fashion retailers like H&M, which are already much more responsive and are moving into sportswear.
The German company said it would extend innovations pioneered by its NEO teen fashion brand which gets new products into store in 45 days, compared with a sports industry standard of 12-18 months.
It said it was working with German companies and the government on innovations in robotics and machines which can “knit” sneakers rather than having them sewn by hand, which could allow it to move output from hubs in China, Cambodia, Laos and Vietnam.
Adidas, which until a decade ago only sold its products wholesale, plans to open another 500-600 stores.
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