Friday 23 August 2019

Adidas plan to muscle into rival Nike's home territory

Manchester United striker Wayne Rooney
Manchester United striker Wayne Rooney

German sportswear company Adidas aims to muscle into Nike's home territory by increasing spending on marketing again after high-profile sponsorship deals and celebrity partnerships helped rekindle US sales.

Adidas said it would seek to build on its momentum by lifting promotional spending further in the run-up to Christmas. The firm had said it would spend 13-14pc of sales on marketing this year, compared with 10-11pc for most rivals.

The world's second-biggest sportswear firm has scored with "Yeezy" sneakers designed by Kanye West and football kits for Manchester United, pictured, and Italian champions Juventus launched this summer after it displaced Nike as new suppliers to both teams.

Its campaign for the 2016 European football championship, meanwhile, will start next week when it launches the new German team jersey.

Third-quarter sales of €4.76bn were up 18pc, or 13pc excluding the impact of currencies, beating an average analyst forecast for €4.5bn and accelerating from 5pc the previous quarter.

Adidas shares, up 49pc this year, jumped 5pc in early trading yesterday. (Reuters)

Irish Independent

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