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The international sports gear giant Adidas is experiencing better performance in China despite the still haunting decrease in sales.
Adidas 2010 Financial Report published on March 2 stated that the German sports gear manufacturer increased its sales in China to 1 billion Euros, an increase of 3% comparing to 2009. However, if the increase is not corrected by the exchange rate between RMB and Euro, Adidas’ sales in China have actually dropped by 2% in 2010.
However, Adidas saw increase in sales in the other five major markets.
The total sales amount of Adidas was 12 billion Euros in 2010, an increase of 15% a year. It beat Adidas executives’ forecast that predicted 10% increase in sales. In addition, the gross margin of Adidas reached 47.8% in 2010, an increase of 2.4% comparing to 2009. Adidas ascribed the higher gross margin to the less frequent discount campaigns, reduced inventory, increased proportion of retail business with higher profit margin, and lowered cost.
Ma Gang, an expert in China’s sports gear market, says that Adidas has already got out of the economic depression which tortured it 2009. The company had to close hundreds of stores in China that year and failed to offset the number of closed stores by opening new ones in 2010. As a result, Adidas was confronted with decreasing sales amounts.
Even though Adidas is the second largest company in Chinese sports gear market after Nike, Chinese local companies start to challenge Adidas. According to the data, Anta, a Chinese sports gear company based in Fujian, has a 20% increase in sales amount in 2010. The best Chinese sports gear company Lining also reported a 15% increase. Adidas still falls behind Chinese companies in sales rate.
Adidas experiences troubles in competing with Nike too. According to the data, Nike’s total income in China was 1.864 billion US dollars from December 1, 2009 to November 30, 2010, ranking number one in China. Lining and Adidas being respectively the second and the third follow Nike on the list.
In Ma Gang’s opinion, Adidas should attach importance to increasing the contribution of new products to the company’s revenue in order to flourish again in China. It is strongly recommended to get more involved in bodybuilding gears for males and females. Ma Gang says that the traditional sports gear market, which has already been developed, leaves quite a small space for further growth. However, the bodybuilding gears and the other emerging products have great profit potential. In addition, there are much less competitors in that area.
Adidas 2010 Financial Report published on March 2 stated that the German sports gear manufacturer increased its sales in China to 1 billion Euros, an increase of 3% comparing to 2009. However, if the increase is not corrected by the exchange rate between RMB and Euro, Adidas’ sales in China have actually dropped by 2% in 2010.
However, Adidas saw increase in sales in the other five major markets.
The total sales amount of Adidas was 12 billion Euros in 2010, an increase of 15% a year. It beat Adidas executives’ forecast that predicted 10% increase in sales. In addition, the gross margin of Adidas reached 47.8% in 2010, an increase of 2.4% comparing to 2009. Adidas ascribed the higher gross margin to the less frequent discount campaigns, reduced inventory, increased proportion of retail business with higher profit margin, and lowered cost.
Ma Gang, an expert in China’s sports gear market, says that Adidas has already got out of the economic depression which tortured it 2009. The company had to close hundreds of stores in China that year and failed to offset the number of closed stores by opening new ones in 2010. As a result, Adidas was confronted with decreasing sales amounts.
Even though Adidas is the second largest company in Chinese sports gear market after Nike, Chinese local companies start to challenge Adidas. According to the data, Anta, a Chinese sports gear company based in Fujian, has a 20% increase in sales amount in 2010. The best Chinese sports gear company Lining also reported a 15% increase. Adidas still falls behind Chinese companies in sales rate.
Adidas experiences troubles in competing with Nike too. According to the data, Nike’s total income in China was 1.864 billion US dollars from December 1, 2009 to November 30, 2010, ranking number one in China. Lining and Adidas being respectively the second and the third follow Nike on the list.
In Ma Gang’s opinion, Adidas should attach importance to increasing the contribution of new products to the company’s revenue in order to flourish again in China. It is strongly recommended to get more involved in bodybuilding gears for males and females. Ma Gang says that the traditional sports gear market, which has already been developed, leaves quite a small space for further growth. However, the bodybuilding gears and the other emerging products have great profit potential. In addition, there are much less competitors in that area.