Adidas through 2017 will close 160 branded retail outlets. This was stated by Executive Director of Harm, Allmaier, reports Echo of Moscow.
Adidas is expected that the Russian market will continue to decline after four years of sanctions and dependence on oil prices.
German brand, closes stores in Russia for the third year in a row. While Russia remains the only Adidas for the region, where its revenues are consistently declining.
The company calls itself “a victim of its own success” – being the market leader in sports goods, she was sensitive to the decline in demand and deterioration of the economic situation.
At the same time the share of Russia accounts for only 3% of the total sales of Adidas, so the unfavorable situation in one region do not strongly affect the global performance of the company.
By the summer of 2017 in Russia worked 840 retail outlets of Adidas.
In 2015, the company closed about 200 stores in Russia by opening 100 new outlets. Another 80 stores were closed in 2016.
Earlier it was reported that by the end of the first quarter of 2017, Adidas in terms of sales ahead of its main rival Nike in North America and China.