Adidas' CEO Herbert Hainer said he expects his company to overtake U.S. rival Nike in China by the end of this year, German magazine WirtschaftsWoche reports. At the same time, he warns that Chinese salaries have become "too high".
Herbert Hainer made these statements in an interview with the German
magazine WirtschaftsWoche. He also said that Adidas China is growing 50
per cent in terms of sales this year. For 2010, he believes Adidas will
achieve its revenue target of EUR1 bn in China.
But Hainer also pointed out that "salaries, which are set by the
government, have become too high" in China. As a result, the German
sportswear company has opened its first factory in India; manufacturing
sites are also planned in Laos, Cambodia and Vietnam. Adidas will also
"return to former Soviet Republics and Eastern European countries" for
production.
News & Interviews 
(0 vote)
