Adidas is betting big on a local strategy to win over China using domestic production, product development and marketing to strengthen its position in the highly competitive market.
The company reported stronger growth in China, supported by its focus on adapting its business to local consumers. The sportswear maker&#**;s Greater China revenue grew ** per cent in the third quarter of ****, while Europe declined * per cent.
Adidas reported its highest revenue ever in a quarter with € *.** billion (~$*.** billion) and its highest operating profit, increased ** per cent to € *.* billion (~$*.* billion), according to the company’s Press Release. Adidas shares surged *.** per cent on Thursday to close at $**.**, gaining $*.** during the trading session.
