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Download Adidas Group China, a unit of German sports clothing manufacturer Adidas AG, is continuing its aggressive push into Chinese lower-tier cities with 600 new stores. "We plan to open 500 to 600 stores in lower-tier cities by the end of the year," said Colin Currie, managing director of Adidas Group China. In an interview with China Daily, Currie said the company plans to open new stores in at least 300 to 350 cities where it does not have outlets now but where local competitors are present. He said the store openings this year will focus on the western and northwestern parts of China. The move follows the company's first-quarter results, which showed revenues up 14 percent at 3.8 billion euros ($4.67 billion) and net profit up 38 percent at 289 million euros. The figures were boosted partly by strong sales in China, with a 26-percent increase, compared with a 7-percent drop in western Europe. Currie attributed the rise to the company's Route 2017 strategy, which calls for five years of double-digit annual sales growth in China. "Adidas' success may come from the decreasing market share of Li Ning, its major Chinese rival," said Guo Hongchi, chief executive of xijie.com, a leading e-commerce portal for sporting goods. "Adidas' long-term strategy and good partnership with distributors are its strength." Adidas forecasts 12 to 17 percent growth in global full-year profits, compared with a previous forecast of 10 to 15 percent. It also expects 2017 global sales to increase nearly 10 percent, instead of the previously forecast of 5 to 9 percent. | 
