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Adidas targets £14.7bn sales in 2015

Adidas has laid down plans to bolster sales by as much as 50% to €17bn (£14.7bn) by 2015.

The group has launched a stretegy, dubbed Route 2015, which is aimed at growing Adidas’ sales by between 45% and 50% in 2015 - well ahead of expectations for the sportswear market. The group said it targeted an average operating margin of 11% over the period.

As part of the strategic business plan, the company said it would position its Adidas and Reebok brands more clearly, with Adidas targeted at competitive sports and Reebok marketed as a fitness and training brand.

Herbert Hainer, chief executive officer at Adidas, said: “We want to achieve qualitative and sustainable growth by building desirable, leading brands in consumers’ and customers’ perception.

“Over the next few years, we will invest in our brands in order to reach our ambitious, but realistic targets. I am confident that our strategic business plan will lead us into a new era of success for the Adidas group.”

He added: “We are now well prepared to enter our next growth phase based on our mission to be the leading sporting goods company in the world.”

The company has identified the UK, North America, China and Latin America as key growth markets.

Adidas claimed an “explosive comeback” after strong third quarter results - but warned that labour costs and currency volatility would be a challenge in 2011.

Adidas last week posted a 22% rise in operating profit to €411m (£361m) in the three months to September 30. Group sales increased 20% to €3.47bn (£3bn) over the period, up from €2.89bn (£2.5bn) in the same period last year.

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