![]() Nike accounted for an 11 percent share.Īdidas plans to invest in Russia to make it the third most important market for the company after the U.S. The Adidas brand accounted for 17 percent of 2012 sportswear sales in Russia with 5 percent for Adidas-owned Reebok, according to the consumer strategy research company Euromonitor International. In Russia, though, it is chasing Adidas.Īdidas, which has its North American headquarters in Portland, is regarded as Russia’s leading sports brand. In Oregon and globally, Nike is the biggest sports footwear and apparel brand. “Revenue growth in Central Eastern Europe was driven by growth in all key categories, most notably Running, Football (Soccer), and Sportswear,” Nike’s 2013 annual report says. Given Nike’s stated desire to grow in Russia, then, the country accounts for the vast majority of the regional revenue. The region accounted for nearly $1.3 billion in sales in the most recent fiscal year, 7 percent higher than the year before. Russia is lumped into the Central and Eastern Europe geography in Nike’s annual report. While Nike’s annual report does not state revenue figures for specific countries, the narrative says fiscal year 2013 sales in Russia were 28 percent higher than the previous year. ![]() ![]() Nike regards Russia as one of its fastest-growing countries and has said it expects to soon increase sales there to more than $1 billion a year. Nike and Adidas have a significant presence in Russia and the companies have made statements in the past year signaling their intentions to grow bigger there and in Central and Eastern Europe. In the affected areas, “consumers are probably inclined to save and less inclined to invest in new athletic apparel,” said Lauren Beitelspacher, director of Portland State University’s athletic and outdoor program. said late Monday it will suspend talks with Russia that had been aimed at boosting trade and investment. Closer to home, it could have a significant impact on Nike, Adidas, Columbia Sportswear and other footwear and apparel brands that have big footprints in Oregon.Įconomic sanctions from the West are a very real potential response to Russia’s military move into the Crimean peninsula. The unfolding crisis in Ukraine is a big deal politically and militarily, and has financial markets nervous the world over.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |