Adidas CEO admits mistakes

A longer-term failure of China as a growth market could call Adidas’ sales and profit targets for the years up to 2025 into question. „If the original assumptions change permanently, we would also have to adjust our targets,“ CEO Kasper Rorsted told Handelsblatt in an interview published on Tuesday. He said, however, that he did not believe the giant empire would turn away from Western brands for good. „Then all companies in the world would have a problem. But I don’t think that’s realistic. China will come back, and then the uplifting leverage effect will be significant, too.“ He explained, the Chinese follow basketball games from the US and soccer from Europe on TV. „That’s where they keep coming across Adidas.“