Adidas will open 3,000 new stores in China

Adidas Stores in China

Despite a massive downturn in the world’s second-longest economy, Adidas is planning to open 3,000 new stores in the country, bringing its total number of stores to 12,000 in the area.

Adidas is planning growth that will be “healthy and sustainable,” according to Colin Currie, managing director of Adidas Group Greater China.

“As sports participation continues to rise in China, we’re optimistic about the continued demand for Adidas’ sport performance and sport lifestyle products,” she added.

During its earnings call on Thursday Adidas said it hit an annual record $2.5 billion in sales in China for 2015, an 18% increase year-over-year.

Many companies in recent years have placed greater emphasis on China because of its rapidly growing middle class. In recent months many of those companies who prioritized China have taken a hit to their bottom line as the country’s stock markets continue to lose trillions of dollars in value.

China’s gross domestic product expanded by 6.9% in 2015, the weakest growth in more than a quarter of a century.

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Written by Tammy Johnson

Tammy Johnson

Tammy Johnson is the Retail Editor at BusinessPundit. She focuses on Fortune 500 retail company's and disruptive brick-and-mortar and e-commerce companies that are changing the retail landscape. She can be reached at TammyJohnson@BusinessPundit.com or (929) 265-0240