Adidas (ADDYY) aims to boost its sales to 17 billion euros ($24 billion) by 2015 as part of a strategy to overtake Nike (NKE) as the world's largest sporting goods company.

"Our aspirations are to outperform total market growth ... to outgrow our major competitor and have the bottom line grow faster than the top line," CEO Herbert Hainer said, according to Reuters.

Adidas is targeting 8% sales growth this year, from sales of 10.4 billion euros in 2009. Nike posted sales of $19 billion in the year to May 2010.

Adidas hopes to post compound annual earnings growth of 15% and an operating margin of 11% by 2015.

The German company said the key growth markets include North America, China and Latin America.

"The new strategy plan is very promising and is encouraging investors after strong results," a trader at Frankfurt's Alpha brokerage told Reuters.


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MSmailbox

Tiger Woods is a racist, otherwise I like him.

November 08 2010 at 4:53 PM Report abuse rate up rate down Reply
zamalektsi

Nike promotes its products through raipist like Kobe total idiots like Lebron and classless arrogant frauds like Tiger. And you are wondering about Nike's demise?

November 08 2010 at 3:35 PM Report abuse +1 rate up rate down Reply
revlongboneee

nike is slave labor. in the 90s they paid michael jordan 30 mil, tiger woods 50 mil, lebron james 90 mil, and early 2000s a 14 year old kid (soccer player) over 100 mil for advertising all the while paying indonesians 1.10 a day (poverty at that time considered 1.90 a day) in wages. 2007 i believe 10,000 vietnamese workers went on strike. 14-16 hour days and they barely have enough to feed a baby all the while nike ceo donated 65 mil to oregons football program in 2000 or 2001 then 2 years ago donated another 50 mil. i wouldnt be caught dead in a pair of nikes

November 08 2010 at 1:43 PM Report abuse +2 rate up rate down Reply
1 reply to revlongboneee's comment
dfriberg

You got that right..I've been referring to Phil Knight as the grandfather of outsourcing for years. Can't believe anyone is stupid enough to pay $100.00 or more bucks for a .50 cent pair of shoes. Go Ducks

November 08 2010 at 3:26 PM Report abuse +3 rate up rate down Reply
wlh1923

Comparing Adidas and Nike is like comparing. Titelist and Topflite golf balls. (Adidas is Titelist and Nike is Topflite. Nike may produce more stuff, but like Topflite its vast mass produced stuff are "range Balls". Nike has superior looking attractive shoes but they are world renowned as being shoddy, poorly made junk. Been like that since its inception in the early 70's. Earlier years they simply pirated Tiger (now Asics)designs with foreign made look alikes and knockoffs. Stuff was inferior. Eventually they came up with their own R & D and started producing some interesting and cutting edge stuff (later 70's). Problem still now as then the quality of the foreign produced shoes. Utter trash. We have a fairly large family with 4 children who were all jocks, all multisport players. One hard and fast rule in our household was no Nike shoes - simply because there was always a problem. Split seams, separating uppers from sole plates, popped stitching, unglued uppers. The process of saving sales slips and attempted returns wasn't worth it. Even less expensive "off brands" held up/hold up better than the most expensive Nike shoes. Youngest child now a college junior playing college varsity soccer. A week an a half into this current fall season he made an unexpected afternoon trip from college one afternoon. "Is everything okay I asked". "Yeah, just need to exchange a pair of shoes." Yep, you guessed it. He purchased a pair of the latest Nike soccer cleats at the end of the summer and after a week and a half the cleats were breaking out of the sockets (cleats weren't loose, rather the cleats and the sockets were breaking off). Shook my head and smiled. "Yeah dad, I know, "I know".

November 08 2010 at 1:30 PM Report abuse +1 rate up rate down Reply
DAVIDO

It shouldn't be difficult. Addidas makes a better shoe than Nike anyway. A good aggressive marketing campaign would put it over the top in worldwide sales.

November 08 2010 at 11:01 AM Report abuse +2 rate up rate down Reply
ANGELOCOOL

HONESTLY SPEAKING I HAVE PURCHASED MANY MANY SNEAKERS IN MY PAST FEW YEARS , AND THE REASON WHY IS BECAUSE THEY ARE MADE TO FALL APART , ESPECAILLY NIKE , AND THE REST OF THOSE HYPED UP SNEAKERS , NOT ONLY DO U HAVE PAY BIG MONEY , NOW THEY WANT YOU TO BUY ALSO A INNER SOUL ,29 BUCKS , GET REAL , SKETCHERS IS PRETTY GOOD

November 08 2010 at 10:24 AM Report abuse +1 rate up rate down Reply