German sportswear company adidas aims to double its e-commerce sales by 2025 and make its products more sustainable as part of a five-year plan to bring profitability closer to that of rival Nike.
Adidas targets online sales of up to 9 billion euros ($10.7 billion) a year by 2025 with an operating profit margin of 12% to 14%, up from 11.3% achieved in 2019 before the coronavirus crisis. hit sales and profitability.
The company said it has reopened 95% of its stores after coronavirus shutdowns, while forecasting sales in China and Latin America to increase by as much as 30%.
While the sporting goods industry has suffered from store closures during the COVID-19 pandemic, it has seen increased sales online as more people have taken up running, hiking and yoga during lockdowns.
Adidas will invest more than €1 billion in its digital transformation by 2025, including making its supply chain more agile to better deliver online orders.
Chief Executive Kasper Rorsted said e-commerce would account for more than 40% of industry sales by 2025, with online business growing three times faster than other businesses.
