German sportswear maker Adidas will open 3,000 new stores in China by 2020, counting on rising affluence and health- awareness in the country to boost its global business.
The stores will bring Adidas' total to about 12,000 across 2,200 cities in China and the company will focus more on kids' sports apparel as China eases its one-child rule, Adidas China managing director Colin Currie said.
"More and more, we actually see optimism for growth because the numbers of Chinese consumers participating in sports are tremendous," Currie said. Adidas is in a race with global rival Nike and home-grown sports brands Anta Sports Products and Li Ning to grab demand from a mainland middle class amid growing awareness of health benefits from exercising.
China's sports industry will expand more than 19 percent annually to 3 trillion yuan (HK$3.57 trillion) by 2025, Credit Suisse Group estimated in September.
Greater China now accounts for about 15 percent of Adidas' global sales, up from 12 percent in 2014.