The CEO of Adidas pointed out, “The supply chain will become more localized. China will become China’s China.”

Bjørn Gulden commented: “Given the improved business in Q2 we continue to raise our expectations and are now guiding for a full-year revenue increase in the high single digits and an operating profit of around € 1.0 billion.”

HUGO BOSS Group will release its complete second-quarter results on August 1, 2024.

Bjørn Gulden said, “Compared to 12 months ago, we feel much more confident about the Chinese market,” adding that China’s growth potential is “far higher than” the growth achieved in the full year of 2023.

The Asia/Pacific region led the growth with a 13.6% (ca) increase in sales. 

“With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China…”

“If Adidas wants to win over more consumers, we need to introduce more mass-market (go down) products without losing high performance,”

Thanks to double-digit sales growth in Southeast Asia & the Pacific region and the Chinese market, the Asia-Pacific market saw a 21% increase in third-quarter sales at constant exchange rates.

In the Chinese market, deliveries for the first nine months increased by 1.7% year-on-year, reaching 603,900 units.

Join Luxe.CO as we cover exclusive content at the 104th Pitti Uomo Florence Men’s Fashion Exhibition.