Russia'S Shoe Makers Adidas'S Third Largest Market In The World
Adidas, a German sporting goods company, is looking to invest in its own stores and increase consumer spending in Russia to boost the region's development, making it one of the third largest global markets in the US and China.
On the day that President Herbert Hainer invested in Moscow, Adidas estimated that its sales in Russia would exceed 1 billion euros (771 million 200 thousand pounds) by 2013, and that the Russian region included former Soviet governments such as Ukraine and Kazakhstan.
Sales in the region were 786 million euros last year, and Hainer said he expects sales to rise by at least 10% by 2015.
"Russia is already the largest market in Europe. We have a very good profit here, "Hainer told reporters, adding that the GDP of the country is expected to increase by an average of 4.5% in 2015.
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