Asia-Pacific
Sales in Asia-Pacific grew 10% on a currency-neutral basis. In euro terms, sales in Asia-Pacific were up 12% to € 8.032 billion from € 7.141 billion in 2018. adidas brand revenues increased 11% on a currency-neutral basis. This development was due to double-digit sales growth in both Inspired and Performance. Reebok brand sales in Asia-Pacific decreased 15% on a currency-neutral basis, due to declines in both Sport and Classics.
Net sales in Asia-Pacific
+ 10%
C.N.
€ 8.032 bn
|
|
2019 |
|
2018 |
|
Change |
|
Change |
|---|---|---|---|---|---|---|---|---|
Net sales |
|
8,032 |
|
7,141 |
|
12% |
|
10% |
adidas brand |
|
7,736 |
|
6,805 |
|
14% |
|
11% |
Reebok brand |
|
296 |
|
336 |
|
(12%) |
|
(15%) |
Gross margin |
|
57.0% |
|
56.2% |
|
0.8pp |
|
– |
Segmental operating profit |
|
2,703 |
|
2,339 |
|
16% |
|
– |
Segmental operating margin |
|
33.7% |
|
32.7% |
|
0.9pp |
|
– |
Gross margin in Asia-Pacific increased 0.8 percentage points to 57.0% (2018: 56.2%), reflecting lower sourcing costs, positive currency effects and an improved product and channel mix, partly offset by an unfavorable pricing mix. Operating expenses were up 12% to € 1.891 billion versus € 1.688 billion in 2018, mainly driven by higher operating overhead costs. Operating expenses as a percentage of sales were down 0.1 percentage points to 23.5% (2018: 23.6%). As a result of the gross margin increase as well as lower operating expenses as a percentage of sales, operating margin was up 0.9 percentage points to 33.7% versus 32.7% in 2018. Operating profit in Asia-Pacific increased 16% to € 2.703 billion from € 2.339 billion in 2018.
Sport Inspired
‘Sport Inspired’ stands for fashion inspired by sport – also known as ‘sports lifestyle’. It draws inspiration from adidas’ rich archives and legacy. Sport Inspired stands for Originals, Y-3, Statement and Yeezy.
Sport Performance
‘Sport Performance’ stands for the categories training, running, football, basketball and heartbeat sports such as outdoor, swim, tennis and US sports.