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200 Adidas Shops will be closed in Russia

Such measures are taken due to hard economic situation.

06.Mar.15 10:14 AM
By Abigail Richards


200 Adidas Shops will be closed in Russia
Popular German sports product producer has officially announced about the fact that 200 Adidas shops which are located on the territory of Russia will be closed. The officialy statement was made by the Head Director of Adidas Group Herbert Hainer.

It should be noted that the main reason for taking such measures is the fact that tough economic situation in the country has a negative influence on operation of Adidas shops. Despite the fact that the ruble revenue has increased over the last few months, the overall consumers’ activity is lower in comparison with other periods. That is why German producer is planning to close 300shops. 200 of them are located on the territory of Russian federation.
At the same time it is also known that managers of the company decided to reduce the number of shops which were supposed to be opened in Russia. The number of new shops has become twice lower. Such decision was made in August 2014. But it seems like those measures were not enough for Adidas.

Total loss for Adidas is € 140 million while the revenue was €3.61 billion during the 4th quarter of the previous year. It means the total revenue has become 1.6 times lower and decreased down to €490 million.

Adidas AG is a world’s famous German producer of sportswear and shoes. About 800 Adidas shops are located on the territory of Russian Federation.

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