Adidas sprints away with new stores

Global leading sportswear producer adidas AG is expected to open 2,000 new stores by 2020 in China, the company said.

CEO Kasper Rorsted said on a visit to China that its business in the China market grew nearly 30 percent last year, making it its second-largest market in the world after Western Europe.

Rorsted said that last year his company - which owns other brands including Reebok, TaylorMade and Reebok-CCM Hockey - achieved sales of 3 billion euros ($3.26 billion) in China thanks to updated products, new stores and the vibrant development of e-commerce.