BERLIN (Reuters) - Adidas laid out plans on Wednesday to defend its position as the world's top soccer brand from fierce competition from rival Nike by launching a new range of footwear and setting up more grassroots programs.
Ahead of an investor presentation, Adidas said in a statement it aims to outgrow the market and grow its soccer business at a mid-single-digit rate on average per year on a currency-neutral basis from 2015 to 2020.
It set a target to double currency-neutral sales from its running business by 2020 by connecting with local running communities and focusing on the North American market, where it hopes for significant market share gains.