Global revenues at sportswear group Adidas have jumped 16% for the full year 2017, reaching €21.22bn (£18.7bn) for the period.
Net income for the group also increased by 32% to €1.430bn (£1.26bn) as strong digital sales and growth in North America and China fuelled growth.
Overall, the Adidas brand recorded an 18% increase in sales, driven by a “double-digit” sales growth in the brand’s running category, as well as strong sales of Adidas Originals and Adidas Neo. Reebok sales grew 4% for the year, again fuelled by the running and Originals categories.
Ecommerce performed particularly strongly for the group, and revenues grew 57%.
Sales in China increased by 29% and sales in North America increased by 27%. However, sales in the US declined as a result of store closures.
Adidas CEO Kasper Rorsted commented that the brand was seeking further growth in the coming year: “2017 was a strong year – financially and operationally. We made great progress toward achieving our mission to be the best sports company in the world. Our strategic growth areas – North America, Greater China and digital commerce – were the main drivers of our performance.
“2018 is a key milestone on the road to achieving our long-term targets for 2020. We expect quality growth, with overproportionate bottom-line improvements. This will enable an even stronger increase in profitability by 2020 and allows us to upgrade our long-term target yet again.”