- News>
- Companies & Commodities
Adidas on lookout for acquisitions in US to catch up Nike
Frankfurt, July 14: Adidas-Salomon, the German maker of sportswear and equipment, is on the lookout for acquisitions in the united states in order to catch up with its arch rival Nike, chairman Herbert Hainer said in a magazine interview published today.
Frankfurt, July 14: Adidas-Salomon, the German maker of sportswear and equipment, is on the lookout for acquisitions in the united states in order to catch up with its arch rival Nike, chairman Herbert Hainer said in a magazine interview published today.
"Nike's turnover is around 3.4 billion dollars bigger than ours. In most of the world we are at the same level. The gap is America, and we have to close it there too," Hainer told the magazine in its latest issue.
"Maybe Adidas can reduce the gap under its own steam but it cannot catch up. So we are also looking at what companies we could acquire," he added
Currently however, the company was under no pressure and no acquisition was in the pipeline, Hainer insisted.
Bureau Report