阿迪达斯三季度营收同比增长12% 运动进入专业分化时代

Core Insights - Adidas reported its best-ever quarterly performance with global revenue reaching €6.6 billion, a 12% year-on-year increase (currency neutral), and operating profit rising 23% to €736 million [1][3] - The company is executing a strategy focused on "returning to the essence of sports, strengthening local cultural connections, and improving retail efficiency," which is seen as a response to the evolving competitive landscape [1][4] - The Greater China region has been a significant growth driver, achieving double-digit growth for four consecutive quarters, with Q3 revenue of €947 million, a 10% increase [2][3] Financial Performance - Adidas achieved double-digit growth across all markets, categories, and channels in Q3, with footwear revenue increasing by 11% and apparel revenue growing by 16% [1][2] - The running product line, particularly the ADIZERO 0 series, saw revenue growth exceeding 30% [1][2] - The company raised its full-year operating profit forecast from €1.7-1.8 billion to approximately €2 billion [3][7] Market Trends - The global sports footwear and apparel market is projected to exceed $450 billion by 2025, with significant growth in running, outdoor, and lifestyle segments [1][6] - Consumer behavior is shifting towards products that combine functionality with everyday wearability, emphasizing the importance of multi-scenario adaptability and cost-effectiveness [6][7] - The industry is entering a phase of "professional segmentation and efficiency competition," where brands must enhance repurchase rates and connect with consumers across various touchpoints [4][5] Strategic Focus - Adidas is focusing on localizing its offerings through design and cultural integration, moving away from merely importing global products to creating locally relevant products [2][3] - The company is leveraging digital transformation in its channels, including direct-to-consumer (DTC) strategies and instant retail, to enhance brand intimacy and consumer engagement [5][6][7] - The emphasis on innovation and research in specialized markets is crucial for maintaining competitive advantage in the evolving landscape of sports brands [5][6]