阿迪达斯2025年营收1983亿元，延长CEO任期

Core Insights - Adidas reported record global revenue of €24.8 billion (approximately ¥198.3 billion) for the full year 2025, marking a 13% year-over-year increase in constant currency terms, excluding Yeezy impact [2] - The company achieved an operating profit of €2.06 billion (approximately ¥16.47 billion), a 54% increase compared to the previous year, with a gross margin improvement of 0.8 percentage points to 51.6% [2] - In Q4 2025, Adidas generated revenue of €6.1 billion, reflecting an 11% year-over-year growth, with a gross margin of 50.8%, up 1 percentage point from the previous year [2] Regional Performance - In the Greater China region, Adidas recorded full-year revenue of €3.62 billion (approximately ¥28.95 billion), a 13% year-over-year increase, with Q4 revenue reaching €850 million (approximately ¥6.8 billion), up 15% [3] - The company has successfully engaged in major sporting events and fashion shows in China, enhancing brand visibility and consumer engagement [3] - Adidas is expanding its high-quality store strategy in key urban areas and is actively developing emerging markets to improve consumer shopping experiences [3] Business Segments - Adidas demonstrated resilience in a challenging sportswear market, outperforming industry trends with double-digit growth in both performance and lifestyle segments [5] - Footwear revenue grew over 12%, with the ADIZERO 0 series running shoes seeing more than 30% growth, while apparel revenue increased by 15% and accessories by 6% [5] - The company continues to innovate in sports technology, contributing to athletes' successes in major competitions, including the World Marathon Majors [5] Fashion Integration - Adidas is blending sports and fashion, with the Shanghai Creative Center launching popular collections that resonate with Chinese consumers and attract international attention [6] - The company anticipates high single-digit growth in 2026, with continued market share expansion projected for 2027-2028, aiming for an operating profit margin exceeding 10% by 2028 [6]