Core Insights - The relationship between Adidas and the Chinese market can be summarized as "mutual pursuit," highlighted by CEO Bjoern Gulden's recent visit to China, marking his fourth trip and first as a formal member of the Shanghai Municipal Advisory Council [1][3] - Adidas continues to emphasize its strategic importance in China, showcasing its commitment through various initiatives, including a fashion show that blends sports and street culture [3][9] - The company reported record revenue of €6.63 billion for Q3 2025, driven by double-digit growth across all markets and categories, with a notable increase in operating profit and gross margin [9][11] Group 1: Strategic Engagement - Gulden's participation in high-level meetings and events in China signals Adidas's intent to deepen its engagement with local stakeholders [1][3] - The "POWER OF THREE" series event in Shanghai reflects the brand's strategy to resonate with local consumers through creative collaborations [3][9] Group 2: Financial Performance - Adidas achieved a historic quarterly revenue of €6.63 billion, marking a 12% growth driven by strong performance across various product categories [9][11] - The operating profit reached €736 million, with a gross margin increase of 0.5 percentage points to 51.8% [9][11] Group 3: Localization Strategy - Adidas's localization strategy focuses on understanding and resonating with Chinese consumers, emphasizing the importance of local insights in product development [12][15] - The company has established a creative center in Shanghai to foster local design and collaboration with local artists and athletes [20][29] Group 4: Supply Chain and Innovation - Adidas is enhancing its flexible supply chain capabilities to address inventory challenges, implementing an "end-to-end" model to streamline operations [31][32] - The company has invested in a new distribution center in Suzhou, capable of processing over one million items daily, with over 95% of products sold in China being locally manufactured [31][32] Group 5: Cultural Resonance - Adidas aims to create emotional connections with consumers through its branding and community engagement initiatives, such as sponsoring local sports events and youth programs [41][44] - The brand's new slogan "YOU GOT THIS" reflects its commitment to inclusivity and encouraging a love for sports among young people [39][41] Group 6: Future Outlook - Adidas is focused on maintaining its growth trajectory in China, with plans for continued investment in local design and supply chain capabilities [11][50] - The company recognizes the importance of cultural identity and aims to position "Chinese design" as a global trendsetter [29][50]