Core Insights - Adidas has achieved record global quarterly revenue and a "ten consecutive increases" in performance in the Greater China region by 2025, driven by a deep emotional connection with Chinese consumers and a strategy focused on "In China, For China" [1][4]. Group 1: Business Strategy - The establishment of the Shanghai Creative Center (CCS) 20 years ago has become a cornerstone for localizing Adidas' strategy and a platform for promoting Chinese culture globally [3]. - CCS has successfully launched products that blend traditional Chinese elements with modern sports technology, receiving positive market feedback [3]. - Adidas is focusing on nurturing young talent through the A.C.E. (ADIDAS CREATOR EXPERIENCE) program, which has attracted thousands of young creators from top design schools [3][4]. Group 2: Cultural Integration - Adidas is engaging with the new generation of Chinese consumers through a dual narrative of "sports + culture," exemplified by its support for athletes and culturally inspired product lines [3][4]. - The company aims to tell Chinese stories through its products, promoting cultural recognition and appreciation of Eastern aesthetics to a global audience [5]. Group 3: Youth Development - Adidas is committed to fostering youth sports through initiatives like the establishment of university sports communities and youth football programs, recognizing the importance of starting from a young age for building a strong sports nation [4][5]. - The brand's long-term mission is to contribute to the high-quality development of China's fitness industry by integrating traditional and emerging sports [5].

Core Insights - Adidas has established a university sports community in collaboration with 12 prestigious Chinese universities to empower the younger generation through sports [1][3] - The Chinese market is recognized as a crucial growth engine for Adidas, with expectations for the sports consumption market to reach 2.8 trillion yuan by 2025 [2] - The company aims to deepen its connection with the "Z generation" by focusing on personalized and emotional engagement in its marketing strategies [2][5] Market Characteristics - The Chinese sports consumption market is projected to grow significantly, with the sports equipment market expected to reach 602.1 billion yuan [2] - The shift in consumer demand from functional satisfaction to personalization and emotional resonance presents opportunities for innovation in sports brands [2] - China's advanced supply chain and digital economy facilitate rapid product development and precise market reach [2] Strategic Initiatives - The establishment of the Adidas University Sports Community aims to support campus sports and resonate with young consumers [3] - Adidas has provided professional equipment support to various sports teams at Tsinghua University and other institutions to enhance their competitive levels [3][4] - The company is focusing on product innovation that aligns with the preferences of the younger demographic, such as specialized training apparel and pet-related products [4] Future Plans - Adidas plans to expand into emerging sports areas like street dance and hiking, creating social engagement opportunities for young consumers [5] - The company has achieved ten consecutive quarters of growth in the Greater China region, driven by localized operations and strategic resource allocation [5] - Future initiatives include leveraging the FIFA World Cup in 2026 to enhance its football offerings and expanding its presence in key regions like the Greater Bay Area [5]

连续八个季度实现"有质量的增长"。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 阿迪达斯 于 4月29日 发布了 2025年第一季度财报。 财报显示， 今年第一季度，阿迪达斯全球营收 61.53亿欧元，在货币中性下（下同）较上年同期增 长13%。同期，阿迪达斯营业利润较上年同期的3.36亿欧元同比增长82%至6.1亿欧元；毛利率也 较上年同期提升0.9个百分点至52.1% 。 在全球业绩增长超预期的同时， 作为阿迪达斯重要的战略市场之一，大中华区业绩再次实现双位数 增长 —— 今年第一季度，大中华区实现营收 10.29亿欧元，同比增长13%，已连续八个季度实 现"有质量的增长" 。 阿迪达斯全球 CEO古尔登表示，"对我们团队在第一季度取得的成就感到非常自豪。所有市场和渠 道均实现了双位数的增长，这不仅彰显了我们品牌的实力，也证明了团队卓有成效的工作。6.1亿欧 元的营业利润和9.9%的营业利润率，充分展示了公司的巨大潜力。 目前，由于美国对多个国家和地 区增加关税，且最终的关税处于不断变化的情况，这也将对我们今年的业绩带来不确定性。我们将 ...

Core Insights - Adidas reported a strong performance in Q1 2025, with global revenue reaching €6.153 billion, representing a 13% year-over-year growth in currency-neutral terms [1] - The company's operating profit surged to €610 million, up 82% from €336 million in the same period last year, with a gross margin increase of 0.9 percentage points to 52.1% [1] - The Greater China region achieved a revenue of €1.029 billion, also reflecting a 13% year-over-year growth, marking eight consecutive quarters of "quality growth" [1] Financial Performance - Global revenue for Q1 2025 was €6.153 billion, a 13% increase year-over-year in currency-neutral terms [1] - Operating profit rose to €610 million, an 82% increase from €336 million in the previous year [1] - Gross margin improved by 0.9 percentage points to 52.1% [1] Market Performance - The Greater China region's revenue reached €1.029 billion, with a year-over-year growth of 13% [1] - The region has experienced eight consecutive quarters of double-digit growth [1] Strategic Initiatives - Adidas is focusing on enhancing its core competitiveness in the sports sector, launching new products like the ADIZERO ADIOS PRO 4 running shoes [6] - The company is committed to integrating sports performance with fashion, launching various collections that appeal to younger consumers [7] - Adidas emphasizes a localized strategy in China, leveraging local design capabilities to cater to consumer preferences [8] Brand Development - The brand's global campaign "You Got This" aims to inspire confidence among athletes and consumers [2] - Adidas has engaged with elite athletes and ordinary sports enthusiasts to promote its brand message [2] - The company has introduced various collaborations and limited-edition products to strengthen its market presence [7][8]