Frankfurt, March 9 (AFP/APP):German sportswear giant Adidas set its sights on double-digit revenue growth in 2022 despite the shock from the war in Ukraine and struggles in Asia, announcing Wednesday an eye-catching deal to supply the Italian national football team.
“Sport is back in 2022 with the World Cup” of football in Qatar at the end of the year, CEO Kasper Rorsted said in a press conference.
He also announced that after the tournament Adidas will take over as kit provider for the Italian football team, the current European champions in the men’s game, having secured a deal with the local football federation (FIGC) to outfit all its teams.
Italy’s current shirt partner Puma said the business case to continue with the contract was “poor” after its local rival nabbed the contract with the “Azzurri”.
Adidas said it is aiming for revenue growth between 11 and 13 percent in 2022, after it saw revenues rise by 15.2 percent to 21.2 billion euros ($23.3 billion) in 2021.
The forecast took account of a “250-million-euro risk” in Russia and former Soviet republics due to the war in Ukraine, Adidas said.
The figure was equivalent to around half the group’s revenues in the region and “represents around one percentage point of growth” in sales for the company.
Adidas said on Monday it would temporarily shutter its stores in Russia as well as closing its e-commerce business, following similar moves by competitors such as Nike and Puma.
The sportswear company had already announced it was suspending its contract with the Russian Football Union to provide kits for the national team.
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