Adidas eyes 6,300 stores in China by 2010

BEIJING, July 3 Thu Jul 3, 2008 1:17pm BST

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BEIJING, July 3 (Reuters) - Adidas AG ADSG.DE expects to increase the number of its stores in China to 6,300 by 2010 from over 4,000 now, an executive with the German sports goods maker said on Thursday.

Adidas has not felt any fallout in China from the global economic slowdown and remains positive about the outlook for the local sportswear market, said Frederic Seiller, a vice president in charge of retail operations for Greater China.

Seiller was speaking to reporters during a preview of a new Adidas store in central Beijing. Measuring 3,170 square metres, it is the largest Adidas outlet in the world.

Adidas's total sales in China are projected to reach 1 billion euros by 2010, Seiller said. But he declined to say what turnover was now.

Adidas has been opening stores in China at the rate of three a day for the past three years with the goal of overtaking Nike (NKE.N) as the local market leader.

The firm would keep expanding, but the pace would slow in big cities, where Adidas would consolidate existing outlets, Seiller said.

"We will continue to open stores because there is still a lot of room," he said. ($1=6.852 yuan) (Reporting by Michael Wei; Editing by Alan Wheatley/Will Waterman)