Nike and Adidas are expanding in China

Adidas and Nike are expanding in China this year. Both companies seek to slit a bigger slice from the 24 billion USD Chinese market with new market strategies.

Nike, which has 12.1 percent market share this year, wants to open 40-50 new outlets offering mainly discounted goods. The company reports that Nike has 3.3 billion USD worth accumulated reserves.

Adidas primarily focuses on the sales of its new products, focusing on the large and medium-sized cities this year. Last year the company opened 800 new stores across the country, and was able to increase its income by 15 percent during the year. (MTI)