First the soccer World Cup, now the Beijing Olympics. It has been a golden month for global sportswear and equipment giant Adidas.
Hot on the studded heels of its $350 million (€268m, £186m) seven year sponsorship deal with FIFA [WAMN: 21-Jan-05], the German-based company will also continue to clothe the officials and service staff of the 2008 Games, as well as the host nation's Olympic team and its competitors in next year's winter spectacular in Turin, Italy.
Says Adidas ceo Herbert Hainer: "As our fastest growing market, China is tremendously important to Adidas, and this agreement will be a powerful contributor to increasing our brand profile with consumers in that market."
Adidas is opening forty new stores on the Chinese mainland each month and the exposure guaranteed by the Olympic Games will deal a significant blow to its arch rival and global leader, US-based Nike.
Adidas, headquartered in Germany, expects to notch more than $1.3bn of sales in China by 2010.
Data sourced from mad.co.uk; additional content by WARC staff