Adidas Aims Higher Growth Despite Sales Drop In China
Adidas has set high hopes for the fiscal year 2021, expecting a profit of 20% despite a boycott of Adidas products in China. The company places its confidence in the launch of NMD sneakers, the Tokyo Olympics, and Club Soccer in Europe. Reportedly, western brands including Adidas have faced backlash in China after "refusing to take source cotton from Xinjiang over alleged human rights violations".