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L'OREAL GROUP
Area Sales Manager - Consumer Products Division, Mumbai
Permanent · Mumbai
NIKE
sr. HR Operations Specialist
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L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
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Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
PUMA
Assistant Business Manager – Puma.Com
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Passplay, India - Consumer & Marketplace Icc
Permanent · Bengaluru
L'OREAL GROUP
Indirect Sourcing Manager
Permanent · Baddi
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
By
Reuters
Published
Mar 8, 2017
Reading time
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New Adidas CEO wants to race ahead in e-tail and boost US sales

By
Reuters
Published
Mar 8, 2017

The new boss of Adidas hiked sales and profit targets for the German sportwear firm on Wednesday and announced plans to increase ecommerce sales, simplify business processes and keep investing heavily in the key US market.

Kasper Rorsted, the former chief executive of consumer goods firm Henkel who took over in October, said he was adding goals to an existing 2015-2020 strategic plan, putting more focus on company culture, e-commerce and efficiency.


Adidas wants to sell more of its products online and will focus on digital in the months ahead - adidas



Rorsted was appointed to replace long-serving boss Herbert Hainer with a mandate to improve earnings after activist shareholders bought stakes in the firm in 2015 following a series of profit warnings as the German company failed to keep pace with US rival Nike.

Even before Rorsted took over, Adidas had made significant strides, hiking marketing spending and shaking up its US business, helping its shares rise two-thirds in the last 12 months even though its profitability still lags Nike's.

On Wednesday, Rorsted said he would put a new focus on digitisation, increasing e-commerce sales to €4 billion  ($4.23 billion) by 2020, up from a previous target of €2 billion, and expanding the use of technologies such as 3D printing.

He also announced plans to harmonise and simplify business processes, including reducing the number of articles offered and harmonising marketing activities, a similar strategy to that he pursued at Henkel, which helped boost profitability there.

Adidas now expects currency-neutral revenues to rise between 10% and 12% on average between 2015 and 2020, up from a previous target for a "high-single-digit rate", while net income should grow between 20% and 22%, up from 15%.

For 2017, Adidas forecast currency-neutral sales growth of between 11% and 13% and net income to rise between 18% and 20% to a level up to €1.22 billion, ahead of the €1.13 billion expected by analysts.

Adidas also reported a fourth-quarter net loss of €10 million on sales up 12.5% to €4.69 billion , in line with most analyst forecasts after it took a one-off charge to help restructure struggling fitness brand Reebok.

Adidas said it was still trying to sell its golf brands, even though it has missed an initial target to shed them before the end of last year, and said it is also now seeking a buyer for its ice hockey brand, where sales are falling.
 

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