 "Adidas targets faster sales and profit growth from 2016")
German sportswear company Adidas hopes to increase sales and profitability at a faster rate in the next five years by focusing its marketing on six global cities, selling more direct to customers and expanding product customisation.
The world's second-biggest sportswear firm, which has been falling behind rival Nike, said on Thursday its five-year strategy would focus on "speed, cities and open source", with investment in Los Angeles, New York, London, Paris, Shanghai and Tokyo.
Adidas said it would target high single-digit currency-neutral sales growth each year from 2016-2020 and a rise in net income of around 15% per year on average, both above the targets it set earlier this month for 2015.
Adidas said it planned to further increase its own retail spaces to account for above 60% of sales, from about half in 2014, with ecommerce revenues to grow to above 2 billion euros ($2.2 billion) by 2020 from 422 million in 2014.
($1 = 0.9110 euros)