Adidas runs past rivals, manages to grow profit 53% to Rs 1.74 billion

Adidas has also parted ways with many local partners who were not aligned with the new plan

German sportswear group Adidas has managed to grow the net profit of its India business by 53 per cent in 2017-18 — taking its margin beyond the 10 per cent mark, which no multinational in this space could cross for years. Its net profit for the year stood at Rs 1.74 billion, compared to Rs 1.13 billion a year ago, documents available at the Registrar of Companies (RoC) show. 

While its German rival Puma remained in the red during 2016-17, American brand Nike too failed to turn profitable between 2014-15 and 2016-17. The financial details of these two companies for 2017-18