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Mavic Sales Exceed Expectations

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ST TRIVIER SUR MOIGNANS, France (16 August 2000) — In the first half of 2000 the Adidas-Salomon Group saw sales increase 7% to EUR2.8 billion and profit dropped 17% to EUR136 million. For Adidas-Salomon subsidiary and French component manufacturer Mavic the first six months of 2000 were a definite turn for the better. Between January […]

ST TRIVIER SUR MOIGNANS, France (16 August 2000) — In the first half of 2000 the Adidas-Salomon Group saw sales increase 7% to EUR2.8 billion and profit dropped 17% to EUR136 million. For Adidas-Salomon subsidiary and French component manufacturer Mavic the first six months of 2000 were a definite turn for the better. Between January and June Mavic’s global sales increased 27%. In Europe, the increase was 25% and in America a more impressive 34%.
Mavic was unavailable for comment as its offices are currently closed for the summer holidays. Other Adidas-Salomon brands posted good numbers as well. Taylor Made (golf) and Salomon (winter and trekking sports) recorded worldwide sales increases of 34% and 27%, respectively. The company’s traditional Adidas brand, which includes bikewear and bike shoes, increased a modest 3% globally. This is primarily due to US sales, which dropped 8% last year (Europe increased 5%). The news has prompted Adidas to introduce a new global brand strategy, which will be introduced on 1 October in New York. Adidas-Salomon CFO Robin Stalker expects stales for the entire year to increase 2%. “The weak euro will prevent us from further increases as it has a direct effect on our operating result,” he said. (JB)

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