DUBLIN, February 12, 2016 /PRNewswire/ --
The global sports apparel market is expected to reach a value of USD 184.6 billion by 2020, according to a recent report available from Research and Markets. This information should come as no surprise to German sportswear giant Adidas AG, who today reported of a double-digit rate rise of their revenue and operating profit for 2016. Adidas had previously forecast a high single-digit growth for both measures, and today's unscheduled statement has seen the multinational corporation's shares rise by up to 4.8%.
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The increased forecast comes as a boost to Adidas, who are experiencing rising costs and a market share battle with main rival Nike Inc. and a number of smaller competitors. Adidas' net profits rose from €642 million in 2014 to €720 million in 2015, and the sportswear maker is hoping to use the Euro 2016 football championships and Olympic Games to showcase the brand and further increase demand and profits.
The increased sales could have a positive effect on a number of related markets, such as the global apparel and footwear market. This particular market is expected to grow with a CAGR of 6.28% by 2019 according to an industry report. It could also have a positive effect on the global sports equipment market, which is forecast to grow with a CAGR of 3% by 2020, as noted in a recent report.
For further information on this topic, and a full list of all related documentation, please visit the Sportswear section at http://www.researchandmarkets.com/rm/LMNR.
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SOURCE Research and Markets