BERLIN (Reuters) - Adidas, the world's second-biggest sportswear firm, will increase its spending on marketing by 1 percent of sales as it seeks to halt the advance of market leader Nike following a profit warning last week.
The German group said it planned to increase its target range for marketing spending to 13-14 percent of sales from a previous 12-13 percent. Adidas spent about 12.4 percent of its 14.5 billion euros of revenue on sales and marketing in 2013.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!