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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition World Adidas eyes slice of lucrative youth fashion market AFP - Tuesday, November 16 Send IM Story Print Adidas eyes slice of lucrative youth fashion market BERLIN (AFP) - – German sports apparel giant Adidas said Monday it hoped to win sales of more than one billion euros with a new brand aimed at the lucrative 12 to 19-year-old market that is already being launched in Asia. With Adidas Neo, the firm hopes to "slice off a nice piece of the cake" of the worldwide fashion market, expected to be around 125 billion euros (170 billion dollars) by 2015, said Erich Stamminger, an Adidas board member. "We are unlocking a new segment: children and young people between 12 and 19," said Stamminger in an interview with German weekly Wirtschaftswoche. "A lot of them already wear Adidas for sport, but they are looking for fashionable stuff for school and free time," said Stamminger. He added the new products would be priced roughly 10 percent above those offered by Hennes&Mauritz, around the same price as Zara. "We are already opening Neo stores in markets like China, Russia, India and the Philippines ... we are already banking on sales of up to 400 million in 2010. By 2015, we assume we will have more than one billion euros." Last week, Adidas laid down an ambitious gauntlet to arch US rival Nike, saying it aimed to outgrow the world number one over the next five years. Adidas said that by 2015 annual sales would reach 17 billion euros, representing growth of 45-50 percent from 2009. Profits, meanwhile, would grow an at annual pace of 15 percent. Recommend Send IM Story Print Related Articles US-ENTERTAINMENT Summary Reuters - 2 hours 33 minutes ago New Michael Jackson song released, gathers buzz Reuters - Tuesday, November 16 RSC gives Roald Dahl's "Matilda" musical makeover Reuters - Tuesday, November 16 Handel's 'Alcina' storms Vienna State Opera AFP - Tuesday, November 16 Pamela Anderson in Indian reality TV show AFP - Tuesday, November 16 News Search Top Stories Oil will run out 100 years before new fuels developed: study Ireland in talks amid eurozone warning on debt GM to launch massive stock offering Thursday: source Europe to knock down barriers for disabled Portugal at risk of needing bailout: finance minister More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Greece admits breach of bailout terms as audit begins Travolta jets home as wife goes into labour Sushi wars: fight looms over bluefin tuna Muslims scale Mount Arafat as hajj peaks Binladin group wins $7.2 bln Jeddah contract More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France EU fines 11 airlines 800 million euros for air cargo cartel 'Naked' airport scanners may be 'dangerous' Be fit, have fewer colds: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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