Adidas 2002 Annual Report Download - page 15
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Our regions also delivered excellent performance. Spurred by the World Cup, sales in
Asia grew by more than 20% on a currency-neutral basis with Japan, Korea and China
being the key drivers. In North America, our new approach to the market is producing
results and our turnaround is in full swing. In local currency, sales grew by 14% and year-
end backlogs showed their highest rates since 1998. In Europe, our biggest region, we
increased sales by another 4% despite especially tough conditions in our home market
Germany. Standouts here were Italy and the UK. In Latin America, currency-neutral sales
grew more than 30%. In euro terms, however, this positive development was undercut by
massive currency devaluation in Argentina and Brazil.
We continued to align our marketing and operations activities more closely. We now
have dedicated teams for all areas of our business: adidas Sport Performance, adidas Sport
Heritage, adidas Sport Style, Salomon and TaylorMade-adidas Golf. In addition, we made
major headway in further increasing speed to market, including taking 30 days out of the
footwear production process.
Our work on social and environmental issues was widely acknowledged by stake-
holders, non-governmental organizations (NGOs) and other independent institutes. We
were again rated as a leader in our industry by the Dow Jones Sustainability Group
Index and the FTSE4Good Europe Index.
Manfred Ihle, 61 /// Legal and Environmental Affairs / German
The true sportsman knows that winning is only sweet when the
victory is achieved fairly and honestly.
Ross McMullin, 47 /// North America / Canadian
In business as in sport, strong leadership and outstanding
teamwork are critical for success.
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