Adidas crosses the ` 1,000-cr revenue mark
Adidas has become the first sportswear brand in India to cross the ` 1,000-cr revenue mark. Dave Thomas, 46, has made Adidas the first sportswear brand in India to cross the ` 1,000-crore revenue mark. The company, which posted ` 61.9-crore profit for March ended fiscal last year and has seen its profit tumble from ` 116 crore in 2014 fiscal, is likely to see profits jump at least twice when it publishes its audited numbers in a month or so. From a paltry under 3% contribution to revenue in 2014, Originals now makes for over 10% of the company’s top line. Stan Smith, a global blockbuster sneaker for Adidas, is the second-largest selling Originals’ brand in India. India happens to be the country fuelling the Stan Smith rage globally as the Chennai factory supplies over 40%-45% of the world’s supply. “It’s a great story. Narendra Modi’s Make in India is something we buy into,” Dave says.