--- title: "12 Consecutive Quarters of Growth in China: How Far Can adidas AG's Localization Go?" type: "News" locale: "en" url: "https://longbridge.com/en/news/284758526.md" description: "Tailwinds for both running and football" datetime: "2026-04-30T11:30:07.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284758526.md) - [en](https://longbridge.com/en/news/284758526.md) - [zh-HK](https://longbridge.com/zh-HK/news/284758526.md) --- # 12 Consecutive Quarters of Growth in China: How Far Can adidas AG's Localization Go? Amid intensifying volatility in the global retail environment and heating industry competition, adidas AG is attempting to rebuild growth momentum through products and scenarios. On April 29, adidas AG disclosed its first-quarter 2026 results. On a currency-neutral basis, the company achieved revenue of €6.6 billion, a year-on-year increase of 14%; operating profit rose 16% year-on-year to €705 million. Of this, Greater China generated revenue of €1.14 billion, a 17% year-on-year increase, marking twelve consecutive quarters of double-digit growth. The two core sports scenarios of running and football are becoming key levers for adidas AG to rebuild brand momentum and drive sales. At the recently concluded 2026 London Marathon, the three male runners in the sub-2-hour camp all wore adidas AG Adizero Pro Evo 3 running shoes, attracting widespread attention in both professional running circles and the mass market. Performance in the Chinese market has been further bolstered by the continuous advancement of localization strategies. In recent years, the scale of the local running population has continued to expand. The recovery of marathon events and the rise of urban running culture have provided a broader demand base for professional running shoes and gear. Meanwhile, football, as a traditional category of strength, continues to serve the dual function of stabilizing demand and enhancing brand exposure, driven by the superposition of event cycles and content dissemination. Earlier this year, adidas AG announced it had become the official strategic partner and exclusive jersey equipment sponsor of the 2026 Jiangsu Provincial Urban Football League. This marks its first launch of exclusively customized jerseys for a non-professional football league in China. Changes on the product front are also noteworthy. In the first quarter, the new Chinese-style jacket series launched by the Shanghai Creative Center sparked "reverse daigou" in overseas markets. Meanwhile, the thin-soled shoe series "Anfu" and "CHANGLE," along with co-branded products with CLOT, have continued to reach young consumer groups. However, the other side of growth is a more complex external environment. adidas AG reaffirmed its full-year 2026 guidance in its financial report: at constant exchange rates, sales are expected to achieve high single-digit growth, with operating profit around €2.3 billion. At the same time, the company offered a more cautious assessment of the retail environment: "highly volatile with significant discounting." The strengthening euro directly reduced sales by approximately €350 million in the first quarter. The company expects tariffs and exchange rate factors to drag down operating profit by about €400 million for the full year. CEO Bjørn Gulden also admitted that he hopes the market environment will stabilize and promotions will return to normal, but these are variables beyond the company's control. The Chinese market also faces a new test of a "high base." Twelve consecutive quarters of double-digit growth, while providing certainty, have also raised the difficulty of future growth. Against the backdrop of the continuous rise of local brands and increasing competitive intensity, whether adidas AG can maintain this pace through product innovation and localized design remains to be seen. ### Related Stocks - [ADDYY.US](https://longbridge.com/en/quote/ADDYY.US.md) - [ADS.DE](https://longbridge.com/en/quote/ADS.DE.md) ## Related News & Research - [That $500 Adidas sneaker we wrote about yesterday is now on resale sites for $4,000](https://longbridge.com/en/news/284377378.md) - [Adidas reports first-quarter operating profit above expectations](https://longbridge.com/en/news/284498137.md) - [Sawe's marathon record boosts Adidas in 'supershoe' race with Nike](https://longbridge.com/en/news/284223829.md) - [Jefferies Sticks to Their Buy Rating for adidas AG (0OLD)](https://longbridge.com/en/news/284537140.md) - [Bernstein Sticks to Its Buy Rating for Adidas (ADDYY)](https://longbridge.com/en/news/284253973.md)