German sportswear maker Adidas has appointed Subhinder Singh Prem, currently ManagingDirector, Reebok India, to head its Indian operations. The current Adidas India Managing Director Andreas Gellner will take over as the Managing Director, South East Europe. In January 2006, Adidas had acquired Reebok for $3.8 billion and with this move Adidas India hopes to continue as the overwhelming leader in sports goods segment within India. Prem had joined Reebok India in 1995. Before becoming MD in 2003, he also held various positions within Reebok India, including executive director of sales and marketing. On the other hand Gellner in his new role will be responsible for the group’s business in Greece, Cyprus and the Balkans.
In November 2010, the group unveiled its 2015 strategic business plan named Route 2015. This plan is the most comprehensive Adidas has ever prepared, incorporating all brands, sales channels and group functions globally. Adidas aspires to outperform total market growth (both GDP and the sporting goods market) and to grow its bottom line faster than its top line. In addition, the group plans to lay the foundation for leadership in the sporting goods industry by outgrowing its major competitor over the next five years. The plan aims at growing revenues of the Adidas Group by 45 to 50 per cent from 2010 to 2015. In addition, the group targets a compounded annual earnings growth rate of 15 per cent and aims to reach an operating margin of 11 per cent sustainably by 2015 at the latest.