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  • Adidas will invest more than $1 billion to double its online sales over the next five years and to make nine out of 10 of its products eco friendly using more recycled and biodegradable materials.

  • The German sportswear giant released its five year plan on Wednesday after better than expected fourth quarter results.

  • It forecast a 2021% sales growth rate in the mid to high teens, rising to as much as 30% in Greater China.

  • The rest of Asia and Latin America added as shares were up around 5% by lunchtime, making them among the biggest climbers on the German blue chip index.

  • Sporting goods firms have suffered from store closures but gained online sales during lockdowns as running and yoga have boomed added as wants to rival the profits of Nike, the world leader which has drawn people on Mass with its workout and store apps, driving significantly higher online sales over the past year, Adidas CEO KASPER Roasted said E commerce will account for more than 40% of the industry sales by 2025 with online growing three times faster than offline.

Adidas will invest more than $1 billion to double its online sales over the next five years and to make nine out of 10 of its products eco friendly using more recycled and biodegradable materials.

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