German athletic wear company Adidas will seek sales of $24 billion by 2015, the company’s chief executive announced on Monday. Adidas’ CEO Herbert Hainer said the company will seek to overtake its main competitor Nike (NYSE:NKE) in sales and growth.
"Our aspirations are… to outgrow our major competitor and have the bottom line grow faster than the top line," Hainer said during the analyst presentation, according to reports.
Adidas reported strong results for its third quarter last week, and said that its continued growth will likely come from China, the United States and Russia. Adidas said that growth for the remainder of 2010 will likely hit 8%.