Monster Won't Change NASCAR Model Outfits NHL Signs PPG For New Leaguewide Category Four Companies Sign Up As WBC Global Sponsors Marketplace Roundup Ravens Offering $200,000 Sponsorship Package Lear Corp. Presenting Sponsor Of Detroit IndyCar Monster Focused On Younger Audience At Daytona Brands Seemingly Reluctant To Sponsor '18 World Cup Marketplace Roundup Turner Sports Selling Single-Sponsor Ad Breaks
SBD/December 4, 2013/Marketing and Sponsorship
Adidas Unveils Brazuca Ball For '14 World Cup, Emphasizes Fix In '10 Design Flaws
Published December 4, 2013
BUMPS IN THE ROAD: The FINANCIAL TIMES' Alice Ross notes adidas Chair & CEO Herbert Hainer admitted that the company has "made mistakes and not performed as well as senior executives had hoped." Hainer yesterday said that the environment "'had served up a constant stream of challenges,' including cost pressures, currency swings and a 'persistently weaker' European market." Ross notes adidas is "midway through a five-year plan with the aim of increasing sales" to US$23.1B and "achieving an operating profit margin" of 11% by '15. Hainer said, "After three years, we are not where we thought we would be in terms of the numbers. And to be fair and frank, we have also made a few mistakes.” He added that adidas had "suffered 'bad luck' with injuries among some of the top athletes it sponsors," including Bulls G Derrick Rose. Hainer said that the company "expected to improve its operating margin by about 1 per cent and increase revenues 'at a high single-digit rate' in currency neutral terms" (FINANCIAL TIMES, 12/4).