Ford Ends Champions League Sponsorship Only Six Serie A Clubs In Profit Hoeneß Admits To Evading Taxes League One Side Waits On Stadium LFP President Touts Recent Debt Reduction Cristiano Ronaldo Leads Goal's '14 Rich List ManU Set To Announce $1B Nike Deal Carson Yeung Hit With 6-Year Sentence Green: Worth Double What Rangers Paid Norway Questions Wealth Fund's F1 Deal
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/August 3, 2012/Finance
Adidas Sales Increase By 15% Due To London Games
Published August 3, 2012
STICK WITH IT: In other news, REUTERS' Victoria Bryan also reported adidas said that "it was not planning to sell struggling unit Reebok and that it hopes to return the division to growth" in '13. Hainer said, "I don't think it has anything to do with structure. What we were lacking in 2012 was new product initiatives" (REUTERS, 8/2).
DUCKING THE AMBUSH: Hainer appeared on CNBC’s “Squawk on the Street” Thursday morning from London. CNBC’s Michelle Caruso-Cabrera said “one of the things that’s new about the Olympics this year is how aggressive” the IOC is in “preventing ambush marketing when sponsors who haven’t paid the big bucks, like you have, try to do things to associate themselves with the Olympics.” Hainer said adidas paid “around $100 million (but) honestly, I don’t know exactly what we paid” to be a LOCOG Partner. Hainer: “But in general, I think this is absolutely correct because as a sponsor, you put a lot of money into it. You spend it … helping them organize the Olympic Games and then you're granted some rights and the only thing you want is that these rights are respected. Not more, not less.” Hainer said the IOC and the host city have “learned that if this happens again,” such as when Nike inundated the Atlanta Games with their logo, “then no sponsor will be willing to pay any money any more.” Hainer said the athletes and NGBs “will have to speak with the IOC” about the rule forbidding athletes to monetize their success during the Games by promoting non-IOC sponsors and “how this will continue in the future because we are also hurt by that.” Hainer: “This is a case where everybody involved is concerned and I think we have to find a common solution.” To determine the return on investment of adidas’ sponsorship dollars, there is the “commercial interest where you say, ‘I have paid so much and I want to regain as much as possible.’” The other is the “exposure” the Olympics afford your company and “for your brand. The whole world sees the athletes in your brand.” Hainer added, “From a commercial perspective, we’re doing very well. We have achieved already our objective and from the exposure … you see us everywhere” (“Squawk on the Street,” CNBC, 8/2).