adidas AG Chair & CEO HERBERT HAINER "seems rather relaxed" even as the global economy "slows again," according to the WALL STREET JOURNAL's Torry & Schwab, who profile Hainer in the paper's "Management" section. Hainer believes that the sportswear sector is "more crisis-resistant than most." He said, "Our products aren't that expensive, and people can still afford to buy them because they're more concerned about their health, appearance and fitness, and sport is the best option for that." Still, he admits adidas "won't be able to stay completely untouched" in a tough economy and added, "If it's lasting it could unsettle consumer sentiment." Looking at the bigger picture, Hainer said that "growth can be expected from emerging markets and changing demographics." He said, "Thirty years ago, the average person retired at 63 and died at 65. Today, people retire at 60 or 61 and then live till 74 or 76. That means they have a considerably longer period of time to do things that they enjoy. ... People go walking, jogging, to the mountains; people of 70 or 75 go to the gym today." Hainer said that China remains adidas' "biggest source of growth," and that he is "convinced that the company will continue to post double-digit growth in China every year over the next five years." Hainer said "if just 10% of the Chinese population can afford" to buy adidas products, "then we're talking about 130 to 140 million consumers." He added that Brazil and Russia "are two other emerging markets with big growth opportunities." Hainer believes that the "company atmosphere has changed" since he joined adidas in '87. Hainer: "It's completely different today. We've got a broad international positioning and make 95% of sales abroad." He added, "If we manage (to overtake Nike) then I'll be pleased, but that's not our main goal. Our clear focus is to grow sustainably, and to grow profitably" (WALL STREET JOURNAL, 8/29).
