10% of adidas Products in Asia are Fakes, According to CEO
Counterfeit goods continue to be a huge problem for adidas, especially in Asia. According to CEO Kasper Rorsted, the brand has calculated that up to 10 per cent of all adidas products on sale in Asia could be fake.
‘In Asia it is a problem, but that's an overall market problem, where we believe that approximately up to 10 per cent in certain categories are fakes, are copying,’ said Rorsted in an interview with CNBC. ‘We are seeing that in bricks and mortar and we are seeing that online… It continues to be a big problem for our industry.’,
Despite the ongoing battle with fakes, adidas still reported a fruitful first quarter of the year, built off the back of strong sales in North America, Greater China and online. Growth in Greater China alone was 26 per cent in the first three months of the year. Rorsted attributed the strong performance to the emergence of ‘athleisure’ — the emergence of active wear within the casual fashion realm.
‘I think the trend towards more casualwear is only starting right now. So the question is not whether … the trend is going to continue, it is how you service that trend,’ he said.
So, be sure to double-check those swing tags next time you cop goods from Asia — you never know what you’re gonna get.