Counterfeit goods remain a big problem for global retailers, especially in Asia, the chief executive officer of Adidas told CNBC Thursday.
The German brand has calculated that up to 10 percent of the Adidas-branded products on sale in Asia could be fake. This includes products in stores and online.
“In Asia it is a problem, but that’s an overall market problem, where we believe that approximately up to 10 percent in certain categories are fakes, are copying … and we are seeing that in bricks and mortar and we are seeing that online,” Kasper Rorsted, chief executive officer of Adidas, told CNBC’s “Squawk Box Europe.”
“It continues to be a big problem for our industry,” he said.
The brand reported Thursday an increase in net profit during the first quarter of the year. This was driven by sales in North America, Greater China and online. Growth in Greater China alone was 26 percent in the first three months of the year.
Be the first to comment