German Sportswear giant Adidas is undeterred by ongoing slowdown in the Chinese economy as it plans to open 3000 more stores in China by 2020. The expansion plan will increase the number of Adidas stores in China from 9,000 to 12,000.

Speaking about Adidas' expansion plan at a news briefing, the head of Adidas China Colin Currie said that the company also plans to double its presence in Chinese cities by adding more than 2,200 stores in coming years.  

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Currie shrugged off the current economic concerns and expressed his optimism over the Chinese economy, stating that his company is focused on China's economic upsides like the Chinese government's new aggressive policy to promote soccer industry in the country.

"We are cautiously optimistic, but we're far more on the optimistic side, " Currie said.

He added that in coming years, the company will focus on China's smallest cities. Currie said that he expects small cities in the country to steadily urbanize despite economic challenges, pushing demand for sportswear goods.             

Being the world's largest sportswear market, China holds immense importance for the German sportswear company. In past couple of years, its aggressive sales strategy and innovative business decisions has not only helped the company to outperform its rival Nike, but to also firmly cement its place in China, which is its fastest growing global market.

Adidas sales figure for 2015 reflects the impressive growth that the company has been making in the world's largest sportswear market. The company on Thursday reported that its sales last year in the China, including Hong Kong and Taiwan, increased by 18 percent year-on-year.     

TagsAdidas, china, Adidas Stores in China