Adidas not intersted in Umbro deal says chief
GERMAN sportswear brand Adidas is not interested in buying Umbro from owner Nike, its chief executive has said.
The declaration by Herbert Hainer, who was speaking in Warsaw, is sure to be welcomed by sports retail entrepreneur Mike Ashley, whose Sports Direct business is seen as a likely buyer of Cheadle-based Umbro.
Mr Hainer said: “We are already the market leader in football, we do not need another brand.”
Nike last month put its Cole Haan and Umbro brands up for sale in order to focus on its core Nike, Jordan, Converse and Hurley brands.
Adidas, which has its UK base in Stockport, said it experts 2012 to be a record year for sales of replica football kit and boots, which is likely to be €1.6bn – boosted by demand from Euro 2012.
Adidas has faced increasing competition from Nike, the world’s largest sporting goods company, which entered the footbal market in 1994.
Mr Hainer said: “Football is the heart and soul of our company and is what has made Adidas great. We have gained market share according to all the numbers I have.”
Nike, kit sponsor to Manchester United and Barcelona – two of the world’s most popular teams – achieved soccer sales of $1.8bn in 2011 and its market share is estimated at 36%, against 38% for Adidas.
