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Adidas shrugs off China boycott call to raise outlook - Netscape Money & Business

Adidas shrugs off China boycott call to raise outlook
By Emma Thomasson
Reuters
BERLIN (Reuters) -German sportswear company Adidas sees only a short-term impact from Chinese calls in March for a boycott of its products, raising its 2021 sales forecast on Friday as it expects a resumption of big sporting events to drive demand.
Adidas now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50% expected in the second quarter.
It said the acceleration would be driven by new products such as Ultraboost running shoes that are designed to be recycled, as well as big events like the European soccer championship, the Copa America and the Tokyo Olympics.

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Adidas plans on more eco-friendly products in 2021

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Adidas AG said more than 60% of its products will be made with sustainable materials in 2021 as it expands its lineup of eco-friendly apparel, building on a raft of green programs outlined in recent years.
The German footwear and clothing maker said Monday that the products will be made with materials including recycled polyester and cotton certified by the Better Cotton Initiative, a nonprofit. Adidas's share of recycled polyester has already reached above 60%, and from 2024 the company aims to use only recycled polyester.
The "Primeblue" and "Primegreen" labels will mark products made with recycled materials, the company said.
"We have continued to invest in sustainability initiatives during the coronavirus pandemic and we will significantly expand our range of sustainable products in 2021," Adidas Chief Executive Kasper Rorsted said in prepared remarks. "We have worked with our suppliers to create the structures that make it possible to process recycled materials on a large scale.

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