Vietnam continues to be Adidas’ top sourcing nation in 2024, contributing 27 per cent of the German sportswear behemoth’s overall product volume, up from 26 per cent in 2023.
Adidas stated in its 2024 performance assessment that China accounted for 16 per cent of the overall volume and Indonesia at 19 per cent as other significant producers. Adidas produced 92 per cent of its products in Asia in 2024, up from 90 per cent in 2023.
Vietnam was the largest manufacturer of footwear, accounting for 39 per cent of total production, followed by Indonesia (32 per cent), and China (14 per cent). Vietnam also accounted for 18 per cent of all garment production, making it the second-largest manufacturer. China came in third place with 16 per cent, while Cambodia was the largest with 23 per cent.
The largest producers of gear and accessories, according to Adidas, are China, Pakistan, and Turkey, accounting for 26 per cent, 23 per cent, and 21 per cent of the entire volume, respectively.
Adidas reported an 11 per cent increase in net revenues in 2024, reaching US $ 25.66 billion. Its operational profit reached US $ 1.46 billion, a 398 per cent increase.
Shoes made up the largest share of net sales (59 per cent), followed by clothing (35 per cent), and accessories and equipment (6 per cent).
According to Adidas’ 2023 data, which was gathered in 2024, the country employs 104,466 people across 15 plants, making Vietnam its largest workforce. According to the giant, workers’ net earnings were 73–84 per cent higher than the minimum wage required by Vietnamese law.
Other significant production centres included China (13 factories, 31,755 workers), Cambodia (eight factories, 39,152 workers), and Indonesia (nine factories, 96,698 people).
