If you’re looking for the latest Adidas kicks, be careful when shopping for them in Asia, because there’s a chance they may be fake.
CEO Kasper Rorsted was in the news last week, following Kanye West’s controversial remarks on slavery, making it clear it didn’t impact their partnership. However, he also discussed the issue of fake sneakers.
In an interview with CNBC, Rorsted estimated that around 10% of all Adidas products on sale in Asia are potentially counterfeit.
“In Asia it is a problem, but that’s an overall market problem, where we believe that approximately up to 10% in certain categories are fakes… we are seeing that in brick and mortars and we are seeing that online. It continues to be a big problem for our industry,” he explained.
Despite the problem with counterfeits, Adidas continues to be on the up and up. Last week, the brand reported an increase in net profits in the first quarter of 2018, thanks to sales in North America, Greater China and online.