Adidas to defend soccer leadership by connecting with grassroots

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[June 24, 2015]  BERLIN (Reuters) - Adidas laid out plans on Wednesday to defend its position as the world's top soccer brand from fierce competition from rival Nike by launching a new range of footwear and setting up more grassroots programs.

Ahead of an investor presentation, Adidas said in a statement it aims to outgrow the market and grow its soccer business at a mid-single-digit rate on average per year on a currency-neutral basis from 2015 to 2020.

It set a target to double currency-neutral sales from its running business by 2020 by connecting with local running communities and focusing on the North American market, where it hopes for significant market share gains.

Adidas also said it hopes to increase sales from its sports-inspired fashion brand Originals by 50 percent by 2020.

(Reporting by Emma Thomasson; Editing by Jonathan Gould)

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