Adidas launches Polygiene in its TERREX CC Voyager shoe - a breakthrough for Polygiene
31 January 2018 Regulatory Information
Adidas has, in cooperation with Polygiene, conducted a comprehensive test study with a positive result, with the result that Polygiene now is introduced in the Adidas TERREX CC Voyager model with sales start February 1, 2018. Initially, a smaller volume is being launched.
This is a breakthrough for Polygiene's strategic effort within the Footwear segment. A solid work is now under way to continue Polygiene's expansion within the Footwear segment to support the Company's financial goal of net sales of more than 400 million and an EBIT margin exceeding 20 percent by latest 2022.
”Our strategic plan includes a breakthrough in the Footwear segment and Polygiene launching with Adidas TERREX is an important step in the right direction. My hope is that this leads to more and larger cooperations with Adidas, whilst also opening the door to more brands in the Footwear industry. I am convinced that what we see today is just the beginning of a very exciting journey for Polygiene going forward”, says CEO Ulrika Björk.
In 2016 Adidas sold approx. 360 million pairs of shoes worldwide and is the second largest in sports shoes in the world. It is estimated that in total over 1.7 billion pairs of sports shoes were sold in the world in 2016. An external market report commissioned by Polygiene in 2017 indicates that the global addressable odor control market for all types of footwear amounts to about 450 million pairs of shoes per year long-term. Polygiene's ambition is to become the market leader in this segment.
Polygiene will also publish a press release targeted towards the industry. The text will be available at http://polygiene.com/news/
This information is information that Polygiene AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at January 31, 2018, at 08.00 CET.