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Adidas CFO: Tariffs on China would lead to supply chain overhaul

Adidas AG would "go back to the drawing board and start again" on its supply chain if the Trump administration's reported proposal for $30 billion in annual tariffs on Chinese products is implemented, Adidas CFO Harm Ohlmeyer said in a March 15 interview with The Wall Street Journal.

The German sportswear company does 97% of its sourcing through contract manufacturers across Asia, including in China, Cambodia, Vietnam, Thailand and Indonesia, according to the WSJ.

Ohlmeyer told the newspaper that anti-China trade measures would have repercussions across the whole industry, and Adidas was "not isolated" in the matter.

The CFO also said Adidas is looking to increase its share of the U.S. sportswear market to 15%. The company's current market share is estimated to be about 10%, the WSJ added.

In addition, Ohlmeyer noted that the company will close 150 to 170 of its retail stores worldwide this year in response to a shift to online shopping. A majority of the stores are in Russia, he added.