“We are by no means where we need to be, despite very strong growth rates,” Adidas Chief Executive Kasper Rorsted told CNBC Thursday.
“We’ll continue to invest very heavily and aggressively into the U.S.,” he continued, referencing a deal signed Wednesday to extend its partnership with North America’s Major League Soccer.
The firm announced that it is to spend an extra 700-800 million euros ($829-948 million) on marketing by the end of the decade.
The funds will help Adidas push ahead in the race against U.S. rival Nike and capitalize on key geographies, but it will also be crucial to the firm’s online business, which has enjoyed significant demand.
In the second quarter, eCommerce sales grew 66 percent. In the U.S., this was closer to 80 percent.