To enhance the quality of spiked athletic footwear, he transitioned from a previous model of heavy metal spikes to utilising canvas and rubber.
Our international operations and sources of supply are subject to the usual risks of doing business abroad, such as possible revaluation of currencies, export and import duties, anti-dumping measures, quotas, safeguard measures, trade restrictions, restrictions on the transfer of funds and, in certain parts of the world, political instability and terrorism.
We Report on adidas not, to date, been materially affected by any such risk, but cannot predict the likelihood of such developments occurring. The global economic recession resulted in a significant slow-down in international trade and a sharp rise in protectionist actions around the world.
These trends are affecting many global manufacturing and service sectors, and Report on adidas footwear and apparel industries, as a whole, are not immune. Companies in our industry are facing trade protectionist challenges in many different regions, and in nearly all cases we are working together to address trade issues to reduce the impact to the industry, while observing applicable competition laws.
Notwithstanding our efforts, such actions, if implemented, could result in increases in the cost of our products, which may in turn adversely affect our sales or profitability and the imported footwear and apparel industry as a whole.
Accordingly, we are actively monitoring the developments described below. Our arguments were successful and the EU agreed in October on definitive duties of Prior to the scheduled expiration in October of the measures imposed on the non-STAF footwear, the domestic industry requested and the EC agreed to review a petition to extend these restrictions on non-STAF leather footwear.
The EC noted at the time that it would monitor leather footwear imports from Vietnam and China over the next 12 months. No new trade defense actions have been taken by the EC.
Neither party has filed an appeal. Footwear, Apparel and Equipment Imports into Brazil and Argentina At the request of certain domestic footwear industry participants, both Brazil and Argentina have initiated independent anti-dumping investigations against footwear made in China.
In the case of Argentina, inthe final determination made by the administering authorities was favorable to us. In the case of Brazil, the administering authorities agreed to impose an anti-dumping duty against nearly all footwear from China, which we believe will impact all brands in the footwear industry.
This decision does not materially affect us. In Octoberthe Brazilian government initiated an anti-circumvention investigation to determine whether Chinese-made products or components were subject to minimal assembly or finishing in Vietnam or Indonesia to evade anti-dumping duties on Chinese-made products.
In Julythe Brazilian government found no circumvention was taking place and this matter is closed. From time to time, in addition to these WTO licensing requirements, these jurisdictions impose further importation restrictions or limitations.
As a result, we have experienced delays in our ability to import our products or it has taken longer than the time allowed under the WTO for us to import our products. To date, our business has not been materially affected by these restrictions or delays.
Footwear, Apparel and Equipment Imports into Turkey InTurkey introduced safeguard measures in the form of additional duties on all imported footwear into Turkey with the goal of protecting its local shoe manufacturing industry until August In JuneTurkish shoe-manufacturers submitted, and the Turkish government agreed to review, a request for extension of the safeguard measures claiming that the rehabilitation process of the local Turkish industry was interrupted due to the continuing increase of footwear imports.
Together with other companies in our industry, we are advocating for exclusion of certain footwear products STAF shoes that cannot be manufactured in Turkey and therefore should not be subject to a higher import duty.Learn to code and mod Minecraft with Tynker's easy-to-learn, visual programming courses.
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