Sport is becoming increasingly popular in Chile over recent years, a fact which has been noted by the sports clothing and food sectors. Nike has estimated that annual sector sales over the last five years have increased on average by 15%, with overall yearly sales of footwear and clothing in Chile standing at USD 700mn (EUR 475.87mn). Jogging and running has become an increasingly important activity and consolidated sales growth in the sector, according to Adidas, has surpassed 150% over the last three years. Nike forecasts a 35% increase for jogging related equipment, mostly trainers, in 2009. Adidas stated that there were 12,000 participants in the 2007 Adidas marathon and the company expects this to increase to 20,000 in 2010. Sports club Balthus has indicated that its industry has grown at 10% in terms of volume (especially in Greater Santiago) and there is plenty of room for growth.
Balthus expects its revenues to reach USD 10mn in 2009, similar to its 2008 results, and is planning to expand operations in Argentina and Peru. Correspondingly, sales of healthy foodstuffs have increased, including US nutritional products company Herbalife, which has increased the number of its distributors from 2,700 in 1998 to 22,000 in 2009 and volume sales have increased nine-fold.
Chile: Publication: Esmerk - News monitoring
Provider: Esmerk
September 29, 2009
