Adidas, Puma warn of coronavirus hit to China business

Adidas and Puma have both warned that the coronavirus outbreak is hurting their business. [Courtesy]

German sportswear makers Adidas and Puma have both warned that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists travelling and shopping in other markets.

Adidas and Puma make almost a third of their sales in Asia, which has been a major growth market for the sporting goods industry in recent years. The region is also the main sourcing hub, with China a major producer for both companies.