German sportswear giant adidas AG, and its subsidiaries, operate a sprawling business that covers Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. The company specializes in designing, developing, producing, and marketing athletic and sports lifestyle products with a specific focus on footwear, apparel, and accessories such as bags and balls under the adidas brand. The company offers its products through a network of own retail stores, mono-branded franchise stores and shop-in-shops, as well as wholesale and e-commerce channels. Founded in 1920 and formerly known as adidas-Salomon AG, the company changed its name to adidas AG in June 2006. Headquartered in Herzogenaurach, Germany, adidas AG has established itself as a leading player in the global sportswear and lifestyle industry.