Latest Developments Adidas – Page 17
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Adidas sells TaylorMade to a private equity firm
The Adidas Group has finalized an agreement to sell TaylorMade Golf for $425 million to KPS Capital Partners, a U.S. private equity firm. Adidas bought the company in 1997 as part of its acquisition of Salomon, the French ski equipment maker, at a price equivalent to about €1.2 billion for ...
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Adidas strides ahead
The Adidas Group continued to zoom ahead in the first quarter of this year, with an ample sales rise and a sharp improvement in operating profit margin, despite pressure in the Russian market and a decline in football apparel sales.The Adidas group's turnover was up by 18.9 percent to €5,671 ...
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Adidas projects continued expansion in China
The Adidas Group is projecting another year of double-digit sales expansion in Greater China as it invests to build up a network of 12,000 Adidas stores by 2020, the company said during a trip to China by Kasper Rorsted, its chief executive since October.The brand currently has more than 10,000 ...
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Adidas eyes €5 billion in North American sales by 2020
The Adidas Group is targeting annual sales of €5 billion in North America by 2020, a jump of nearly 50 percent compared with a turnover of €3.4 billion for the Adidas and Reebok brands last year.The target was outlined at an Investor Day held by the Adidas Group in Herzogenaurach ...
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Bullish new CEO upgrades Adidas targets
About two years after the launch of Creating the New, the Adidas Group has raised targets for its five-year expansion plan, to reach sales of between €25 billion and €27 billion by 2020, with an operating margin of 11 percent for the Adidas and Reebok brands.The upgraded targets were outlined ...
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Adidas gathers growing sales and profit
Ending the year with another buoyant quarter, the Adidas Group has continued its growth spurt with a sales rise of 14.0 percent to €19,291 billion, up by 18 percent in constant currencies, and with improved profit margins.Kasper Rorsted, the group's new chief executive, attributed much of the performance to Creating ...
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Adidas posts a strong Q3, driven by sneakers
The Adidas Group reported a strong lift in third-quarter sales, which rose 17 percent on a currency-neutral basis, and the new management confirmed that it is on track to meet targets for a record year. In reported euros, group sales went up by 14 percent to €5,413 million.Adidas brand sales ...
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Adidas’ new CEO launches Reebok’s overhaul
In his first public speech after taking the helm of the company on Oct. 1, Adidas' new chief executive, Kasper Rorsted, took the opportunity of the group's strong third-quarter results to give an insight into his plans for the group.While confirming the planned divestiture of TaylorMade, Adams and Ashworth, for ...
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Adidas unveils Speedfactory shoe
Adidas unveiled the first shoe made at its fully automated German factory last month. The Futurecraft MFG (Made For Germany) that came out of the Adidas group's Speedfactory in Ansbach is one of the most tangible results of the latest innovation in footwear manufacturing, moving toward increasingly customized production that ...
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Herbert Hainer is leaving a transformed Adidas Group
Some of the most influential retailers, suppliers and other executives in the international sporting goods industry will be converging on a football pitch in Herzogenaurach next Friday to mark the departure of Herbert Hainer, the chief executive of the Adidas group for more than 15 years. The players will include ...
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Hainer delivers a “fantastic” last quarter at Adidas
Herbert Hainer, departing chief executive of the Adidas Group, said that he “saved the best for last” as he outlined the company's outstanding performance for the second quarter. As previously announced, ample gains in sales and profits for the three months led to another upgrade in the group's forecast for ...
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Adidas raises its guidance
A few days before it was due to announce its quarterly performance on Aug. 4, the Adidas Group raised its guidance for the full year, on the back of a 13 percent sales increase to €4.4 billion in the three months to the end of June, and an operating profit ...
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Adidas opens up and gets faster
The Adidas Group wants to get more creative talent involved in its product development, to invest over-proportionally in key cities and to speed up its production, in order to get closer to consumers. The initiatives form the three pillars of Creating the New, the strategic five-year plan unveiled by Adidas ...
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Adidas expands head office to support ongoing growth
Adidas has recently laid the foundation stone for two new staff buildings at its headquarters in Herzogenaurach. “Campus Expansion South” is to include a new office building for more than 2,000 employees as well as an events building with a restaurant for the employees. The expansion will also involve the ...
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Adidas expands its Kanye West deal
The partnership between Adidas and Kanye West, which has been instrumental in sustaining the brand's heat in the U.S. market last year, is to be reinforced with the launch of Adidas + Kanye West – a partnership run by a separate business entity, involving dedicated stores and a Yeezy-branded product ...
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Wide-ranging contract between Adidas and Wanda in China
The Adidas Group has struck a wide-ranging deal with the Wanda group, the largest real estate conglomerate in China, to support the development of football and basketball as well as the Adidas brand's retail business in the country.The Wanda group has been increasingly investing in the sports market in the ...
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Adidas agrees to €200 million extension of its DFB deal
While Adidas is battling it out with Nike and other brands on the sidelines of the European football championships, it has bagged an agreement to extend its partnership with the German football federation (DFB) for four years until 2022, at a cost of about €50 million per year.The agreed annual ...
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Adidas reclaims European football market lead
Adidas claims that it has taken the lead in the European market for football shoes and that it should reach a new record turnover of €2.5 billion in the football category this year, up from €2.2 billion in 2015. This would be more than twice the sales that the company ...
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Adidas to divest Mitchell & Ness
Adidas has entered into a definitive agreement to sell its Mitchell & Ness business to a newly-formed company owned by Juggernaut Capital Partners. Adidas said the sale of the Philadelphia-based apparel brand will allow the group to focus more aggressively on its core brands. Mitchell & Ness is best known ...
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Adidas to start talks for golf assets sale
The Adidas Group has decided to reduce its interest in the golf market by starting talks for the sale of the TaylorMade, Adams Golf and Ashworth brands. While pulling out of the golf equipment market, it would focus its golf apparel and footwear business on the Adidas brand.After a slump ...
