Latest Developments Adidas – Page 8
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Wildberries and Amazon enter new countries in Europe
Russia’s biggest online retailer, Wildberries, has started to operate in France, Italy and Spain, with dedicated sites and mobile apps tailored to the local markets, the company has said in a statement. It has been operating in Germany since January. The company currently offers about four million items from nearly ...
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ArticleAdidas has decided to divest Reebok
Having completed a month-long review of the brand, the Adidas Group has decided to begin a “formal process” to divest the Reebok brand. The other option would have been to keep it in-house. The German sportswear giant had originally planned to make an announcement on March 10, during a previously ...
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ArticleBezos hands over leadership of Amazon
In the third quarter of this year, Jeff Bezos will hand over the operational role of CEO at Amazon to Andy Jassy, the head of the company’s cloud business, Amazon Web Services (AWS). Amazon made the announcement on Feb. 2 after the company released very good results for the fourth ...
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Will Reebok become black-owned?
Reebok would become the first major black-owned athletic footwear and apparel brand if the African American rap music mogul Percy Rebert Miller, also known as Master P, and a former two-time NBA All-Star, Baron Davis, succeed in their reported bid. According to reports in the ESPN sports network and Forbes, ...
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Adidas announces further progress on recycled materials
In 2021, more than 60 percent of Adidas’ products will be made with sustainable materials such as recycled polyester or sustainable cotton, according to the company. By 2024, the brand will only use recycled polyester. All of the cotton it uses, the company adds, has been of the sustainable variety ...
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Many seek to ‘Make Amazon Pay’
Some 401 parliamentarians and public officials – among them Jeremy Corbyn, former leader of the U.K.’s Labour Party; Yanis Varoufakis, Greece’s former minister of finance; and Ilhan Omar and Rachida Tlaib, two members of the so-called “Squad” in the U.S. House of Representatives – have signed an open letter to ...
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Nike and others lobby against Xinjiang labor bill in U.S.
According to the New York Times, Nike – along with Apple, Coca-Cola and other large companies – has been lobbying the U.S. Congress to soften some of the provisions of the Uyghur Forced Labor Prevention Act, which is not yet the law of the land but has been passed in ...
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Few sports brands in the Dow Jones Sustainability Index
Sustainability has become an increasingly important issue in the sporting goods sector. However, after being on the list for 20 consecutive years, Adidas is absent from this year’s Dow Jones Sustainability Index (DJSI). The annual DJSI, which has reached its 21st edition, assesses the sustainability performance of the largest 2,500 ...
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ArticleEU estimates that Amazon broke competition rules
The European Commission believes that Amazon violated competition rules by unfairly benefiting from non-public data on independent sellers who use its marketplace, it said in its preliminary findings from an antitrust investigation it has been conducting against the American e-commerce giant since last year. The European Union’s executive body added ...
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ArticleDigitalization helps Adidas to recover
The Adidas Group made a strong recovery in the third quarter, approaching a normalization of its business, thanks largely to a 51 percent boost in e-commerce, coupled with a more a selective distribution policy. Mentioning its close relations with JD Sports Fashion and Zalando as examples, down to inventory sharing, ...
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ArticleAmazon posts 37% higher sales, net profit triples
Amazon said that its sales in the third quarter grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange ...
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New Amazon probe by the German Cartel Office
The German Cartel Office has reportedly opened yet another investigation into the practices of Amazon, this time looking into complaints that the giant e-tailer has entered into exclusive agreements with certain suppliers that prevent other retailers from selling certain branded products. As an example of this behavior, the German anti-trust ...
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Amazon starts ups in Sweden, with some glitches
Amazon’s dedicated platform for the Swedish market, Amazon.se is now live, but observers pointed to some embarassing bugs including translation mistakes, which resulted in some offensive or embarassing words used in product descriptions (e.g. valdakt instread of rapt for a plant), and picking the Argentinian flag instead of Sweden’s. Many ...
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ArticleAdidas may offload Reebok by March
Naming Anta Sports Products and VF Corp. as potential buyers for the brand, Germany’s usually well-informed Manager Magazin reports that the Adidas Group is planning to sell its Reebok division by next March. A spokesperson for the group said the company has a policy of not commenting on press rumors, ...
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Amazon enjoys a record-breaking Prime Day
Third-party sellers on the Amazon Marketplace generated sales of more than $3.5 billion during the company’s recent Prime Day promotions on behalf of small and medium-sized businesses. This represents an increase of nearly 60 percent from last year’s promotion, outstripping the growth in Amazon’s own sales. Prime Day took place ...
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ArticleSports stocks rose by 10.8% in Q3
The sporting goods sector confirmed its resilience in the third quarter of 2020 with an average increase of 10.8 percent in the public companies’ share price between June 30 and Sept. 30. Comparatively, two relatively bullish American indexes, the Dow Jones 30 and the S&P 500, posted gains of only ...
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Adidas completes green bond offer
Adidas has announced the successful placement of its first sustainability bond, whose offer was more than five times oversubscribed. The €500 million bond carries a 0.00 percent coupon and has a duration of eight years. It is divided into five equal tranches and will be listed on the Luxembourg Stock ...
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ArticleAmazon’s European chief is stepping down
Xavier Garambois, who has been running Amazon’s European retail operations for the past eight years, is leaving the company. According to The Telegraph, he will be replaced by Jorrit Van der Meulen, Amazon’s vice president for Europe, who has also been in charge of Amazon Devices (Alexa, Vesta, etc.) outside ...
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ArticleAmazon: The Janus-faced company
The current Covid19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...
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Two prominent Adidas executives quit
Two prominent U.S.-based Adidas executives are leaving at the same time, but an official of the company says the two events are completely unrelated. Jon Wexler, a 20-year veteran of the company who has been leading its Yeezy business unit since last November as vice president and general manager, left ...
