News briefs – Page 11
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News briefsAdidas sets tennis court afloat off Great Barrier Reef
Adidas and Parley for the Oceans have constructed a tennis court out of recycled ocean plastic and set it afloat, in time for the Australian Open, within Australia’s Great Barrier Reef marine park. The court does not itself float but is set atop one of the park authority’s barges. It ...
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News briefs
Adidas to establish a basketball hub in Los Angeles
Adidas has leased the equivalent of 9,940 square meters of office space in downtown Los Angeles, according to The Wall Street Journal, apparently to establish a hub for its basketball operations in the U.S., which are currently still based at the company’s North American head office in Portland, Oregon. The ...
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News briefs
ITC investigates Adidas’ Primeknit technology
The International Trade Commission of the U.S. has decided to launch an investigation to determine whether Adidas’ Primeknit technology for knitted shoe uppers infringe on six Nike patents for its Flyknit technology. If it determines that Nike’s claims are valid, the ITC may issue exclusion and cease and desist orders, ...
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News briefs
Adidas launches community program with Arsenal FC
In collaboration with the Arsenal FC, Adidas has launched an inspirational campaign, called “No More Red,” against knife crime and youth violence. In addition to refurbishing a pitch near the Emirates Stadium, where the English Premier League football club plays, the two partners are setting up a mentorship program in ...
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News briefs
Adidas starts new share buyback program
Adidas announced the start of the first tranche of its new multi-year share buyback program, announced in December 2021. As part of the program, the company intends to repurchase up to €1 billion worth of its own shares during the first quarter of 2022 alone. The company, which already completed ...
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News briefs
A new sustainable collab between Adidas and Prada
Adidas has unveiled a new partnership with Prada with a sustainable twist. The new Adidas for Prada Re-Nylon collection consists of a wide range of Adidas Originals products made in Italy with the permanently recyclable Re-Nylon fabric introduced by Prada in 2019, which is made by recycling textile waste and ...
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News briefs
Adidas launches a new €4 billion share buyback program
Adidas has announced the launch of yet another share buyback program that will involve investments of €4 billion until 2025, starting in January 2022. It has already bought back €1 billion worth of shares this year. Adding annual dividend payouts in a range of 30 to 50 percent of net ...
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News briefsMade to be remade: How Adidas wants to trigger systemic change
Eight months after announcing the new project of a climate-friendly running shoe in collaboration with Allbirds, Adidas has reported the planned launch on Dec. 15 of its Futurecraft.Footprint. With 2.94 kg of CO2 emissions per pair, Adidas describes the shoe as a personal best for both brands. The Futurecraft.Footprint is ...
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News briefs
New legal tussle between Adidas’ Primeknit and Nike’s FlyKnit
In the latest legal challenge over its labor-saving, knitted-upper Flyknit technology, Nike has filed a patent infringement suit in Oregon’s federal court against Adidas and asked the U.S. International Trade Commission to block imports of its latest Primeknit styles. The list of the products includes various lifestyle, football, running and ...
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News briefs
Adidas cancels over 8 million treasury shares after stock buy-backs
After completing its share repurchase program for the year, Adidas says it has proceeded to cancel 8,316,186 shares held in treasury, reducing the share count from 200,416,186 to 192,100,000. In its second tranche of the program, which ran from Oct. 18 to Nov. 25, the company bought back 1,619,683 shares ...
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News briefs
Adidas partners with cryptocurrency and gaming platforms
Adidas has struck partnerships with the cryptocurrency exchange Coinbase and the gaming platform The Sandbox, announcing them via Twitter on Nov. 22 and 24, respectively. The strategy behind these moves remains undisclosed, but it stands to reason that the German sportswear giant is seeking to sell branded virtual apparel and ...
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News briefs
Adidas strikes deal with Brooklyn Nets Basketball Academy
Adidas has signed a multi-year deal to become the preferred supplier of merchandise and equipment for the new Brooklyn Nets Basketball Academy for children. The NBA team will be selling Adidas-branded James Harden apparel through the Brooklyn Fanatics store at its home arena, the Barclays Center. Harden plays guard for ...
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News briefs
Google develops geographic fiber-tracking tool
Google has added a tool to its Google Earth Engine to gauge fibers by their geographic effects on the environment (air pollution, biodiversity, greenhouse gas emissions, effects on forestry, water use, etc.) and thereby guide textile brands to reduce the carbon emissions of their raw materials procurement. Developed in partnership ...
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News briefs
Moncler, Gildan and Adidas star in the DJSI
The 2021 edition of the S&P Global Dow Jones Sustainability Index lists Moncler in its Gold Class, Gildan in its Silver Class and Adidas in the Bronze Class. Three other sports companies – Asics, Puma and the Super Retail Group – were listed along with The Gap and companies in ...
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News briefsAdidas scores high on S&P's sustainability index
Adidas has undergone a very positive ESG (environmental, social and governance) evaluation conducted by the ratings agency Standard & Poor’s (S&P), receiving a score of 85/100. It is the most recent of the 27 companies to obtain a public ESG profile, and the only one in the sports industry. By ...
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News briefs
Adidas opposes holding the FIFA World Cup every two years
Joining a growing number of industry officials, Kasper Rørsted has criticized plans by FIFA to double the frequency of its football World Cup, holding it every other year. The CEO of Adidas, which is one of the main sponsors of the World Cup, reportedly told a Danish newspaper: “I don’t ...
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News briefs
New share buyback program will lead Adidas to return €1.6 bn to its shareholders this year
Adidas announced the successful completion of the new share buyback program launched in July and the launch of an additional program. Between July 1 and Sept. 30, the company bought back 1,851,522 shares for a total investment of €550 million. Starting on Oct. 18, Adidas plans to buy back additional ...
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News briefs
Adidas loses appeal about H&M’s two stripes
Ending a trademark dispute that began in 1997, the Dutch Supreme Court has dismissed an appeal by Adidas against a lower court’s ruling that a two-stripe logo used by Hennes & Mauritz did not infringe on its iconic Three Stripes. A key factor in H&M’s success was a market research ...
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News briefs
Adidas inaugurates a circular-fashion program with ThredUp
Adidas has inaugurated a circular-fashion program, called “Choose to Give Back.” The German brand is inviting customers to earn rewards from its Creator’s Club by returning used apparel and accessories from any brand for resale or re-use. It works through a combination of Adidas’ Creator’s Club app and ThredUp’s Reseale-as-a-Service ...
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News briefs
French court clears Bernard Tapie
In view of his death on Sunday Oct. 3, the Paris Court of Appeals has decided to “extinguish” all pursuits against Bernard Tapie in the case that pitted him against a French bank, Crédit Lyonnais, that helped him to finance Adidas’ takeover. The issue revolved around a sum of €403,000 ...
