Kristin Kohler Burrows’ Post

Adidas reported net loss first time in 32 years Net losses as of the last year-end totaled 14 mln euro BERLIN/ Adidas sustained net losses as of 2023 year-end for the first time since 1992, the iconic German sports apparel and footwear retailer said in its financial report. Net losses as of the last year-end totaled 14 mln euro. Financial losses from continuing operations reached 58 mln euro. Adidas declared the net profit of 638 mln euro a year earlier. The main cause of the drop was severance of cooperation between Adidas and the Yeezy brand of US rapper Kanye West. According to the company's estimates, remaining inventories of branded products are sold at cost. In 2024, Adidas is going to reach the level of 500 mln euro of profit from operations. The board of directors of the German company intends to keep payments of dividends at the level of 70 eurocents per share, despite losses. Adidas reported the suspension of operations in Russia on March 9, 2022. Retail stores of the chain closed on March 14 of the same year. #business #finance #financialservices

What happens when you shift from a BATA or Khadim’s to PUMA or NIKE? I for most of my life had been a BATA girl. Rather, my first Nike was after I joined campus Quite naturally cuz you would not often see a PUMA, Adi, Nike store in tier 3 cities. Rourkela still doesn’t have one. It was pretty much good, and I never had the need to go for any other brand Welcome to the world out of my city Every footwear I saw was either a woodland, Nike, Adi, or PUMA. A rough calculation: out of 10 students in the first row of my class, and 7 would have any of the above 4 brand names I am starting to use the shoes and strangely haven't noticed much difference in durability (Maybe cuz am not into sports shoes) The usual sneakers, shoes, and sandals of BATA have lasted for 2+ years, and same goes with my current ones PUMA. The perceived value and influence of people around you have a lot to do with your choices and preferences. LinkedIn for Creators #puma #shoes #nike #bata #adidas #influencermarketing #brands #woodland

Everybody knows that PUMA Group and adidas are massive global brands reigning in the arena of footwear and accessories 👟✨ However, not everyone knows that both companies that compete for the same audience were founded by brothers Rudolf (“Rudi”) and Adolf (“Adi”) Dassler aka the Dassler brothers. They are also known as the Puma and Adidas brothers. In the heart of Germany in 1924, the iconic Dassler Brothers Shoe Factory emerged from the dreams of brothers Rudolf and Adolf Dassler. Together, they designed and produced innovative athletic shoes, focusing on functionality and performance 💯 Unfortunately, the relationship between the two brothers strained over the years, making them ultimate rivals in business.    Well, due to World War II and certain personal disagreements, it led to hatred between the two brothers. Their feud led to the origin of Adidas and Puma in the year 1947.   Adi, forging ahead with his vision, rebranded the business as "Adidas," which was formed by combining the first three letters of his first name with the first two letters of his last name. Likewise, Rudi initially named his business “Ruda,” using the first two letters of his first and last names. However, he later changed it to “Puma.” The multi-national brands created by both brothers have achieved phenomenal success over the years. Both Puma and Adidas have also been the companies behind various sponsorships over the last few years 💯   In the following three decades, both Adidas and Puma rose to dominance and signed deals with athletes such as Muhammad Ali and Joe Frazier (Adidas) and members of the Brazil national football team (Puma). The story of #Adidas vs #Puma shows us that relationships in the real world can easily transform the history of an industry forever 💫 Their Instagram profile: Puma: https://lnkd.in/dNpks8Zs Adidas: https://lnkd.in/daXtDicV Smita Balram Anirudh Dimri Sanchita Johri Nikita Malhotra Mohammed Hasnain Patel Radhika Batra Jigar Rathod #dasslerbrothers #inside3stripes #pumafam #ApparelIndustry #brand #Branding #foreverfast #shoes #clothing #mystory #brandstory #success #Linkedin

📊 Adidas Q1 2024 Results: Surpassing Expectations! 📈 adidas achieved some impressive results in the first quarter of 2024. Here are the key highlights: Sales Increase: The sportswear giant achieved an 8% increase in sales, reaching a total of €5.46 billion EUR during the three months ending March 31. This growth exceeded expectations and reflects the company’s resilience despite recent challenges. Yeezy Line Impact: Adidas faced setbacks due to losing its popular YEEZY line and severing ties with Kanye West at the end of 2022. However, the remaining Yeezy inventory still contributed around €150 million (US$160 million) in revenues during Q1 2024. Net profit for the 3 months to end March hit €170 million 👟 As a global leader in sportswear, Adidas continues to innovate and adapt to changing market dynamics. Stay tuned for more updates as the year progresses! 💪 #Adidas #FinancialResults #Sportswear #BusinessSuccess

Adidas: The German Shoe Giant Posted Its First #Loss In 30 Years. After years in the black, sportswear giant #Adidas has gone red. The German company posted its first annual loss in over 3 decades as the full effects of its breakup with Kanye West and his valuable #Yeezy brand continue to hamper the #apparel behemoth. 

The company revealed a €14M net loss for 2023 — a far cry from the €638M net income it notched in 2022, and even further from the €2.2B (~$2.4B) that it achieved the year before. Weak #revenue in the U.S., its second biggest market, is driving the decline, with #sales slipping 16% in 2023 — a trend that the 74-year-old company expects to continue this year as it battles with a glut of #inventory.

When it cut ties with Kanye West in October 2022, Adidas still had some $1.3B worth of Yeezy shoes in its warehouses that it has slowly shifted over the last 15 months, donating some of the #profits to fight hate speech, and the company now finds itself in a transitional period.

Soccer-player-turned-CEO Bjørn Gulden, who spent nearly 10 years at the helm of rival #Puma, set out a pretty understated roadmap slogan, saying that Adidas should be a “good company” by 2025 and a “really healthy company” by 2026. Nonetheless, shares in Adidas are up 55% since #Gulden took the reins and implemented his #turnaround plan. JSesko@meridianfinance.com 818-914-9271 #tradecreditinsurance

adidas Posts First Loss in 30 Years 📉 German sportswear giant Adidas posted its first annual loss in more than 30 years. 👉 It also warned of a sales decline in North America as sportswear retailers in the U.S. struggle with high inventories. 👉 Adidas has been striving to recover since severing its partnership with Kanye West in October 2022, resulting in the suspension of sales for the lucrative Yeezy sneaker line. 👉 Lower demand and overstocked stores in the U.S. have weighed on sportswear and apparel companies, and Adidas said sales in North America fell by 21% in the fourth quarter and by 16% over the year. Nonetheless, Adidas' board will propose an unchanged dividend of 0.70 euros ($0.7650) per share on its 2023 performance despite a net loss of 58 million euros, its first since 1992. 💵

🚀 Adidas Faces First Annual Loss Since 1992 Amidst US Sales Dip Adidas reports its first annual loss in over three decades with a $63.4 million deficit for 2023, marking a challenging period for the sportswear giant amidst global macroeconomic challenges and geopolitical tensions. The termination of the lucrative Yeezy collaboration, previously a $2 billion yearly boon for Adidas, has been the most damaging. The Yeezy franchise, Adidas's sole point of cultural connection, had been propelling the brand, which now leaves the brand strategising for recovery amidst flat revenues and a significant inventory reduction. Adidas CEO Bjorn Gulden stated, “Although by far not good enough, 2023 ended better than what I had expected at the beginning of the year.” I believe this was due to the trend of low-profile court shoes, which resulted in a high demand for Adidas Gazelles and Sambas, rescuing Adidas in what could have been a far worse year. It will be really interesting to see how Adidas navigates this turnaround beyond the retro court shoe trend, something they previously struggled to do. adidas | Adidas |

Adidas, the renowned sportswear giant, has encountered a significant setback as it reports its first loss in three decades, signaling a challenging period ahead. The company attributes this downturn partially to a decline in its sales in the United States, prompting a cautionary note about its future performance in this key market. This development underscores the broader economic challenges facing global corporations amid shifting consumer behaviors and market dynamics. #marketfacts #stockmarket #adidas #sportswear #losses #challenge #economicchallenges #globalbusiness #consumerbehavior #ussales #marketdynamics #news

👟 Adidas and Bata: Unlikely Allies in the Shoe World 👟 1. Rumors are going on about an unexpected partnership between adidas and Bata India Limited. Here is a simpler explanation of the news- hope it helps 🙂 2. In the world of footwear, adidas's collaborations are legendary – from teaming up with luxury brand Gucci to unexpected partnerships with #xbox. But the latest buzz about a potential collaboration with Bata India has left many scratching their heads. 🤔👟 3. Bata, known for its humble school shoes, might seem like an odd fit for Adidas. Yet, there could be more to this partnership than meets the eye. 🤝👬 4. Adidas could tap into Bata's extensive reach across India, leveraging its 2,100+ stores in over 700 towns and cities. 🏬🛍️ 5. This strategic move could provide Adidas an unparalleled advantage, especially after securing the Indian cricket team's jersey sponsorship. 🇮🇳💸 6. Bata's manufacturing facilities could offer Adidas a cost-effective production solution. Imagine the possibilities of combining their strengths to create something extraordinary! ✨💪 7. Remember how Metro Inc. Brands found success with partnerships like Crocs and Skechers, boosting revenue and footfalls? Bata might be following a similar path to revitalize its fortunes.💲 8. As trends shift towards more comfortable shoes, teaming up with Adidas could be the fresh spark Bata needs. ✨👞 Overall, the collaboration might offer benefits to both Adidas and Bata, potentially helping Bata regain market share and revitalize its image. 🤗🤗 #AdidasxBata #FootwearInnovation #StrategicPartnerships #strategic #adidasoriginals #collaboration #startupstrategies #footwearindustry

adidas, the renowned German sportswear giant, disclosed its first annual loss in over three decades in 2023, marking a notable downturn linked to its fallout with rapper Kanye West.   The brand has been navigating through challenges since severing ties with West in October 2022, including the suspension of sales for the profitable Yeezy sneaker line.   Under the leadership of CEO Bjorn Gulden, Adidas resumed selling Yeezy sneakers to clear remaining stock, while also focusing on popular products like the Samba and Gazelle shoes and improving relationships with retailers. Since Gulden's tenure, Adidas shares have rebounded, surpassing the performance of Nike and PUMA Group, and Adidas anticipates a recovery in its core business, excluding Yeezy, in 2024, with double-digit growth projected for the latter half of the year.   Adidas aims to reclaim market share from competitors like Nike, despite an overall decrease in demand for sportswear. The brand has found success with low-rise suede "terrace" sneakers such as the Samba and Gazelle, and has accordingly ramped up production. #AdidasLoss #KanyeWestFallout #YeezySuspension #AdidasRecovery #BjornGuldenLeadership #SportswearMarket #SneakerIndustry #AdidasPerformance #MarketShareRecovery #DoubleDigitGrowth