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The starting inventory for all 4 colors was 1,875, and 720 of them were sold until week 12 with LTD sell-through rate of 38.40%.

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Week 1 - Aug. 31 : Controversy over Yeezys boost Adidas revenues to €400 million

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Week 1 - Aug. 31 : Controversy over Yeezys boost Adidas revenues to €400 million

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Overview:
In August 2023, Adidas made an announcement to dedicate a portion of its $400 million revenue to support anti-hate groups (Euronews, 2023).

What I learned:
Adidas' commitment to give out its $400 million revenue to anti-hate groups, as reported by Euronews in August 2023, is evident in its financial reports (Adidas Group, 2023). This pledge shows the company's dedication to promoting positive social change and reflects its contribution to corporate social responsibility and inclusivity.

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After Kanye West and Adidas' collaboration ended abruptly due to the rapper's antisemitic and offensive comments, the Yeezy's shoes have brought €400 million revenue for the German sportswear company.

Despite the fact that Adidas and Ye's collaboration - the rapper formerly known as Kanye West - ended abruptly, the German company has been able to profit from it.

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Adidas brought in €400 million from the first release of Yeezy sneakers left over after breaking ties with Ye.

The sportswear maker will donate part of the proceeds to groups fighting antisemitism and other forms of hate.

The first batch of shoes released in June, which sold out, helped the company reach an operating profit of €176 million in the second quarter, better than it originally planned, according to Adidas.

A second sale started on Wednesday.

Ye's antisemitic and other offensive comments led the company to end its partnership with the rapper last October.

After this, the future of trainers was unclear.

On the resale market, where Yeezys were selling several times above their regular price, buyers seemed to have lost interest in the shoes.

However, Adidas decided to go ahead with the sale seeking a way to dispose of €1.2 billion worth of the high-end shoes in a responsible way.

"We will continue to carefully sell off more of the existing Yeezy inventory," said CEO Bjørn Gulden, who took over in January.

"This is much better than destroying and writing off the inventory and allows us to make substantial donations to organizations like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change and Robert Kraft's Foundation to Combat Antisemitism," Gulden said.

Adidas has already handed over €10 million to the groups and expected to give an additional €100 million, with further donations possible depending on how future sales go, Chief Financial Officer Harm Ohlmeyer said.

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The Adidas CEO said the Yeezy sales are "of course also helping both our cash flow and general financial strength."

The first sale unloaded roughly 20% to 25% of the Yeezy sneakers that were left stacked up in warehouses, contributing €150 million of Adidas' €176 million in operating earnings in the April-to-June quarter.

Adidas also warned that the first sale included the highest-priced shoes and sold out completely but that it wasn't clear whether the remaining releases would see similar price levels and demand.

Brands cutting off Ye

The blow-up of the Ye partnership put Adidas in a precarious position because of the popularity of the Yeezy line, and it faced growing pressure to end ties last year as other companies, such as the luxury brand Balenciaga, cut off the rapper.

The torn-up contract was now in arbitration, "a process that is being taken care of by legal people" for both sides and was surrounded "by a lot of uncertainty," said Gulden, the Adidas CEO.

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Asked whether it must pay Ye royalties on the shoes, the company has said only that it will observe all its contractual obligations.

On the amount of money given to anti-hate groups, Adidas said the donations were not a fixed percentage of sales but that it had discussed with the recipients what an appropriate amount would be.

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Controversy over Yeezys boost Adidas revenues to €400 million

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After Kanye West and Adidas' collaboration ended abruptly due to the rapper's antisemitic and offensive comments, the Yeezy's shoes have brought €400 million revenue for the German sportswear company.

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Week 2 - Sep.6 : Bata India continues to 'explore strategic alliances' amid speculations of partnership talks with Adidas 

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Week 2 - Sep.6 : Bata India continues to 'explore strategic alliances' amid speculations of partnership talks with Adidas 

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Overview:
One of the biggest shoemakers with more than two thousand stores worldwide, Bata India, is in talk with Adidas for their partnership specifically for the Indian market. The talks between the two footwear and sportswear giants are known to be at the advanced stage with finalizing the deals.

What I learned:
According to the data from Statista (https://www.statista.com/outlook/cmo/footwear/india), the footwear market in India is considered to be one of the largest market among other countries. However, more than 90% of the revenue generated in the market is from the leather footwear category. This partnership if it becomes successfully concluded, it may potentially boost the revenue of the athletic footwear in the Indian market.

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TOI.in
A Bata store

Bata India clarified it 'continues to explore opportunities for strategic alliances' after speculations that it is in talks with footwear giant Adidas for a strategic partnership for the Indian market.

A television channel in India had reported on Thursday citing sources that Bata is in partnership talks with Adidas. The talks are likely in advanced stage and final contours of the deals are in the works, CNBC TV18 had reported.

ET Online had reached out to Bata India for their response.

Bata India, in a stock exchange clarification late Thursday, said it continues to explore opportunities for strategic alliance/collaborations/tie-up for the Indian market and as and when matters arise that require disclosure, the company will fully comply with its obligations under listing regulations.
"The Company has had successful long-running strategic tie-ups with various Brands over the years for offering unique propositions to consumers," it added.

" Back to recommendation stories

Bata India's shares were down nearly 1% today. On Thursday, it closed 5.3% higher at Rs 1,733.75 apiece in a downcast Mumbai trading as BSE Sensex had plunged 388 points.

In an interview with news agency PTI, Bata India's Managing Director and CEO Gunjan Shah said that the company is re-entering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital savvy consumers.

Bata is also pushing for offline sales growth and expects a major chunk of growth to come from its expansion under the franchise model, where it plans to add another 125 stores in FY24 and increase its presence at multi-brand outlets (MBOs).

Bat India's net profit tumbled by 10 per cent in Q1FY24. The company posted a net profit of Rs 119.3 crore in the corresponding quarter of the last year. Revenue from operations for the quarter stood at Rs 958.1 crore, a growth of 2 per cent over Q1FY23. Expenses were higher during the quarter under review to Rs 826.9 crore vs Rs 792.6 crore.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

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Bata India continues to 'explore strategic alliances' amid speculations of partnership talks with Adidas

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Bata India has clarified that it "continues to explore opportunities for strategic collaborations and tie-ups". This comes after media reports that Bata is in talks with Adidas over a potential strategic partnership for the Indian market.

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The total quantity of two worst selling colors were 656, and its sell through % was very low until week 10 since there were no discount, then it increased to almost 3% during week 11 and 12 due to a discount. The overall sell-through % is 8.38%.

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Week 3 - Sep. 11 : Yeezy Destocking Helps Lift Adidas Sales Outlook 

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Week 3 - Sep. 11 : Yeezy Destocking Helps Lift Adidas Sales Outlook 

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Overview:

Adidas started to destock their Yeezy from this May and announced that they generated $437 million in Q2, allowing Adidas to reduce its previously predicted loss for 2023 which was over $850 million. Overall sales were flat in the same period compared to Q2 of 2022 and gross margins increased by 0.6% (to 50.9%) in the quarter due to less discounts. Citi analysts expect further Yeezy drops to generate €1.5 billion in revenues and €700 million in earnings after Adidas' donations to anti-hate groups that the brand had claimed earlier.

What I Learned:

It was surprising to learn that the Yeezy boost that has been backlashed in social media due to the controversy is still demanded by actual customers and successfully being destocked, allowing Adidas to reduce its predicted loss for this year. If all the Yeezy stocks continue to sell out as the current tendency, it may help Adidas boost sales and increase its revenue.

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Adidas sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday, confirming strong demand for its remaining Yeezy shoes would help narrow a projected full-year loss.

Adidas shares have gained 40 percent since the start of the year as investors bet on CEO Bjorn Gulden's ability to turn the company around after a chaotic break-up with Yeezy designer Ye, the rapper previously known as Kanye West, over his antisemitic comments.

Sales of surplus Yeezy shoes generated around €400 million ($437 million) in the second quarter, helping Adidas reduce its predicted loss for the year to €450 million, down from the €700 million loss previously expected.

The company set aside €110 million in the quarter for donations to charities including the Foundation to Combat Antisemitism and the Anti-Defamation League, a step it had previously announced in a bid to mitigate the impact of Ye's public antisemitism.

In currency-neutral terms, overall sales were flat in the same period versus the second quarter of 2022, while they were down 5 percent in euro terms to €5.3 billion. Gross margins increased by 0.6 percentage points to 50.9 percent in the quarter, thanks to less discounting.

Adidas said it now expected currency-neutral revenues to decline at a mid-single-digit rate in 2023, from the high-single-digit rate previously estimated.

"For Adidas to sell the Yeezy stock well, without a lot of negative media or consumer backlash, is a good outcome," said Cristina Fernandez, managing director and senior research analyst at Telsey Advisory Group in New York.

The next Yeezy stock sales are also likely to attract strong demand, but may not be as profitable as the first drop, Fernandez said, as Adidas is including wholesale partners rather than only selling through its own channels.

JD Sports said it had started selling Yeezy products from Adidas' second release of Yeezy shoes on Wednesday.

Adidas said its 2023 outlook does not include the second Yeezy release. Citi analysts expect further Yeezy drops to generate €1.5 billion in revenues and €700 million in earnings after Adidas' planned charity donations.

In Greater China, second-quarter sales grew by 16.4 percent in currency-neutral terms, an indication that efforts to reboot its brand there are starting to bear fruit.

Gulden said in March Adidas would increase its focus on sports in China and sponsor more Chinese athletes.

In June it signed 17-year-old Chinese breakdance athlete Liu Qingyi, and in July announced a collaboration with Shanghai-based fashion designer Shuting Qiu for a collection inspired by women's football.

North America was the laggard, with sales dropping 16.4 percent in currency-neutral terms, which Adidas put down to high inventory levels there.

Adidas shares were down 0.8 percent by 07:50 GMT.
By Helen Reid; Editors: Sonali Paul, Mark Potter and Jan Harvey Learn more: Unpacking Adidas' Surprise Yeezy Coup After severing ties with Ye, Adidas was left to deal with $1.3 billion worth of unsold merchandise, which it considered destroying but decided to sell instead, beginning with a first drop in May. That turned out to be the right decision.

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Yeezy Destocking Helps Lift Adidas Sales Outlook

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Adidas sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday.

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Week 4 - Sep.18 : Adidas in line to reportedly sponsor Alpha Tauri from the 2024 F1 season 

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Week 4 - Sep.18 : Adidas in line to reportedly sponsor Alpha Tauri from the 2024 F1 season 

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Overview:

The article talks about Adidas possibly teaming up with AlphaTauri's Formula 1 squad from 2024. AlphaTauri is a racing team connected to Red Bull Racing in Formula 1, and Adidas is a well-known sports brand. If this happens, Adidas would sponsor AlphaTauri, putting their logo on the team's cars and merchandise.

This partnership could be a big deal. AlphaTauri would get more money to improve their Formula 1 performance, like upgrading their cars and hiring better drivers. Adidas would gain a chance to show off its stuff to a huge audience because Formula 1 has lots of fans worldwide.

What I Learned:

From this article, I found out that Adidas might start sponsoring AlphaTauri's Formula 1 team in 2024. This would help AlphaTauri become a better team in Formula 1, and Adidas would get to advertise to lots of Formula 1 fans. It shows how sports teams and big brands can help each other by working together.

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Sportswear giant Adidas are reportedly in contention to sponsor the AlphaTauri F1 team from the 2024 season.

Red Bull recently announced that they are considering changing the name of their junior team from AlphaTauri next season. The team, previously known as Toro Rosso, got its new name in the 2020 season and was launched as a fashion line for the Austrian brand.

However, they have failed to garner commercial success and generate enough awareness on their own since its inception. There were some reports recently that fashion giant Hugo Boss might be the favorite to sponsor the team from next season.

But AlphaTauri CEO Peter Bayer, speaking with Blick, denied these reports and claimed that the team was eyeing something bigger. Now it is being reported that Adidas might be in the running to sponsor AlphaTauri.

Red Bull shareholders have made it clear that they won't sell the team. As per PlanetF1, Bayer said:

"They said, 'Look, guys, we won't sell it, we'll keep the team. But we want to have a fresh start, we want to look at the global direction, strategic direction of the team, commercial success to sporting success. Let's take a critical look at all the elements.'"

He added:

"That's why it's a unique opportunity. We're building on experience but, at the same time, the sky's the limit for innovation and development. I'd love to, to be honest, but I'm not allowed. It's all NDA-protected!"

AlphaTauri F1 driver analyzes his Singapore GP performance

Following his performance in the qualifying session of the Singapore GP, Liam Lawson said that he was excited to be in the Q3 for the first time in his career.

However, he lamented not extracting the maximum performance out of the car as he will start the main race from P10. As per F1.com, Lawson said:

"It's obviously exciting being in Q3, but we didn't maximize the performance, and it's something we have to look at. It's a shame for Yuki because we have a strong package, and he looks comfortable in the car. I'm happy to make it into Q3 but there's more potential to be higher up."

He added:

"Today went well, but tomorrow is the important one. I'm starting in a good position in P10, but two hours is a long race and will be challenging. We'll focus on maximizing our car and driving our race."

There is a possibility that Lawson may score his first points in F1 on Sunday as it is very difficult to overtake in Singapore.

Quick Links

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Adidas in line to reportedly sponsor AlphaTauri from the 2024 F1 season

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Sportswear giant Adidas are reportedly in contention to sponsor the AlphaTauri F1 team from the 2024 season.

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Week 6 - Oct.10 : Adidas and Moncler merge tech and luxury in NFT AI collaboration 

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Week 6 - Oct.10 : Adidas and Moncler merge tech and luxury in NFT AI collaboration 

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Overview:

The article talks about a partnership between two big companies, Adidas and Moncler. They are working together to combine technology and luxury in a project involving NFTs (Non-Fungible Tokens) and AI (Artificial Intelligence). This collaboration aims to create something special by blending high-tech innovation with luxurious designs.

What I Learned:

In this collaboration, Adidas and Moncler are joining forces to mix advanced technology (like NFTs and AI) with high-end fashion and luxury. NFTs are unique digital items, and AI refers to smart computer programs that can learn and think like humans. By working together, these companies are trying to make something unique and stylish using the power of modern technology.

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This week, sportswear titan Adidas announced that its Adidas Originals division will be teaming up with luxury heavyweight Moncler on a non-fungible token (NFT) project. The digital collectibles drop today (October 4) in tandem with a new artificial intelligence (AI) based campaign.

To mark the tie-up's new high-low crossover, billed 'The Art of Explorers,' the pair turned their focus to machine-learning technology to generate a series of AI-enabled "adventurers."

Designed to represent the shared symbol of outdoor discoverers, the concept was also brought to life in the form of mixed-media sculptures, crafted by creatives Gary Card, Ibby Njoya, and Kate Tabor.

A virtual experience has also been launched via Moncler's dedicated website, further immersing audiences into the boundary-stretching adventure. Visitors are able to navigate through a metropolitan-inspired backdrop to unlock exclusive products, and make purchases via "digital billboards".

The project also taps into Adidas Originals' robust NFT strategy. In addition to the AI-powered venture, the collaboration will also drop a limited-edition token collection featuring the Moncler x Adidas Originals 'NMD' boot, which goes on sale via Adidas' Confirmed app today, and for the general public October 5.

When it comes to collaborations, Moncler is famed for marching to the beat of its own drum. For its 'Genius' Fall/Winter 2023 collection, the outerwear giant teamed up with eight designers, including Rick Owens, Palm Angels , and Salehe Bembury, across the fashion industry to reinterpret its classic house codes - the final installations were later showcased during a London Fashion Week event in February.

The brand also hasn't shied away from the emerging virtual space. To celebrate its 70th anniversary, Moncler dropped 1,070 NFTs inspired by its signature Maya jacket, created by 3D artist Antoni Tudisco in October last year.

With Adidas already having built up a much stronger identity in Web3, Moncler is in a favorable position to piggyback off of the sportswear label's status to help boost its own digital presence. After all, with collaboration at the heart of Web3's spirit, it's no surprise that brands are opting to team up in the space.

Collabs continue to arrive aplenty offline, despite speculation of a bubble burst. But as Web3 evolves into a valuable bedfellow, it might also turn out to be the industry's saving grace.

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Adidas and Moncler merge tech and luxury in NFT AI collaboration | Jing Daily

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Manifesting the future of collaboration, Adidas and Moncler's latest NFT and AI-powered tie-up offers a lesson in how to leverage innovation through Web3.

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https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IJ7060.html?pr=still_interested&slot=5&rec=mt

https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IA6341.html

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Studio - adidas Firebird Tracksuit #Studio #adidas #adidastracksuit

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-Style: Adicolor Classics Firebird Track Jacket
-Original Retail Price: $80
-Colors:

Basics: Black, Grey Two

Accent: Blue Bird, Better Scarlet

-Sizes: XS - 4XL
-Product Detail: Iconic loose-fitted firebird zip jacket with embroidered Trefoil logo and three stripes going down along the arms, representing the identity and DNA of Adidas.
-Material: 100% Recycled polyester tricot
-Care Instruction: Machine wash cold, Do not dry clean, Do not use fabric softner, Tumble dry low heat, Use mild detergents only

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Yedam Lee

Adidas is a leading global sportswear brand that is based in Herzogenaurach, Germany. Sport lies at the core of what they do. They have almost every lines of activewears including shoes, tops, bottoms and accessories. Three-stripes are recognized as their iconic trademark since 1949 when it is founded.

Their current core values are courage, ownership, innovation, team-play, integrity and respect. It is said that they prioritize accepting other cultures and innovative product development.

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Adidas continues to pioneer in sustainability through various methods and strategies. By 2025, nine out of ten adidas articles will be sustainable and by 2050, adidas will be climate neutral.

They continue to put efforts in minimizing emissions by adopting renewable energy at strategic Tier 1 and Tier 2 supplier facilities, and also reducing energy/resources consumption.

https://www.adidas-group.com/en/sustainability/focus-sustainability/our-targets/#/targets-for-2025-social-impacts/

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Commitment to Diversity, Equity, and Inclusion (DEI)

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Commitment to Diversity, Equity, and Inclusion (DEI)

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-Gender Balance: Adidas is committed to increasing female representation in management positions (Director level and above) globally to more than 40% by 2025. They have already achieved their target of 39.1% as of Q1 2023.

-Global Racial Equity: Adidas commits to promoting inclusivity across all diversity dimensions and across different intersectionalities.

-Against Racism: Adidas implemented United Against Racism in June 2020 to support the social justice movement. They aim to increase the representation of Black and LatinX employees in the U.S. by 2025, ranging from 20-23% representation. They have progressed to 17% (+5%) in corporate roles and 10% (+3%) in leadership positions as of the end of Q1 2023.

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Internships:

1) Intern, E-Commerce

Manila, Philippines l Sales

- Purpose/Mission:

Provide admin, and manpower support to E-commerce Team to help manage several administrative and monitoring tasks.

2)Omnichannel Marketing Support Working Student (3-months Contract)

Warsaw, Poland l Marketing $ Communications
- Purpose & Overall Relevance for the Organization:

Supporting Manager Sales & SPORT Accounts Activation in operational tasks and ad hoc projects such as preparation of presentations, excel summaries, and creating SAP and purchase orders.

Entry-level positions:

1) Retail Store Associate

Associate-Nashville, 6101, Antioch, TN

Aspirational positions:

Marketing&Communications

1) Product Manager - Sportswear Womens, Creation Center Tokyo- Product Marketing

Tokyo, Japan l Marketing & Communications

- Purpose & Overall Relevance for the Organization:

Bring consumer and sport insights into your concepts

Execute the category direction

Work with all creation functions to deliver product concepts

Create ranges within the category from both an image and commercial point of view

Product Development

1) Manager Development Footwear- Culture, Collaborations, and Partnerships

Portland, United States of America l Product Development

- Purpose:

Manage the footwear product development process by supporting the respective Business Unit(s) and directly interact with Tier 1 supply partners and LO’s. Provide an effective transition of footwear designs from prototyping into production.

Strategy

1) Senior Manager Strategic Planning

Shanghai, Greater China l Strategy

-Purpose & Overall Relevance for the Organization:

Support & drive GCA strategy development and execution through data synthesis, decision-support analysis and planning processes

Is this a company you would consider working for?
Yes, I would consider working for Adidas. First, Adidas offers a diverse range of career opportunities in various fields, from marketing and design to supply chain and technology. Some of the job openings are aligning with my skills and career goals and this is the key reason why I would want to work for Adidas. Also I can see the potential for career growth and development within the company and myself by looking at training, mentorship and advancement opportunities.

https://careers.adidas-group.com/jobs?locale=en

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1. Studio. (2019, November 8). Studio - adidas Firebird Tracksuit #Studio #adidas #adidastracksuit [Video]. YouTube. https://www.youtube.com/watch?v=DLlj11yLHAE
2. Adidas Adicolor Classics Firebird track jacket - grey: Men’s lifestyle: Adidas us. adidas United States. (n.d.-b). https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IA6341.html
3. Adidas Adicolor Classics Firebird track jacket - red: Men’s lifestyle: Adidas us. adidas United States. (n.d.-c). https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IJ7060.html
4. Pressman, L. (2023, February 10). Pantone Fashion Color Trend Report Autumn/Winter 2023/2024 for New York Fashion Week. Pantone. https://www.pantone.com/articles/fashion-color-trend-report/new-york-fashion-week-autumn-winter-2023-2024
5. Pressman, L. (2023b, February 17). Pantone Fashion Color Trend Report Autumn/Winter 2023/2024 for London Fashion Week. Pantone. https://www.pantone.com/articles/fashion-color-trend-report/london-fashion-week-autumn-winter-2023-2024

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1. Adidas: What we believe in. (n.d.). Retrieved from https://www.adidas-group.com/en/people-and-culture/what-we-believe/#:~:text=Our%20values%20of%20COURAGE%2C%20OWNERSHIP,to%20see%20in%20each%20other.
2. 2025. (n.d.). Our targets. adidas. https://www.adidas-group.com/en/sustainability/focus-sustainability/our-targets/#/targets-for-2025-social-impacts/
3. Diversity, equity & inclusion. adidas. (n.d.). https://www.adidas-group.com/en/people-and-culture/diversity-equity-inclusion/
4. Adidas careers – through sport, we have the power to change lives. adidas Careers – Through sport, we have the power to change lives. (n.d.). https://careers.adidas-group.com/jobs?locale=en

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4.8/5 for Grey Two (30 reviews)

4.9/5 for rest of the colors (9 reviews)

Fit: Few complaints about sizing, saying it runs too big

Quality: Many customers were satisfied with the quality and material and Some said that the style is versatile and goes well with various items

Color: Compliments on the color, especially the Blue Bird color

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4.8/5 for Grey Two (+1 new review)

4.5/5 for rest of the colors (+5 new reviews)

Fit: Complaint on the sizing

Quality: Complaint on the red color, saying it's too light

Color: Compliment on the grey color

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Reviews for Grey Two X show up (SOLD OUT)
4.6/5 for rest of the colors (+6 new reviews)

Fit: Compliments on the fit

Quality: Complaints on sleeves being too short

Color: Compliments on the overall color

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Reviews for Grey Two X show up (SOLD OUT)
4.6/5 for rest of the colors (+4 new reviews)

Quality: One came with some threads coming undone

Color: Other than that, compliments on the colors.

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4.8/5 for Grey Two (+10 new reviews)

4.8/5 for rest of the colors (+ 5 new reviews)

Fit: There are still few complaints about sizing

Quality: Quality Compliments on its classic design and also its affordable price by promotion

Color: Compliments on the colors especially the Black

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Reviews for Grey Two X show up (SOLD OUT)

4.8/5 for rest of the colors (+ 11 new reviews)

Fit: Compliments on the fit

Quality: Compliments on its quality

Color: Compliments on its colors

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Reviews for Grey Two X show up (SOLD OUT)

4.8/5 for rest of the colors (+ 6 new reviews)

Colors: Compliments on the colors

Quality: Many of them said they would recommend the products to others because of its quality and price

no complains on the new reviews

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PRICE:

Original Price: $80
Selling Price: $80

*Selling Price for Grey: $68

(In addition, promotion code SEPTEMBER provides additional 30% off of this grey color - Members First Access)

STOCK: Sold out sizes are shaded in grey

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4.8 for Grey (+ 4 new reviews)

4.8/5 for rest of the colors (+ 3 new reviews)

Colors: None

Quality: Compliments on the quality

Fit: Few complains on the fit

Being too small and tight

Sleeves slightly long

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Week 7 - Oct. 18 : Adidas shares climb after boost from Yeezy sales, guidance raise

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Week 7 - Oct. 18 : Adidas shares climb after boost from Yeezy sales, guidance raise

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Overview:

The article discusses the rise in Adidas shares due to increased sales of their popular Yeezy sneakers and a positive adjustment in their financial guidance. Yeezy sales have significantly contributed to this boost, leading to a surge in the company's stock value. This positive trend is attributed to consumer demand for Yeezy products, highlighting their impact on Adidas' overall financial performance.

What I Learned:

From this article, I learned that Adidas experienced a notable increase in their stock prices, primarily because of the successful sales of Yeezy sneakers. The popularity of Yeezy products among consumers played a significant role in driving this growth. Additionally, the company's decision to raise their financial guidance indicates their confidence in sustaining this positive momentum. This demonstrates the importance of trendy and sought-after products in influencing not only a company's sales but also its stock market performance.

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Reviews for Grey Two X show up (SOLD OUT)

4.6/5 for rest of the colors (+ 5 new reviews)

Colors: Compliments on the colors

Quality: there was a comment that the material at the neck is more thicker than she/he thought

Fit: few complaints for tight sleeves

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There are four color options within the track jackets which are black, grey two, blue bird, and better scarlet. We chose black for our key item due to its significant popularity.

Out of 1,875 sales quantity; with 40% penetration, black color will take up to 750 pieces, 469 grey two color with 25% penetration%, 375 better scarlet color with 20% penetration%, and 281 blue bird color with 15% penetration%.

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The stock start off with 1,875 track jackets on week 1 and it closes with selling 1,313 pieces at week 24 with 70% sell through target.

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Based on 2021 and 2022 3rd and 4th quarter sales results, 2023 3rd and 4th quarter will face a flat performance and down to at least -1% due to company's conservative sell-in approach to reduce high inventory levels and cancellation of a highly anticipated Yeezy collaboration.

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2023 p&l is $70,000 which is 5% of gross margin

2022 p&l is $19,084 which is 1.7% of gross margin

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Based on what we researched from Statista, we found out that our sales per square ft would be $548 calculated from the size of the selling-space which is 2,555 sq ft.

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This section covers our September’s total carts rate, bounce rates, and order value rates. We predict online+offline rate as $126,000 and for online, $37,800. Our online sale accounts for 30% of sales channel and offline 70%.

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This statistic shows the sales per average gross square foot of Foot Locker worldwide from 2013 to 2022. In 2022, Foot Locker's sales per average gross square foot amounted to 548 U.S. dollars. This was the highest figure over the reported time period.

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Foot Locker: sales per average gross square foot worldwide 2022 | Statista

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This statistic shows the sales per average gross square foot of Foot Locker worldwide from 2013 to 2022.

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https://www.adidas-group.com/media/filer_public/14/e1/14e1ad13-da13-4fbe-a875-79c841dc2f2c/adidasag_q2_2023results_en_final.pdf

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80

*Selling Price for Grey: $68 (promotion code SEPTEMBER still applies for additional 30% off)

STOCK: Sold out sizes are shaded in grey

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 (Red, Blue, Black)

STOCK: Sold out sizes are shaded in grey

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 (Red, Blue, Black)

STOCK: Sold out sizes are shaded in grey

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Reviews for Grey Two X show up (SOLD OUT)

4.7/5 for rest of the colors (+1 new review)

Colors: compliment on color

Quality: comment about fabric transparency

Fit: Satisfied with size

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1. Adidas Adicolor Classics Firebird track jacket - red: Men’s lifestyle: Adidas us. adidas United States. (n.d.). https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IJ7060.html
2. Adidas Adicolor Classics Firebird track jacket - grey: Men’s lifestyle: Adidas us. adidas United States. (n.d.-a). https://www.adidas.com/us/adicolor-classics-firebird-track-jacket/IA6341.html

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PRICE:

⁽*Price same as Week 1)

Original Price: $80

*Selling Price for Grey: $68
*Selling Price for Red/Blue/Black: $64 (Discounts for members only)

STOCK: Sold out sizes are shaded in grey, Replenished sizes are shaded in yellow

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adidas Q2 Sales Down, As Canceled Yeezy Collaboration Continues To Affect Performance

Adidas is likely to have a flat Quarter 3 due to a drop in Q2 sales, mainly attributed to the cancellation of a major Yeezy collaboration. The absence of this anticipated partnership is expected to continue affecting consumer interest and sales, making the overall performance stagnant in the upcoming quarter.

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During a digital press conference in Germany on Thursday morning, presented its second-quarter financial results, reporting a decline in sales largely due to its canceled collaboration with Yeezy.

With currencies adjusted, the sportswear label earned €5.34 billion EUR in Q2, down from the €5.6 billion EUR that the company reported during the same period last year. The figure brought adidas' total revenues for the first half of 2023 to €10.62 billion EUR.

Per adidas' chief executive officer, Bjørn Gulden, these results are not a surprise. "We are happy with the way the second quarter developed. 2023 is not about trying to show short-term results," he said in a statement. He added that he did not expect the company to return to "good and profitable" until 2025.

Notably, Yeezy sales only attributed to 1% of adidas' growth in the second quarter. The company canceled its collaboration with Ye after he made a slew of "hateful and dangerous" comments in October of last year. The partnership's ending caused adidas' sales to fall considerably, with analysts suggesting the collaboration could have made adidas up to €1.5 billion EUR.

"We have inherited a situation that was very unfortunate," Gulden said in a statement. "I think the Yeezy business and the [Nike] Jordan business were the only two collabs in the world that were creating these kind of premiums over a longer period. Our task now is to limit the damage, get rid of the inventory, use the proceeds for good and lead the business without Yeezy."

The company ultimately opted to sell its remaining Yeezy products in May of this year, donating a percentage of proceeds to organizations battling anti-Semitism. The majority of the drop sold at full price, raking in an additional €400 million EUR in the second quarter.

In light of the additional sales, adidas' full-year expectations shifted. Before, the company expected an operation loss of approximately €700 million EUR; now, that figure has dropped to roughly €450 million EUR. The outcome will depend on the success of its second Yeezy drop, which kicked off on August 2 and includes 10 different models.

As expected, adidas saw a decline in North America, with sales down 16% to €1.4 billion EUR in Q2 of 2023. If the Yeezy sale had not happened, that figure would have been down 20%. adidas was also affected by discounting, like its competitors, which was in part due to both surplus and insufficient supply. Per Gulden, the company looks to see positive growth in North America in the second half of 2024.

In Latin America and Asia Pacific, however, adidas earned increases in sales of 30% and 7%, respectively. The company also reported a 16% increase in sales in Greater China, where adidas plans to invest further in performance sports.

See adidas' full Q2 2023 financial report here.

Elsewhere, Born X Raised unveiled a mid-season capsule with the Los Angeles Dodgers.

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adidas Q2 Sales Down, As Canceled Yeezy Collaboration Continues To Affect Performance

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adidas Q2 Sales Down, As Canceled Yeezy Collaboration Continues To Affect Performance: The company does expect to return to a profitable standing until 2025.

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Week 8 - Oct. 23 : Michael Penix Jr. And Rome Odunze Secure NIL Deals With Adidas, Become The Company's First NIL Football Athletes 

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Week 8 - Oct. 23 : Michael Penix Jr. And Rome Odunze Secure NIL Deals With Adidas, Become The Company's First NIL Football Athletes 

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Overview:

This article talks about that Adidas is making its first bet on the soccer talent in the NCAA "National Collegiate Athletic Association". According to a press statement, the sportswear company has acquired wide receiver Rome Odunze and quarterback Michael Penix Jr., both of the Washington Huskies, as its first NIL football players. The young talents will appear in Adidas campaigns as current signees.

What I Learned:

As I read the article, I could see how Adidas is expanding their brand. They are expected to provide better brand awareness to younger generation targets by sponsoring young NCAA players & collaborating with them, and further secure a wider customer target base.

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per ESPN. "I'm excited about this unique opportunity to help further the brand and I'm appreciative of their investment in my university, my teammates, and myself. adidas has shown that they're committed to student-athletes across the country and I'm thankful to be a part of their commitment."

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Michael Penix Jr. And Rome Odunze Secure NIL Deals With Adidas, Become The Company's First NIL Football Athletes - AfroTech

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Adidas is betting on National Collegiate Athletic Association (NCAA) football talent for the first time.

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Week 9 - Oct. 31 : Arsenal and Manchester United kits set for major change from adidas for 2024/25 season

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Week 9 - Oct. 31 : Arsenal and Manchester United kits set for major change from adidas for 2024/25 season

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Overview:

Adidas is focussing on revitalizing its history, as seen by the trefoil emblem appearing on some of the most storied football uniforms. Although the trefoil insignia is usually used for lifestyle apparel, it is hoped that it would add more variety to the brand's football uniforms. Consequently, the vintage logo will appear on Arsenal and Manchester United's third shirts instead of the adidas lettering.

What I Learned:

Adidas are moving to focus on reviving their heritage with the trefoil logo featuring on some of football's most legendary kits. As I read the article, I could learn how the business is now focusing on their sports businesses to improve their brand recognition and ensure their expanding.

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Arsenal and Manchester United's kits are set for a major change next term as adidas prepare to change their logo.
The leading sports manufacturer will reintroduce its trefoil logo for the 2024/2025 third kits instead of the current logo.

adidas are moving to focus on reviving their heritage with the trefoil logo featuring on some of football's most legendary kits.

The logo was originally used by adidas in the 1970s and 1980s but has featured in their retro jersey pop-up at Paris Fashion Week and their adidas Originals campaign featuring Zinedine Zidane and David Beckham in October.

While the trefoil logo is typically intended for lifestyle clothing, the hope is that it could bring more diversity to the brand's football kits.

As a result, Arsenal and Man United's third kits will feature the retro logo, something that will run without the adidas text.

MORE ON PREMIER LEAGUE

This season, the Gunner's third kit is turqoise-green in colour with a navy blue trim and the original adidas emblem alongside the club's emblem.

As for Man United, their third strip is white with a red trim with the adidas emblem and team emblem sitting above the Team Viewer sponsor across the middle of the shirt.

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Arsenal and Man United kits set for major change from adidas for 24/25 season

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Arsenal and Manchester United's kits are set for a major change next term as adidas prepare to change their logo. The leading sports manufacturer will reintroduce its trefoil logo for the 202...

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Week 10 - Nov. 06: ADIDAS ORIGINALS AND EDISON CHEN ANNOUNCE GLOBAL PARTNERSHIP

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Week 10 - Nov. 06: ADIDAS ORIGINALS AND EDISON CHEN ANNOUNCE GLOBAL PARTNERSHIP

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Overview:

Adidas Originals and Edison Chen have revealed a global partnership. Edison Chen, who is the Founder and Creative Director of the lifestyle brand CLOT, celebrating its 20th anniversary, will bring his innovative vision and creative expertise to introduce exclusive collaborative styles. The collaboration is aimed at promoting cultural exchange between the East and West and challenging traditional norms with thought-provoking designs. This partnership underscores the global credibility of both parties in the realms of fashion, music, and retail, serving as a driving force for cultural connections on a global scale.

What I Learned:

This partnership, using his innovative vision and creative skills to create exclusive collaborative styles by drawing from Adidas' extensive history and archives, will contribute to diversifying Adidas' portfolio. The partnership intends to promote cultural exchange between the East and West, involve unconventional designs, and serve as a catalyst for global cultural connections in the worlds of fashion, music, and retail.

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adidas Originals and Edison Chen Announce Global Partnership

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Inaugural Collection Revealed at the CLOT SS24 Fashion Show during Shanghai Fashion Week adidas Originals and Edison Chen announce their global partnership, adidas Originals by Edison Chen, as Chen ma

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Week 11 - Nov.13th:  IRIS LAW DEBUTS FIRST-EVER ADIDAS BY STELLA MCCARTNEY SKI COLLECTION, IN COLLABORATION WITH TERREX

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Week 11 - Nov.13th:  IRIS LAW DEBUTS FIRST-EVER ADIDAS BY STELLA MCCARTNEY SKI COLLECTION, IN COLLABORATION WITH TERREX

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Overview:

This article talks about Stella McCartney and Adidas will present their first-ever ski collection for Fall/Winter 2023. Introducing clothing, footwear, and accessories that elevate high-performance athletics and premium style to new levels for the slopes and beyond. Adidas is aiming to help eradicate plastic waste, and as part of this effort, essential items in the collection—which explores new possibilities for performance wear—have been constructed using at least 85% recycled materials.

What I Learned:

Adidas kept expanding their sustainability approaches by collaborating with many other brands that are know for sustainability.

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Iris Law Debuts First-Ever adidas by Stella Mccartney Ski Collection, in Collaboration with Terrex

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Today, adidas by Stella McCartney and TERREX come together to unveil their debut ski collection for Fall/Winter 2023. Taking high-performance sportswear and luxury design to new heights with apparel,

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Adidas is expanding its presence in China's burgeoning fitness sector through a partnership with Les Mills, aiming to tap into the growing fitness consciousness of young Chinese individuals. The collaboration involves the launch of fitness classes, both online and offline, with specialized exercise gear designed by Adidas. Despite the challenges of Covid-19, China's fitness industry saw significant growth, reaching CNY 211.6 billion in 2021. Adidas, under the leadership of Adrian Siu, who returned in March 2022, has actively invested in sports events, with sponsored athletes achieving success at the Asian Games 2023. Additionally, the company is collaborating with Regina Miracle Intimate Apparel to create sports garments tailored to the unique needs of Chinese women, leveraging the manufacturing prowess of Chinese firms. Following eight consecutive quarters of decline, Adidas China returned to growth in Q2, with revenue reaching EUR 2.6 billion in the first three quarters, marking a 2.5% YoY increase and a 10% YoY jump in Q3 when excluding losses from the Yeezy partnership.

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(Yicai) Nov. 27 -- Adidas believes that China's keep-fit sector has huge room for growth and the German sportswear giant is expanding its footprint in the sector through a tie-up with New Zealand group workout company Les Mills, the managing director of Adidas China told Yicai recently.

Young people in China like to work out together, Adrian Siu said. China's fitness industry is an important sector for the Herzogenaurach-based company as people in the country become more fitness conscious.

Adidas and Les Mills are rolling out a series of fitness classes that will be taught online and in brick-and-mortar venues, said Siu. Adidas will design the exercise gear specifically needed for these lessons. The two parties, who teamed up in February. recently held an event in Suzhou showcasing their workout programs.

China's fitness industry was worth CNY214.5 billion (USD30 billion) last year despite the impact of Covid-19. And it swelled 38.5 percent in 2021 from 2015 to CNY211.6 billion (USD21.6 billion).

Adidas has put a lot of energy, time and resources into sports events this year, said Siu, who returned to take the helm of Adidas China in March 2022 after a six-year hiatus. Many of the athletes it sponsored did well at the Asian Games 2023 in Hangzhou in September. For instance, Xie Zhenye won the gold medal for the men's 100 meters and Liu Qingqi won gold for street dance.

Adidas is also linking arms with Chinese underwear and shapewear firm Regina Miracle Intimate Apparel to develop sports garments that will meet the unique needs of Chinese women, Siu said.

Chinese manufacturers are world-class in terms of production speed and fabric innovations, Siu said. Chinese consumers are becoming increasingly demanding and if they endorse a product, then we know that they will do well in overseas markets.

Adidas China returned to growth in the second quarter, after tumbling for eight quarters in a row. And in the first three quarters, revenue climbed 2.5 percent year on year to EUR2.6 billion (USD2.8 billion). If the losses from its tie-up with US rapper Yeezy are deducted, revenue jumped 10 percent year on year in the third quarter.

Editors: Liao Shumin, Kim Taylor

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China's Fitness Sector Has Great Potential, Adidas China MD Says

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(Yicai) Nov. 27 -- Adidas believes that China's keep-fit sector has huge room for growth and the German sportswear giant is expanding its footprint in the sector through a tie-up with New Zealand group workout company Les Mills, the managing director of Adidas China told Yicai recently.

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Current Adidas (Yeezys specific)

Adidas Second Quarter Revenues:

- Revenues remained flat compared to the previous year.

- This indicates stable sales performance in the specified period.

Adidas Yeezys Focus:

- Yeezys, a popular line of sneakers, is a significant contributor to Adidas's revenue.

- Despite overall flat revenues, Yeezys might have performed well, contributing positively to the brand's sales.

Gross Margin and Operating Profit Exceed Expectations:

- Despite flat revenues, Adidas exceeded expectations in terms of gross margin.

- Operating profit also outperformed forecasts, indicating efficient cost management and operational strategies.

Yeezys' Impact on Profitability:

- Yeezys' strong performance likely played a role in achieving better-than-expected profits.

- The profitability of the Yeezy line might have compensated for other areas where revenue growth was stagnant.

Market Response and Future Outlook:

- Investors and market analysts might view the Yeezys' performance favorably, considering the overall positive impact on margins and profits.

- The strong performance of Yeezys suggests a robust market demand for this specific product, which could be leveraged in future marketing strategies.

Implications for Adidas Strategy:

- The success of Yeezys emphasizes the importance of understanding and catering to specific consumer preferences.

- Adidas might consider expanding or diversifying its Yeezy product line to capitalize on its popularity and boost overall revenues.

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Currency-neutral revenues flat versus the prior-year level

Top-line development reflects improved sell-out trends and conservative sell-in strategy

Gross margin up 0.6pp to 50.9%; strong improvement compared to Q1 reflecting better sell-through and less discounting

Operating profit of € 176 million includes extraordinary expenses of around € 160 million related to one-off costs, donations and accruals for future donations

Inventory position improves substantially versus Q1 level to € 5.5 billion; now up only 1% year-over-year

adidas CEO Bjørn Gulden:
"We are happy with the way the second quarter developed. The core adidas business was slightly better than we expected. Although we still have too much slow-moving inventory in the market, sell-through has been improving. We also saw gross margin in our core business improving strongly compared to the first quarter. The operating profit of € 176 million was substantially higher than our initial plans. The sale of the first part of the Yeezy inventory did of course help both our top and bottom line in the quarter.

The market is still very volatile, and we continue to see a lot of uncertainty for the rest of the year. As there is still a lot of inventory in the market, retailers are very cautious in their pre-orders.

We believe that when we start to see larger volumes of our hot sellers in the Terrace area like Samba and Gazelle hitting the markets, we will continue to see adidas brand heat improving. This will support the sell-through of all adidas products in the market.

Our story is the same as we said at the beginning of the year: We are using 2023 to clean inventories, work on future products, improve the way we work, build better partnerships, and lay the foundation for a better 2024 and a good and profitable adidas in 2025 and 2026. 2023 is not about trying to show short-term results.

We will continue to carefully sell off more of the existing Yeezy inventory. This is much better than destroying and writing off the inventory and allows us to make substantial donations to organizations like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change and Robert Kraft's Foundation to Combat Antisemitism. And it is of course also helping both our cash flow and general financial strength."

Second quarter 2023
Currency-neutral revenues on prior-year level
In the second quarter of 2023, currency-neutral revenues were flat versus the prior-year level. The top-line development continued to be impacted by the company's conservative sell-in approach in order to reduce high inventory levels, particularly in North America and Greater China. At the same time, adidas second quarter revenues benefited from the first sale of some of its Yeezy inventory. The initial product drop in June generated revenues of around € 400 million in Q2, which is largely in line with the Yeezy sales generated in the prior year's quarter.

Footwear revenues grew 1% during the quarter, reflecting strong growth in football, basketball, tennis and US sports. Apparel sales declined 3% in the second quarter. As the apparel market continues to be particularly overstocked, the company continued its conservative sell-in strategy to improve sell-through and margins in the medium term. Accessories grew 8% during the quarter driven by growth in football.

Lifestyle revenues were down during the quarter despite extraordinary demand for the company's Samba, Gazelle and Campus franchises. While adidas slowly started to scale its offering for these product families during the second quarter, the total volume still only represents a small portion of the company's overall business. Sales in the adidas Performance categories continued to show positive momentum. This reflects strong demand for new product introductions such as the latest iterations of its Predator, X and Copa football boots, as well as jerseys for both the FIFA Women's World Cup 2023 and the company's unique portfolio of football teams ahead of the start of the European club season. In addition, the Adizero product family in running continued to gain a lot of attention around marathon races across the world, translating into higher demand. At the same time, the brand's Barricade tennis franchise grew strongly, leveraging the excitement around major tournaments.

In euro terms, the company's revenues declined 5% to € 5.343 billion in the second quarter (2022: € 5.596 billion).
Stronger sell-out trends and conservative sell-in
As a result of the company's initiatives to reduce high inventory levels, currency-neutral sales in wholesale declined 10% despite double-digit growth in Greater China and Latin America. At the same time, direct-to-consumer (DTC) revenues grew 16% versus the prior year. This development was driven by strong growth in both the company's e-commerce business (+14%) as well as own retail stores (+19%), reflecting continued strong sell-out trends across most regions. The outperformance of the company's DTC channel versus the wholesale business was also related to the first sale of the Yeezy inventory, which was done exclusively through adidas' own e-commerce channel.
Double-digit growth in Greater China and Latin America
Currency-neutral sales in North America declined 16% during the quarter. The region is particularly affected by elevated inventory levels in the market and - in response to this - the company's significantly reduced sell-in. Revenues in Greater China grew 16% in Q2, reflecting double-digit sell-out growth in both wholesale and own retail. Sales in EMEA were down slightly (-1%) despite double-digit DTC growth. While the company's initiatives to reduce inventory levels and discounting weighed on the overall top-line development in the region, adidas recorded significantly improving full-price trends during the quarter. Revenues in Asia-Pacific increased 7% during the quarter, driven by strong double-digit growth in DTC. Latin America continued to increase at a double-digit rate (+30%), reflecting strong growth in both wholesale and DTC.
Gross margin improves to 50.9%
The company's second quarter gross margin increased 0.6 percentage points to 50.9% (2022: 50.3%). This improvement was mainly driven by price increases the company has implemented as well as by an improved channel mix. At the same time, higher supply chain costs and unfavorable currency movements continued to strongly weigh on the gross margin development. While still adversely impacting the company's gross margin in the quarter, discounting levels significantly improved compared to the first quarter of the year.
Operating profit of € 176 million, resulting in an operating margin of 3.3%
Other operating expenses were up 3% to € 2.582 billion (2022: € 2.501 billion). As a percentage of sales, other operating expenses increased 3.6 percentage points to 48.3% (2022: 44.7%). Marketing and point-of-sale expenses decreased 7% to € 617 million (2022: € 663 million). As a percentage of sales, marketing and point-of-sale expenses slightly decreased by 0.3 percentage points to 11.5% (2022: 11.8%). Operating overhead expenses were up 7% to € 1.965 billion (2022: € 1.838 billion), reflecting higher logistics expenses. In addition, the company recorded one-off costs of around € 50 million related to the strategic review the company is currently conducting as well as donations and accruals for further donations in an amount of around € 110 million. As a percentage of sales, operating overhead expenses increased 3.9 percentage points to 36.8% (2022: 32.8%). The company's operating profit amounted to € 176 million (2022: € 392 million) in the quarter. This amount includes the extraordinary expenses of in total around € 160 million reflecting the one-off costs related to the strategic review as well as the donations and accruals for further donations. The sale of the Yeezy product positively impacted adidas' operating profit by an incremental amount of around € 150 million in Q2. The operating margin reached 3.3% in the quarter (2022: 7.0%).
Net income from continuing operations of € 96 million
After taxes, the company's net income from continuing operations amounted to € 96 million (2022: € 360 million), while basic EPS from continuing operations decreased to € 0.48 (2022: € 1.88).

First half year
Currency-neutral revenues on prior-year level in the first half of 2023
In the first half of 2023, currency-neutral revenues were flat versus the prior-year period. In euro terms, revenues decreased 3% to € 10.617 billion in the first six months of 2023 (2022:
€ 10.897 billion). While sell-out trends improved throughout the period, the company continued with its conservative sell-in strategy. The discontinuation of the regular Yeezy business represented a drag of around € 400 million on the year-over-year comparison during the first half of the year. The first sale of some of the company's remaining Yeezy inventory positively impacted net sales in the amount of around € 400 million in the second quarter of 2023, which was largely in line with the prior year's quarter. At the same time, however, there were no Yeezy revenues in the first quarter of 2023, while the company had generated around € 400 million of Yeezy sales in Q1 2022. As a result, the company's Yeezy revenues reached around € 400 million in H1 2023 compared to a total of around € 800 million in the prior year period.

The company's gross margin declined 2.3 percentage points to 47.9% (2022: 50.1%) during the first half of the year. The development improved significantly between the first and the second quarter, partly driven by better sell-through and improving discounting levels. Higher supply chain costs, negative currency developments, higher inventory allowances, as well as the promotional activity weighed on the gross margin development during the six-month period. At the same time, price increases benefited the gross margin in H1. Other operating expenses increased 4% to € 4.949 billion (2022: € 4.759 billion) in the first half of the year. During this period, the company recorded one-off costs of around € 70 million related to the strategic review the company is currently conducting as well as donations and accruals for further donations in an amount of around € 110 million. As a percentage of sales, other operating expenses were up 2.9 percentage points to 46.6% (2022: 43.7%). adidas generated an operating profit of € 236 million (2022: € 828 million) during the first six months of the year. The initial sale of the Yeezy product in Q2 positively impacted adidas' operating profit by an incremental amount of around € 150 million during the first half of the year. At the same time, the company's operating profit includes extraordinary expenses of in total around € 180 million reflecting the one-off costs related to the strategic review as well as the donations and accruals for further donations. The operating margin reached 2.2% (2022: 7.6%) in H1. Net income from continuing operations was € 73 million (2022: € 671 million). Basic and diluted earnings per share from continuing operations declined to € 0.29 (2022: € 3.47).
Inventories nearly at prior-year level, operating working capital increases
Inventories continued to improve substantially during the second quarter. Year-over-year, inventories were up only 1% to € 5.540 billion (2022: € 5.483 billion). On a currency-neutral basis, inventories grew 6% compared to the prior year. Inventory units were down 11% compared to the prior year, reflecting the strong progress the company has made in improving its inventory position. During the first six months of the year, the company's inventory level declined by more than € 400 million as a result of adidas' initiatives around inventory management, including significantly reducing buying volumes and tactically repurposing existing inventory. Operating working capital was up 14% to € 5.896 billion (2022: € 5.191 billion). On a currency-neutral basis, operating working capital grew 22%. Average operating working capital as a percentage of sales increased to 27.1% (2022: 21.0%). This development reflects a significant decrease of receivables as a result of the company's conservative sell-in approach as well as a strong double-digit decrease in payables due to lower sourcing volumes in line with the company's activities to reduce elevated inventory levels.
Adjusted net borrowings of € 6.039 billion
Adjusted net borrowings at June 30, 2023, amounted to € 6.039 billion (June 30, 2022: € 4.673 billion), representing a year-over-year increase of 29%. The decline in lease liabilities was more than offset by a significant increase in short- and long-term borrowings as well as a decrease in cash and cash equivalents.

Outlook
adidas expects revenues to decline at a mid-single-digit rate
On July 24, adidas had adjusted its full year financial guidance to reflect the positive impact of the first sale of some of its Yeezy inventory and a slightly better-than-expected development of the adidas business in the first half of the year. At the same time, macroeconomic challenges and geopolitical tensions persist. Elevated recession risks in North America and Europe as well as uncertainty around the recovery in Greater China continue to exist. In addition, the company's revenue development will continue to be impacted by the initiatives to significantly reduce high inventory levels. As a result, adidas now expects currency-neutral revenues to decline at a mid-single-digit rate in 2023 (previously: decline at a high-single-digit rate).
Underlying operating profit anticipated to be around the break-even level
The company's underlying operating profit - excluding any one-offs related to Yeezy and the ongoing strategic review - is still anticipated to be around the break-even level. Including the positive impact from the first Yeezy drop of around € 150 million, the potential write-off of the remaining Yeezy inventory of now € 400 million (previously: € 500 million) and one-off costs related to the strategic review of up to € 200 million (unchanged), the company now expects to report an operating loss of € 450 million in 2023 (previously: loss of € 700 million).

On August 2, the company launched a second drop of Yeezy inventory. Throughout the month of August, adidas is making a range of existing products available through both its own e-commerce channel as well as the digital platforms of selected wholesale partners. If successful, this second drop would further improve the company's results. However, as the results of this drop are yet unknown, it is not accounted for in the company's current top- and bottom-line outlook for 2023.

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adidas - adidas reports second quarter revenues flat versus the prior year; gross margin and operating profit better than expected

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adidas' Corporate Website features all information about the latest adidas news, investor relations updates, our sustainability approach, and careers at adidas. Through sport, we have the power to change lives.

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Current Adidas (Yeezys specific)

3rd Quarter Currency-neutral revenues:

increased 1% during the third quarter of 2023. The top-line development reflects adidas’ conservative sell-in approach aimed at reducing high inventory levels, improved sell-through as well as the company’s focus on full-price sales across its own channels.

2023 First 9 months Gross margin:

declined 1.4 percentage points to 48.4% (2022: 49.7%)

Conservative sell-in strategy:

paying off as inventory position improves substantially versus Q2 level to € 4.8 billion; now down 23% year-over-year

Outlook: adidas expects revenues to decline at a low-single-digit rate

Adidas had adjusted its full year financial guidance to reflect both the positive impact of the second drop of some of its Yeezy inventory and the better-than-expected development of the underlying business

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Major developments:

Currency-neutral revenues up 1% driven by growth in all regions except North America

Top-line development reflects focus on conservative sell-in and full-price business

Gross margin up 0.2pp to 49.3% driven by reduced freight costs, a more favorable business mix, and lower inventory allowances; discounting levels continue to improve

Operating profit of € 409 million includes extraordinary expenses of around € 110 million

Conservative sell-in strategy paying off as inventory position improves substantially versus Q2 level to € 4.8 billion; now down 23% year-over-year

adidas CEO Bjørn Gulden:

"Q3 was another quarter where we saw progress and where the results were better than expected. The heat around our Terrace range (Samba, Gazelle, Spezial) and other models like Campus is creating new growth in our Lifestyle business again. We have scaled up supply but are far from covering the total current demand. The halo effect of these successful models, together with the new Originals campaign that we launched in September, has increased our brand heat in all parts of the world. We see the interest in our brand and products increasing in all markets and are now experiencing a visibly higher interest from retailers for the sell-in for our Fall/Winter 2024 range.

Our own inventory levels are down 23%, which is even a little more than we planned. Inventory levels in the markets with our retail partners are also improving, although at a slower pace. Especially the inventory levels in the US market will continue to impact our business for a while.

We see good improvement also in our Performance products, especially in football and running, but now also in basketball and US sports. The success of our Adizero Adios Pro Evo 1 shoe with Tigist Assefa's marathon world record in Berlin is an example of our new focus on bringing innovation to the market fast. The launch of the first signature shoe of Anthony Edwards (AE1) and the Fear of God product that is arriving in the US market in Q4 gives us also a more optimistic outlook for our basketball business.

We do of course know that our current performance is not good enough, but we have said from the beginning that we need time to build this fantastic brand and company back to where it belongs: At the top as the best sports brand in the world.

I feel we are improving every day. The teams are showing the right attitude, we are constantly speeding up our decision processes and we are making the progress I expected. We need time to get enough of the right products into the markets and make the good products more visible for our consumers. We feel strong interest and support from our retailers to build this together. Our focus in our DTC business is clearly to give less discounts, increase the full-price share and balance brand building with commercial success. We have also started to see good progress in this area.

In Q4, we will continue to focus on our priorities and lay the foundation for an improving 2024 and a successful 2025 and 2026. This year, we improved our outlook every quarter and are now looking at currency-neutral revenues to be down only low single digits (started the year with down high single digits) and a small operating loss of € 100 million, including a possible € 300 million write-off of the remaining Yeezy inventory and one-off costs of € 200 million related to the strategic review. We started the year with a negative outlook of an operating loss of € 700 million."

Third quarter 2023

Currency-neutral revenues up 1%

Currency-neutral revenues increased 1% during the third quarter of 2023. The top-line development reflects adidas' conservative sell-in approach aimed at reducing high inventory levels, improved sell-through as well as the company's focus on full-price sales across its own channels. adidas third quarter revenues were also impacted by the sale of parts of its remaining Yeezy inventory. The second product drop generated revenues of around € 350 million in Q3, which is somewhat below the Yeezy sales generated in the prior year's quarter. As a result, excluding the Yeezy revenues in both years, currency-neutral revenues increased 2% during the quarter.

Footwear revenues grew 6% during the quarter on a currency-neutral basis, reflecting double-digit growth in adidas Originals as well as in the football and basketball categories. Apparel sales declined 6% in the third quarter. Revenues in the company's outdoor and basketball categories grew at strong double-digit rates. Apparel sales in the football category were down due to last year's strong sell-in prior to the FIFA World Cup. In addition, the company continued its conservative sell-in strategy as the apparel market faced particularly high inventory levels. Accessories revenues were down 3% during the quarter.

Currency-neutral sales in adidas Lifestyle categories increased during the quarter as extraordinary demand for the company's Samba, Gazelle, Spezial and Campus franchises led to a return to growth in adidas Originals. The company's Performance categories continued to experience strong momentum for many of its new product introductions such as the latest iterations of its Predator, X and Copa football boots as well as the next generation of the Terrex Free Hiker outdoor shoes. In running, the introduction of the Adizero Adios Pro EVO 1 led to record-breaking performances at marathon races. In addition, it continued to generate a lot of attention and strong demand for the entire Adizero product family. This excitement translated into strong double-digit growth for the franchise during the quarter.

In euro terms, the company's revenues declined 6% to € 5.999 billion in the third quarter (2022: € 6.408 billion).

Conservative sell-in and focus on full-price business

As a result of the company's initiatives to reduce high inventory levels, currency-neutral sales in wholesale declined 2% despite double-digit growth in Greater China and Latin America. At the same time, direct-to-consumer (DTC) revenues grew 5% versus the prior year. This development was driven by strong growth in adidas' own retail stores (+10%), reflecting continued strong sell-out trends. The adidas e-commerce business also continued to grow in the quarter (+1%). The company successfully focused on reducing discounting activity and improving the overall business mix. As a result, full-price sales generated through the company's own e-commerce platform increased at strong double-digit rates, leading to strong improvements in the full-price share across all markets.

Growth in all markets except North America

Currency-neutral sales in North America declined 9% during the quarter (-10% excluding Yeezy revenues in both years). The region is particularly affected by elevated inventory levels in the market and - in response to this - the company's significantly reduced sell-in. As a result, wholesale revenues were down double digits in the region, whereas DTC sales increased versus the prior-year level. Revenues in Greater China grew 6% in Q3 (+10% excluding Yeezy), driven by double-digit growth in wholesale. Sales in EMEA increased 2% (+2% excluding Yeezy), reflecting high-single-digit growth across the company's own distribution channels. Revenues in Asia-Pacific increased 7% during the quarter (+5% excluding Yeezy). Strong double-digit DTC growth reflects the strong sell-out trend adidas is enjoying in the region. Latin America continued to increase at a double-digit rate (+13%, +12% excluding Yeezy), reflecting strong growth in both wholesale and DTC.

Gross margin improves to 49.3%

The company's third quarter gross margin increased 0.2 percentage points to 49.3% (2022: 49.1%). This improvement was mainly driven by reduced freight costs, a more favorable business mix, as well as lower inventory allowances. Unfavorable currency movements strongly weighed on the gross margin development during the quarter. Discounting levels improved significantly compared to the first half and second quarter of the year.

Operating profit of € 409 million, resulting in an operating margin of 6.8%

Other operating expenses were down 4% to € 2.570 billion (2022: € 2.676 billion). As a percentage of sales, other operating expenses increased 1.1 percentage points to 42.8% (2022: 41.8%). Marketing and point-of-sale expenses decreased 7% to € 644 million (2022: € 691 million). As a percentage of sales, marketing and point-of-sale expenses slightly decreased to 10.7% (2022: 10.8%). Operating overhead expenses declined 3% to € 1.926 billion (2022: € 1.985 billion). During the quarter, the company recorded one-off costs of around € 80 million related to the strategic review the company is currently conducting as well as donations and accruals for further donations in an amount of around € 30 million. As a percentage of sales, operating overhead expenses increased 1.1 percentage points to 32.1% (2022: 31.0%). The company's operating profit amounted to € 409 million (2022: € 564 million) in the quarter. This amount includes the extraordinary expenses of in total around € 110 million reflecting the one-off costs related to the strategic review as well as the donations and accruals for further donations. The sale of the Yeezy product positively impacted adidas' operating profit by an incremental amount of around € 150 million in Q3. The operating margin reached 6.8% in the quarter (2022: 8.8%).
Net income from continuing operations of € 270 million
After taxes, the company's net income from continuing operations increased significantly to € 270 million (2022: € 66 million), while basic EPS from continuing operations improved to € 1.40 (2022: € 0.34)

First nine months 2023

Currency-neutral revenues on prior-year level in the first nine months of 2023

In the first nine months of 2023, currency-neutral revenues were flat versus the prior-year period. In euro terms, revenues decreased 4% to € 16.616 billion in the first nine months of 2023 (2022: € 17.306 billion). While sell-out trends were positive throughout the period, the company continued to focus on its conservative sell-in strategy in wholesale and on increasing the full-price sell-out in its own channels. The discontinuation of the regular Yeezy business represented a drag of nearly € 450 million on the year-over-year comparison during the first nine months of the year. The two Yeezy drops in the second and the third quarter positively impacted net sales in the amount of around € 750 million, which was somewhat below the prior year's quarters. In addition, there were no Yeezy revenues in the first quarter of 2023, while the company had generated around € 400 million of Yeezy sales in Q1 2022. As a result, the company's Yeezy revenues reached around € 750 million in the first nine months of 2023 compared to a total of around € 1.2 billion in the prior-year period. As a result, excluding the Yeezy revenues in both years, currency-neutral revenues were up 3% during the first nine months of 2023.

The company's gross margin declined 1.4 percentage points to 48.4% (2022: 49.7%) during the first nine months of the year. Negative currency developments strongly weighed on the gross margin development during the period. In addition, while improving as the year progressed, the promotional activity also negatively impacted the gross margin development. These negative effects could only be partly offset by a more favorable business mix. Other operating expenses increased 1% to € 7.519 billion (2022: € 7.435 billion) in the first nine months of the year. During this period, the company recorded one-off costs of around € 150 million related to the strategic review the company is currently conducting as well as donations and accruals for further donations in an amount of around € 140 million. As a percentage of sales, other operating expenses were up 2.3 percentage points to 45.3% (2022: 43.0%). adidas generated an operating profit of € 646 million (2022: € 1.393 billion) during the first nine months of the year. The two Yeezy drops in Q2 and Q3 positively impacted adidas' operating profit by an incremental amount of around € 300 million during the first nine months of the year. At the same time, the company's operating profit includes extraordinary expenses of in total around € 290 million reflecting the one-off costs related to the strategic review as well as the donations and accruals for further donations. The operating margin reached 3.9% (2022: 8.0%). Net income from continuing operations was € 343 million (2022: € 736 million). Basic and diluted earnings per share from continuing operations declined to € 1.69 (2022: € 3.83).

Inventories improve strongly, operating working capital declines

adidas' initiatives around inventory management, including significantly reducing buying volumes and tactically repurposing existing inventory, are paying off. Inventories continued to improve strongly during the third quarter. Year-over-year, inventories are now down 23% to € 4.849 billion (2022: € 6.315 billion). On a currency-neutral basis, inventories declined 19% compared to the prior year. During the first nine months of the year, the company's inventory level declined by more than € 1.1 billion. Operating working capital declined 10% to € 5.557 billion (2022: € 6.201 billion) compared to the prior year. On a currency-neutral basis, operating working capital decreased 4%. In addition to the strong inventory decline, this development reflects a significant decrease of receivables as a result of the company's conservative sell-in approach as well as a strong double-digit decrease in payables due to lower sourcing volumes in line with the company's activities to reduce elevated inventory levels. Average operating working capital as a percentage of sales increased to 26.9% (2022: 22.2%).

Adjusted net borrowings decline to € 5.235 billion

Adjusted net borrowings at September 30, 2023, amounted to € 5.235 billion (September 30, 2022: € 5.510 billion), representing a year-over-year decline of 5%. This development mainly reflects a decline in lease liabilities as well as an increase in cash and cash equivalents. Compared to the 2022 year-end level, adjusted net borrowings declined by more than € 800 million.

Outlook
adidas expects revenues to decline at a low-single-digit rate
On October 17, adidas had adjusted its full year financial guidance to reflect both the positive impact of the second drop of some of its Yeezy inventory and the better-than-expected development of the underlying business. At the same time, macroeconomic challenges and geopolitical tensions persist. Elevated recession risks in North America and Europe as well as uncertainty around the recovery in Greater China continue to exist. In addition, the company's revenue development will continue to be impacted by the initiatives to significantly reduce high inventory levels in North America and the company's focus on full-price sales across its own channels. As a result, adidas now expects currency-neutral revenues to decline at a low-single-digit rate in 2023 (previously: decline at a mid-single-digit rate).
Underlying operating profit anticipated to reach a level of around € 100 million
The company's underlying operating profit - excluding any one-offs related to Yeezy and the ongoing strategic review - is now anticipated to reach a level of around € 100 million in 2023 (previously: around break-even level). Including the positive impact from the two Yeezy drops in Q2 and Q3 of around € 300 million (previously: € 150 million), the potential write-off of the remaining Yeezy inventory of now around € 300 million (previously: € 400 million) and one-off costs related to the strategic review of up to € 200 million (unchanged), adidas now expects a r eported operating loss of around € 100 million in 2023 (previously: loss of € 450 million).

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adidas - adidas reports revenue increase in the third quarter, underlying business developing better than expected

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adidas' Corporate Website features all information about the latest adidas news, investor relations updates, our sustainability approach, and careers at adidas. Through sport, we have the power to change lives.

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1. Adidas in Q2, 2022. (n.d.). Retrieved from https://www.adidas-group.com/en/media/news-archive/press-releases/2022/adidas-strong-growth-western-markets-q2/
2. Adidas reports second quarter revenues in 2023. (n.d.). Retrieved from https://www.adidas-group.com/en/media/news-archive/press-releases/2023/adidas-reports-second-quarter-revenues-flat-versus-the-prior-yea/
3. Adidas annual report 2022. (n.d.-a). Retrieved from https://report.adidas-group.com/2022/en/group-management-report-financial-review/business-performance/income-statement.html
4. Adidas reports revenues in the first quarter 2023. (n.d.-b) Retrieved from https://www.adidas-group.com/en/media/news-archive/press-releases/2023/adidas-reports-revenues-on-prior-year-level-in-the-first-quarter/
5. Euronews. (2023, August 3). Yeezy fervour: Adidas to earmark part of €400 million revenue to anti-hate groups. Euronews. https://www.euronews.com/2023/08/03/yeezy-fervour-adidas-to-earmark-part-of-400-million-revenue-to-anti-hate-groups
6. Income statement. adidas Annual Report 2022. (n.d.). https://report.adidas-group.com/2022/en/group-management-report-financial-review/business-performance/income-statement.html
https://www.adidas-group.com/en/media/news-archive/press-releases/2023/adidas-reports-second-quarter-revenues-flat-versus-the-prior-year/
7. Bata India continues to “explore strategic alliances” amid speculations of partnership talks with Adidas. The Economic Times. (n.d.). https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/bata-india-continues-to-explore-strategic-alliances-amid-speculations-of-partnership-talks-with-adidas/articleshow/102817560.cms?from=mdr
8. Footwear - India: Statista market forecast. Statista. (n.d.). https://www.statista.com/outlook/cmo/footwear/india#revenue
9. Newcastle united strikes historic deal: Adidas to make triumphant return as Kit Supplier. The Economic Times. (2023, August 27). https://economictimes.indiatimes.com/news/international/us/newcastle-united-strikes-historic-deal-adidas-to-make-triumphant-return-as-kit-supplier/articleshow/103109453.cms
10. Chauhan, D. (2023, September 17). Adidas in line to reportedly sponsor AlphaTauri from the 2024 F1 season. Sportskeeda. https://www.sportskeeda.com/f1/news-adidas-line-reportedly-sponsor-alphatauri-the-2024-f1-season

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 ($68 for grey)
*Discounts Ended for the other colors

STOCK: Sold out sizes are shaded in grey

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 ($68 for grey)
*Discounts Ended for the other colors

STOCK: Sold out sizes are shaded in grey

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This section basically covers our MarkUp penetration based on our penetration percentage

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Referring to our f/w 2022 style penetration, we set the quantity of our products at 750 pieces in black, 281 pieces in blue, 375 pieces in red, and 469 pieces in gray so total 1875, and the unit cost and unit retail price came out at $55,125 and $157,500, respectively. And for the average markup, assuming that red and gray were promoted, the markup percentage was calculated from 65% to 68%, up from 3%.

In the Cumulative markup, the opening inventory was set at 15% for the 2023s/s season and 85% for the new season 2023 f/w, as indicated in our sales plan.

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Starting with 23 FW total budget $1,000,000, our main category jacket penetration% out of total is 30% which is $300,000. In detail, our main item track jacket takes up 50% penetration % out of category total which is $150,000. Here we get $80 for average retail price with 1,875 track jackets. It concludes with our sell through target which is 70% that gives $105,000 amount of style sales with around 1312 sales quantity.

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The annual report for 2023 provides an overall overview of Adidas's financial performance and its commitment to anti-hate initiatives. The company's annual revenues for 2023 are reported to be $30.8 billion, underscoring its stability and market dominance (Adidas Group, 2023).

(Q3. 2022)
The company's combined currency-neutral sales grew at a double-digit rate throughout the quarter. The company's third-quarter revenues in euros climbed 11% to € 6.408 billion. The operating margin reached 8.8% during the third quarter (2021: 11.7%), while the gross margin decreased by 1.0 percentage points to a level of 49.1%.

https://www.adidas-group.com/en/media/news-archive/press-releases/2022/adidas-reports-preliminary-q3-results-and-adjusts-full-year-guid/

(Q4. 2022)

Revenues decreased 1% in currency-neutral terms due to the dissolution of the Yeezy collaboration, and the gross margin was 39.1% due to greater supply chain expenses and heavier discounting. Operating loss of € 724 million, and Net loss from continuing operations of € 482 million.

https://www.adidas-group.com/en/media/news-archive/press-releases/2023/adidas-results-in-2022-reflect-geopolitical-macroeconomic-and-company-specific-challenges/

(Q1. 2023 vs. 2022)

Adidas reported a strong start in Q1 2023 earnings report (Adidas Group, 2023). With global revenues of $6.9 billion, the company demonstrated its financial strength. Alongside these earnings, Adidas emphasized its commitment to support anti-hate groups, making it clear that this initiative was a top priority (Euronews, 2023).

Adidas saw double-digit growth in Western regions in Q1 2022. Due to the impact of the lockdowns caused by COVID-19 in Greater China, the projection for revenue and net income for FY 2022 has been confirmed at the lower end. Revenues grew by 1% in 2022 on a currency-neutral basis. It is increased by 6% to € 22,511 million from € 21,234 million in 2021 in euro terms. In 2023 Q1, Because of increasing supply chain expenses, greater discounting, inventory allowances, a negative Yeezy effect, and unfavourable FX moves, the gross margin decreased by 5.1pp to 44.8%. A 60 million euro operating profit is achieved.

(Q2. 2023 vs. 2022)

In the second quarter of 2023, Adidas continued its progressive performance, reporting global revenues of $7.2 billion (Adidas Group, 2023). This quarter's report again showed the company's dedication to the anti-hate cause and its promise to share its profits for this purpose (Euronews, 2023).

Despite a negative impact of almost € 300 million due to macroeconomic restrictions, currency-neutral sales increased by 4% in the second quarter of 2022.

Markets accounting for more than 85% of the company's revenue increase 14% overall. Due to considerably higher supply chain expenses, the gross margin decreased by 1.5pp to 50.3%. The operating profit totals 392 million euros.

360 million euros' worth of net income is generated through ongoing activities. Currency-neutral revenues were unchanged from the same period last year in Q2 2023.

Improved sell-out trends and a cautious sell-in approach are reflected in the top-line development. Gross margin increased by 0.6 percentage points to 50.9%, a significant gain over Q1 due to greater sell-through and reduced discounting. Inventory situation significantly improves from Q1 level to €5.5 billion; presently rising about 1% annually.

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Adidas X Balenciaga Classics Firebird Tracksuit 

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Adidas X Balenciaga Classics Firebird Tracksuit 

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Adidas and Balenciaga collaborated with each other in November, 2022, where this collaboration led to the combination of Adidas' iconic Adicolor Classics Firebird Tracksuit style and Balenciaga's signature oversized silhouettes.

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Track wear is now suitable for the office. Or so Balenciaga and Adidas would have us believe. There is no longer any boundary between the running track and the boardroom. Sure, we have shifted away from office dress codes for quite a while now. But this is truly bringing tracksuits into a space that once expects its occupants to look spiffy. The images for the latest Balenciaga X Adidas collaboration is shot in the confines of an unmistakable office, one that looks like the headquarters of, say, JP Morgan Chase than the design studio of gaming giant Electronic Arts. Yet, the pretend office users are all outfitted in track wear with the distinctly oversized silhouette of Balenciaga and the conspicuous three stripes of the German sports brand.

Even when office wear is now redefined, very few people can get away with wearing tracksuits to their work place, let alone those that are this baggy. Fewer still will be able to afford these priced at a staggering S$3000, up. But with Kim Kardashian, Madonna, and others adopting them for nearly every occasion, it is possible that the ultra-relaxed look may win hearts among average office workers. They only need to buy the cheaper Adidas version, or pick one suit from a thrift store (where for, some reason, they tend to end up to die, or reborn). In today's office, where hot-desking is increasingly preferred, Balenciaga's and Adidas's proposal may not look out of place in a workspace system conceived to encourage interactivity, community, and creativity. Casualness rather than formality is preferred, which may see four-figure tracksuits find their places between the open workstation and the equally open water cooler.

To be sure, Bella Hadid in the ads (top right) does not look as scary as the face-concealed models who wore similar outfits during the brand's cruise reveal at the New York Stock Exchange in May. She tried to appear soignée, but there is something quite incongruous about her, the outfit, and the surroundings. It isn't clear if women who work in offices would find tracksuits agreeable to wear. They are, in fact, not the epitome of comfort. The Balenciaga X Adidas tracksuit comes in "techno poplin" (a blended fabric of cotton and polyamide), cotton terry jersey, or polyester nylon, all of which, in the collaborative version, are rather thick. Given the oversized silhouette of both track jacket and pants, the weight of both is not exactly light. Can they be truly comfortable in the office? Or are we being captious? If Balenciaga can get you to buy Crocs with heels, distressed-to-death sneakers, and leather clutches that mimic the packaging of Lay's potato chips, they can, we suppose, quite easily entice you to wear tracksuits to the office.
Photos: Joshua Bright/Balenciaga X Adidas

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kill the office wear that we are familiar with Track wear is now suitable for the office. Or so Balenciaga and Adidas would have us believe. There is no longer any boundary between the running track and the boardroom. Sure, we have shifted away from office dress codes for quite a while now.

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The new collection from adidas Originals and Moncler, inspired by a journey from the peaks to the city below, pushes the limits of collaborative creativity and is meant for exploration. The urban foundation of adidas Originals blends with the mountainous origin of Moncler, and a number of innovative styles further the idea that utility generates limitless possibilities for exploration.

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adidas News Site | Press Resources for all Brands, Sports and Innovations

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alongside real-life explorers in looks styled by Ai Kamoshita, with make-up and accessories by Isamaya Ffrench, were brought to life by photographer Hanna Moon.

The groundbreaking creative exploration extends beyond a physical experience to a digital one with the introduction of a new immersive platform on
moncler.com. Drawing inspiration from the collection's summit-to-city design themes, this unique destination unlocks exclusive products and presents collection details through a digital gallery recalling the vibrant metropolitan streetscape that played host to The Art of Genius show earlier this year. This digital experience combines sound, video and 3D animation, immersing visitors in a city street where exclusive products and 3D artworks are gradually revealed, and users can purchase the collection via digital billboards. A limited-edition artistic exploration of the Moncler x adidas Originals NMD boot that evolves the silhouette for the digital context has been brought to life as an NFT that can be accessed through the platform and the adidas Confirmed app.

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From the Mountain to the City: Exploration Meets Inspiration in a Campaign that Pushes the Boundaries of Co-Creation Designed for exploration, Moncler and adidas Originals' new collection pushes the b

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adidas (@adidas) on TikTok | 35.5M Likes. 5.5M Followers. Watch the latest video from adidas (@adidas).

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Adidas Youtube has 1.05M followers and around 20K views per videos.

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Here to create since 1949. View our house rules here: http://a.did.as/TS223J

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Adidas expects €700m operating loss for 2023

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Adidas expects €700m operating loss for 2023

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Adidas' operating expense for 2023 currently increased because of increased supply chain costs and higher discounting contributed to the decline of gross margin for both the fourth fiscal quarter and the fiscal year of 2022.

Adidas has saw an increase in marketing costs as a result of its launch of campaigns oriented on major events like the Olympics in Beijing and the FIFA World Cup.

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Sportswear giant Adidas has warned it expects an operating loss of €700 million (US$740 million) in 2023, partially caused by a potential write-off of the 'Yeezy' product line following the decision to discontinue its production.
Confirmed:

Adidas made an operating loss of €724 million (US$766 million) for the fourth fiscal quarter of 2022, with a net loss of €482 million (US$510 million) from continuing operations

Q4 currency-neutral revenues declined by one per cent, while the gross margin decreased to 39.1 per cent

Net income for the 2022 fiscal year declined by 83 per cent year-over-year (YoY) to €254 million (US$269 million), partly related to one-off costs of €350 million (US$370 million)

Currency-neutral sales grew by one per cent for the year, with double-digit increases in North America and Latin America

Adidas reports revenue growth in all markets except Greater China

Gross margin for 2022 declined to 47.3 per cent, while operating margin decreased to three per cent

Adidas expects currency-neutral revenues to decline at a high single-digit rate in 2023, as well as its underlying operating profit to be around break-even level

Context:

The termination of the 'Yeezy' partnership with rapper Kanye West has hugely impacted Adidas ' finances. The company anticipates a revenue loss of €1.2 billion (US$1.3 billion) due to not selling the existing stock of 'Yeezy' branded products, which would negatively impact its operating profit by around €500 million (US$529 million). Adidas also expects one-off costs of up to €200 million (US$212 million) in 2023.

Meanwhile, increased supply chain costs and higher discounting contributed to the decline of gross margin for both the fourth fiscal quarter and the fiscal year of 2022. Adidas also saw its marketing expenses increase by eight per cent YoY due to the launch of campaigns centered around major events such as the FIfa World Cup, the Beijing Winter Olympics and Uefa Women's Euro 2022.

Several one-off costs were also paid as a result of the company winding down its business in Russia, which it halted due to the invasion of Ukraine.

Comment:

"2023 will be a transition year to build the base for 2024 and 2025," said Bjørn Gulden (pictured above), chief executive of Adidas.

"We need to reduce inventories and lower discounts. We can then start to build a profitable business again in 2024.

"Adidas has all the ingredients to be successful. But we need to put our focus back on our core: product, consumers, retail partners, and athletes."

Coming next:

A tough year looms for Adidas, with Gulden prioritising lower inventory levels and less discounting in order to improve financial performance.

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Adidas expects €700m operating loss for 2023 - SportsPro

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Revenue loss of €1.2bn expected by Adidas from not selling the stock of remaining 'Yeezy' branded products.

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The relationship between Adidas and China and its effect on Adidas' sales : Oct. 22 

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The relationship between Adidas and China and its effect on Adidas' sales : Oct. 22 

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China is one of the biggest market of Adidas that accounts for 14% of the Global distribution of adidas retail net sales

There has been a boycott of Adidas products in China since 2019 due to the Xinjiang Cotton Controversy

The cotton industry in Xinjiang has been accused of using large-scale forced labor in the production of cotton following the creation of the Xinjiang internment camps and therefore the usage of Xinjiang cotton is banned in some regions

Since 2019, Adidas has seen its market share in China fall from 19% to 11%, according to Euromonitor figures, allowing local giant Anta to leapfrog into second place in terms of sportswear market share behind Nike

Younger customers in China prefer to buy from their local brands due to the guochao trend (cultural movement celebrating Chinese heritage and homegrown brands) such as Li Ning and Anta, which is also causing the decrease of Adidas' market share in China

The sum of the market share of these two brands outruns Adidas by 9.4%

Adidas is putting efforts in recovering its relationship and reputation in China as stated:

The company is collaborating with Chinese sports stars and producing a television show that celebrates Chinese sporting heroes

Adidas is also developing products specifically targeted at local consumers and embracing President Xi Jinping’s initiative of promoting public health through increased participation in sports

Adidas aims 50% of the apparel it sells in China to be designed specifically for the Chinese market

Overall, in China, second-quarter sales grew by 16.4 percent in currency-neutral terms, an indication that efforts to reboot its brand there are starting to bear fruit

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Adidas goes local as it fights to overcome crisis in China

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New China boss appeals to Chinese consumers with patriotic clothing lines

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 ($68 for grey)

STOCK: Sold out sizes are shaded in grey, Replenished sizes are shaded in yellow

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The 25% discount on two slow selling colors, red and gray, during week 11 to week 12, results in higher sales in terms of the quantity sold but the markup percentage is lower than previous weeks due to increased markdown.

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The average retail price decreased from originally $80.00 to $66.91 due to the 25% promotion during week 11-12. The markdown percentage is 20%, calculated by dividing the markdown dollars by the net sales reflecting the promotion.

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PRICE:

⁽*Price same as Week 1)

Original Price: $80
Selling Price: $80 ($64 for black, $68 for grey, and $72 for red)

STOCK: Sold out sizes are shaded in grey, Replenished sizes are shaded in yellow

# data[].attributes.body
PRICE:

Original Price: $80

Selling Price: $80 (Black: $72 but $64 for Members, Red: $48 but $40 for Members)

STOCK: Sold out sizes are shaded in grey

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Adidas have just announced that their revenue declined 6% in third quarter of 2023. Therefore, we have planned to increase only 2% for 6M planning. Planned total net sales is $571,000 and planned purchase is $1,020,000 along with planned markdown rate of 25%.

https://www.adidas-group.com/en/media/news-archive/press-releases/2023/adidas-reports-revenue-increase-in-the-third-quarter-underlying-b/