2018 New You Beauty Awards - Powered by OmegaXL

Have Yeezy’s Saved Adidas?

By Ana Marino
Posted On May 05, 2016
Have Yeezy’s Saved Adidas?

After two years of bad sales in North America, Adidas has reported an increase of 22% in sales. The president of Adidas North America, Mark King, told Fortune that while there were several factors that had an impact in the increase of sales, footwear had the biggest impact. Footwear sales grossed 54% of revenue.

Could it be due to Yeezy’s? If so, it’s safe to say that Kanye is not bankrupt anymore. However, King also stated that running sales grew by 30%, making it the fastest growing in the market. Yet, according to Fortune, Nike is still dominating the sports market with 60%.

 

 

The lo-top #YEEZYBOOST 350 with a Primeknit upper. Available tomorrow.

A photo posted by adidas Originals (@adidasoriginals) on

 

Another reason why footwear sales may have increased for Adidas is the recent comeback of their classic striped sneakers. The Adidas Superstar has taken over social media. The product has sold out several times due to the high demand, probably because of celebrities and fashion bloggers wearing them and making it a trend.

 

Photo Credit: Adidas
Photo Credit: Adidas

 

It has always been a battle between Nike and Adidas, but now Under Armor is also claiming a spot in the market. Unlike those three retailers, Sports Authority is seeing the opposite of success. The company filed for bankruptcy in March and it announce that all stores will be closing down.

A major strategy sports retailers have that Sports Authority lacked was the endorsement of sport celebrities. Nike is known for having Cristiano Ronaldo and Tiger Woods being faces of the brand, and Adidas has had a history with David Beckham and Justin Bieber. Having world renowned athletes endorsing the companies is probably what has been bringing customers to the brands.

In a press release by Adidas, the company states that for the future they will be focusing in apparel and footwear. It is safe to say that Nike will be facing a competitor that is growing stronger.

Do you think Adidas will surpass Nike in sales this year?

Cover Photo Credit: Shutterstock