Back in January 2015, adidas was unseated by the Baltimore-based Under Armour as the No. 2 sports apparel brand in the U.S. Then, adidas is even overturned by Skechers as the No.2 footwear brand.
But this year, adidas is back in business as the brand’s market share of U.S. athletic footwear already spiked to 7.2% from January to November — an impressive figure up from 4.3%, according to NPD Group. If that’s not enough, adidas saw its revenues during the third quarter rose 20% where it gained US$19 billion in sales. The iconic German sports brand also defeated Skechers to regain the No. 2 footwear spot. All the efforts here have prompted Yahoo Finance to honour adidas as “Sports Business of the Year”.
Much of the adidas‘ success is largely attributed to some of the brand’s superstar collaborations with top artists like Pharrell and Kanye West, as well as the introduction of Boost technology and eco-friendly footwear.
“I think because we have both performance products and style products, it’s not easy, but it gives us the opportunity to chase the consumer where the consumer wants to be,” said Mark King, president of adidas in North America. “UltraBoost is the greatest example of it. It was going to be the ultimate running shoe, which it is, and now it’s the ultimate fashion shoe. These products can play both, and that’s not easy to do, but that’s the opportunity.”