It’s been quite the year for adidas.
Popular collaborations with Yeezy and Pharrell, successful new silhouettes (Tubular, Ultra Boost etc.) and continued interest in the classic styles has skyrocketed the brand to new heights.
While adidas still trails Nike in profit, it has surpassed its competitor (and Under Armour) in stocks. According to a report from Portland Business Journal, adidas’ first-quarter sales are up 31 percent, with its stock performing at a rate of +31.54 percent. Nike lags behind with a rate of -11.43 percent.
Following the positive report, head of adidas North America, Mark King, spoke with the Journal and proclaimed adidas as “the coolest brand in sports right now. And we’re going to use that coolness in a more effective way than we ever did before.”
It appears King was referring to adidas’ recent sale of sporting brand Mitchell & Ness to focus on core product.
Seems like whatever moves the brand is making, they’re working.
SOURCE: Portland Business Journal | PHOTO CREDIT: Getty
The Yeezy Effect: Find Out How Kanye Made Adidas’ Stock Blow Past Nike was originally published on globalgrind.com