Source: Bloomberg
Summary
German sportswear company Adidas has announced that it is unlikely to return to growth and profit until 2027. This comes after the company faced controversy surrounding its partnership with Kanye West’s Yeezy brand. Adidas has been working to revive its reputation and sales. According to the company, the turnaround is expected to take several years.
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The trend returns with a new name.
Adidas’s struggles are nothing new, echoing the decline of other sportswear brands. The Yeezy controversy only accelerated the downward spiral. Now, the company is looking to revive its sales and reputation. The turnaround is expected to take several years, a timeline that feels familiar to those who’ve seen this cycle before. Adidas’s woes are a reminder that even the biggest brands can fall victim to hype and missteps.
Author: Evan Null
