According to CNN Money German giant adidas is still crushing competitors such as Nike and Under Armour in North America. Due in large part of its celebrity endorsements, including Kanye West and Pharrell Williams, and consumer shift towards casual streetwear, the Three Stripes’s American sales are reported to have grown 21% over the previous year compared to Nike US which dropped 6%.
However, overall adidas is still much smaller than Nike in NA, only garnering $5.1 billion USD in fiscal 2017 versus Nike’s $15.2 billion USD. adidas’ CEO Kasper Rorsted is happy with the company’s overall performance, which are currently in line with his expectations. adidas will also continue to focus on the North American, China and e-commerce.
In related news, though Kanye West still finds himself surrounded in controversy regarding his slavery comments, adidas CEO says the company hasn’t discussed dropping Kanye West.
Latest Quarter: Adidas US +21%, Nike US -6%
— Matt Powell (@NPDMattPowell) May 3, 2018