adidas

Paolo Casula
Mar 1, 2024
2 min read

Overview

Adidas AG (; stylized in all lowercase) is a German multinational that designs, manufactures and markets athletic footwear, apparel and accessories under the adidas, Reebok, Five Ten, TaylorMade and Runtastic brands. Headquartered in Herzogenaurach, Bavaria, it is Europe’s largest and the world’s second-largest sportswear manufacturer after Nike Wikipedia Adidas Group Report.

History & Evolution

Founding (1924): Established as Gebrüder Dassler Schuhfabrik by Adolf and Rudolf Dassler in their mother’s laundry; split in 1949 into Adidas (by Adolf) and Puma (by Rudolf) Wikipedia.
Brand Expansion: Acquired Reebok in 2006 to strengthen its U.S. presence; launched Yeezy partnership in 2015 (ended 2022); acquired Runtastic (fitness-app developer) in 2015 Wikipedia.

Business & Brands

adidas: Core brand offering performance and lifestyle footwear, apparel and equipment.
Reebok: Fitness- and training-focused footwear and apparel.
Five Ten: Specialty outdoor and action-sports footwear.
TaylorMade: Golf clubs, balls and equipment (spun off in 2021, adidas retains licensing rights).
Runtastic: Digital fitness apps and tracking services Wikipedia.

Financial Performance (FY 2024)

Revenue: € 23.683 billion, up 11 % (€ 23,683 m vs. € 21,427 m in 2023) Adidas Group Report World Footwear.
Operating Income: € 1.249 billion, an improvement of over € 1 billion year-on-year Adidas Group World Footwear.
Net Income: € 756 million (versus a € 119 million loss in 2023) Wikipedia.
Gross Margin: 50.8 %, up 3.3 pp YoY; Q4 gross margin widened to 49.8 % World Footwear.
Key Regional Sales: Europe 32 %, North America 22 %, Greater China 15 %, Latin America 12 %, Japan/South Korea 6 %, Others 14 % Wikipedia.

Leadership & Governance

CEO: Bjørn Gulden (since Jan 2023), credited with refocusing the brand post-Yeezy and driving double-digit growth Reuters.
CFO: Harm Ohlmeyer
Executive Board: Eric Liedtke (Global Brands), Gil Steyaert (Global Operations), Roland Auschel (Global Sales) Wikipedia.
Chairman: Thomas Rabe Wikipedia.

Strategy & Recent Developments

Brand Momentum: Strong demand for heritage silhouettes (Samba, Gazelle) and lifestyle collaborations driving share gains from competitors Business Insider.
Guidance: Targeting high-single-digit currency-neutral sales growth and € 1.7–1.8 billion operating profit in 2025; proposing a € 2 per-share dividend (from € 0.70) WSJ.
Cost Efficiency: Announced up to 500 HQ roles cuts to streamline decision-making and reinvest in product and marketing WSJ.

Sustainability & Social Impact

“Own the Game” Roadmap: Focus on circular design, sustainable materials (Parley ocean plastic, Better Cotton), and carbon-neutral operations by 2025.
Supply Chain: Committed to fair labor practices and transparency across 1,600+ factories in 60 countries.
Community Engagement: Supports grassroots sport programs and the “Sport for Development” UN partnership.

For more details, see Adidas AG’s Annual Report 2024 and corporate site: adidas-group.com