CEO Bjørn Gulden’s Plan for Revival in the US Market
- Adidas CEO Bjørn Gulden emphasizes the need for the company to be more American to succeed in America
- Sales in North America down 7% in Q2, focusing on basketball and baseball
- Yeezy inventory being phased out and impacting brand desirability
- Candace Parker named president of women’s basketball division
- Adidas extending contract with NBA player Anthony Edwards
- Eurocentric positioning criticized, now focusing on American sports
- Wholesale sales up 17% in Q2, DTC accounts for 41% of sales
- Footwear sales up 17%, apparel up 6%, accessories down 8%
Adidas CEO Bjørn Gulden has acknowledged the need for the company to embrace American sports and culture to succeed in the United States, as sales in North America declined by 7% in Q2. The athletics retailer is focusing on basketball and baseball, naming former WNBA player Candace Parker as president of its women’s basketball division and extending its contract with NBA player Anthony Edwards. Adidas aims to overcome criticism for its Eurocentric positioning and compete with American brands by building a product pipeline tailored to the US audience. The company is also prioritizing wholesale partners, with sales up 17% in Q2.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Adidas’ sales growth, Yeezy inventory reduction, plans for success in the U.S., and recent product launches. It also includes quotes from Adidas executives and an analyst’s perspective on the company’s progress. However, it lacks some specific numbers or details to support certain claims, such as the impact of Yeezy inventory on brand desirability and the exact percentage of wholesale and DTC sales.
Noise Level: 7
Noise Justification: The article provides relevant information about Adidas’ sales growth and strategies for success in the North American market. However, it contains some repetitive information and lacks a deep analysis of long-term trends or possibilities.
Financial Relevance: Yes
Financial Markets Impacted: Adidas’ stock price
Financial Rating Justification: The article discusses Adidas’ financial performance, sales growth, inventory management, and strategic plans for the future. This information can impact the company’s stock price and its market value.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article. The focus is on Adidas’ sales growth and business strategies.
www.retaildive.com