MJ's Son Partners With Tech Startup WaitTime LeBron Not Worried About Nike Q3 Results Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Nike Remains Top Provider For Tourney Teams Michigan Gets Regular Jordan Jerseys Back UNC Football's Move To Jordan Could Pay Off Dodgers Owner Leads $100M DraftKings Investment Adidas CEO To Keep Investing Heavily In U.S. Adidas' CCM Hockey Brand Up For Sale Again
ADIDAS "OUTMANEUVERED" NIKE WITH PURCHASE OF SALOMON
Published September 22, 1997
In the wake of adidas' $1.3B purchase of Salomon, adidas and Nike "are squaring off to see which will dominate the sporting-goods market in the next century," according to Woodruff & Trinephi of BUSINESS WEEK. adidas CEO Robert Louis-Dreyfus "has outmaneuvered Nike in the rush to diversify from shoes and apparel -- a crucial strategy that may push Nike to look for more acquisitions. ... Salomon's product line gives Adidas a new edge. The company makes finely engineered products that command premium prices and deliver higher margins than T-shirts or sneakers. They also attract attention from upscale consumers." Woodruff & Trinephi add that Salomon's bindings "are the industry standard for both downhill and cross-country skis," and that one-fourth of adidas-Salomon's sales "will come from such high-margin products" (BUSINESS WEEK, 9/29 issue).