Adidas on Thursday described its Q2 as "smashing," and as a result will "boost its marketing spending in the coming year," according to Suzanne Stevens of the PORTLAND BUSINESS JOURNAL. The German brand "projects its sales will rise" between 17-19% through the end of '17. Adidas' performance in North America was a "big contributor" in Q2 results (BIZJOURNALS.com, 8/3). Adidas CEO Kasper Rorsted said the company has their "roots in soccer," and "it’s very, very important for us that we lead the soccer revolution that is taking place in the world." Rorsted: "What happens in soccer in the U.S. or in Europe is seen in Asia so it has a tremendous impact as a global market" (“Squawk on the Street,” CNBC, 8/3). Adidas Global GM/Basketball Kris Aman said in terms of players having a signature basketball shoe, “clearly that model has evolved” but the athletes are still “incredibly important." Aman: "There’s no fooling anybody and so the story has to be real and it has to be something [consumers] haven’t seen.” Aman noted Adidas' “signature” line of sneakers will remain “very important for us as a basketball brand, but how we do it is going to evolve" (NICEKICKS.com, 8/1).
ON THE RISE: CNBC’s Brian Sullivan said the Adidas/MLS deal “should put the final nail in the coffin of anybody still out there who believes that soccer is just a niche sport.” Garber said, “They love our sport, they love our league and it’s kind of a transformational deal for us.” The Adidas deal is worth more than the MLS’ current TV contract, and Garber said when the TV deal is up in ‘22 it will go for a “heck of a lot more than we have right now.” Garber said he has "no doubt" the league's next TV deal will be worth more than $1B. More Garber: "Our league is positioned as a league on the rise. You want to associate with companies that are resurgent, that are rebuilding their brand and launching to young people, particularly in this country." He said Adidas' North American business is "exploding" (“Power Lunch,” CNBC, 8/3).
