adidas "wants to double sales of running shoes" by '20 and "become the 'most influential and connected sportswear brand in street culture,'" according to Matthew Kish of the PORTLAND BUSINESS JOURNAL. The company yesterday "followed up a March investor day by giving more detail about soccer, running and Originals, its casual sportswear line." The company said those departments are "key components" of its effort to make up lost ground and increase "brand desirability." Kish reported adidas "expects high-single-digit revenue increases annually" through '20, as well as 15% growth in its bottom line "on average over that time." On the soccer side, it "wants to grow sales in the mid-single-digit rate annually" between '15-20 "with the help of improved footwear offerings." In running, the company's Boost cushioning technology "has been well received." adidas "wants to build on the momentum by opening running specialty stores" in L.A. and N.Y. to "showcase products." It expects running sales "to double" by '20. On the casual side, the company "expects Originals sales will increase" 50% by '20 (BIZJOURNALS.com, 6/24).
STAYING WITH FIFA: REUTERS' Emma Thomasson reported adidas has "no immediate plans to end its sponsorship deal" with FIFA despite the organization's ongoing corruption scandal. adidas GM of Global Football Markus Baumann yesterday said that the company has "no intention to change its deals" with either FIFA or UEFA, noting they are "long-term contracts." He indicated that when the sponsorships "come up for renegotiation, Adidas would consider how influential this kind of partnership is to its target consumer" (REUTERS, 6/24).
