Company profile
- Industry
- Sportswear
- Founded
- 1949
- Headquarters
- Herzogenaurach, Germany
- Ownership
- Publicly traded
Profiles are auto-generated and infrequently updated.
The analyses
The Moat Anatomy · Moat & Competition
Adidas Survived Losing Yeezy. It Hasn't Survived What Yeezy Was Hiding.
When Adidas cut Kanye West in 2022 it lost a line that did €1.2 billion a year. It didn't write the inventory off — it sold it, and dodged a forecast €700 million loss. The real wound was never the cash. It was the decade Yeezy spent papering over a hollow core.
8 min
The Moat Anatomy · Moat & Competition
Adidas Just Beat Nike at Its Own Game. It Still Doesn't Have a Moat.
In 2024 Adidas grew revenue 12% currency-neutral while Nike crawled at 1%, and its global sportswear share climbed to 8.9% as Nike's slipped to 14.1%. But the engine driving the comeback is two reissued 1960s sneakers - and that's the same trap that just caught Nike.
8 min
The Turnaround · Decision Forks
Adidas Swung From a €58M Loss to €824M — Yeezy Liquidation Supplied Roughly €200M of It
Adidas went from a €58M loss in 2023 to €824M net income in 2024 - a real turnaround. But roughly €200M of the swing came from liquidating the Yeezy inventory it once feared writing off, and North America still shrank. The recovery is genuine. It is also unfinished.
8 min
The Turnaround · Decision Forks
Adidas's Turnaround Story Rests on a €58M Tax Artifact and a Brand That Held Strong
The story says Adidas posted its first loss in decades and clawed back from the grave. The truth: it never had an operating loss, its €58M net loss was a tax-rate artifact, and the brand it 'rescued' had never broken.
7 min