adidas’ Greater China market posts revenue decline

Its revenue from the market dropped by 36% in 2022.

adidas reported revenue growth across all market segments except in Greater China which fell by 36% in 2022.

The brand linked this decline to the challenging market environment, company-specific challenges, and significant inventory takebacks.

Meanwhile, adidas performed strongly in other markets where it registered double-digit growth: Latin America (44%) and North America (+12%). Revenue in EMEA went up by 9%, whilst APAC revenue grew by 4%.

“2023 will be a transition year to build the base for 2024 and 2025,” Bjørn Gulden, CEO of adidas, said.

“We need to reduce inventories and lower discounts. We can then start to build a profitable business again in 2024. adidas has all the ingredients to be successful. But we need to put our focus back on our core: product, consumers, retail partners, and athletes.”

adidas’ currency-neutral revenues declined by 1% overall, largely due to the termination of the Yeezy partnership.

The brand also saw a net loss from continuing operations of €482m (US$510m).

Follow the link for more news on

Adidas

Also Read

Gentle Monster opens first flagship boutique in Australia

Revlon names new CEO

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit