Adidas, Prada Offer a Respite From a Grim Earnings Season; Is Fast Fashion Worth Recycling?
WHAT YOU NEED TO KNOW TODAY: MONDAY, OCTOBER 28, 2024 | | | When Bjørn Gulden took over as Adidas' new chief executive in January 2023, he faced a seemingly insurmountable task. Months earlier, the company had ended its lucrative Yeezy line in partnership with Ye (formerly Kanye West), which accounted for more than eight percent of Adidas' annual sales and drove the brand's connection to sneaker culture in the key North America and China markets. Adidas was also contending with the closure of its Russian stores after the Ukraine invasion, while insiders believed the company had lost its way under previous management, becoming too risk-averse and straying from its purpose as a sports brand. But just two years later, Adidas is thriving, buoyed by the soaring popularity of sneakers like the Samba, big wins with new performance products and a renewed focus on its sporting DNA. For BoF's latest case study, sports correspondent Daniel-Yaw Miller spoke to Gulden and other top executives in a series of conversations at Adidas' German headquarters in Herzogenaurach, Germany to unpack the decisions, strategies and internal shifts that brought Adidas back from the brink. Download the case study now. "The Strategy That Brought Adidas Back From the Brink." Imran Amed, Founder and CEO Plus, also in today's BoF Daily Digest newsletter: |
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| Leveraging 'Deal Days' for Long-Term Marketplace Success | Shopping holidays and events, or "Deal Days," continue to anchor shopping behaviour at key moments throughout the calendar year, creating days of elevated purchase intent. This year, US shoppers spent more than $14 billion online during Amazon's 48-hour Prime Day sale in July — up 11 percent from a year ago, according to Adobe Inc. "Today, whether it's Prime Day, Black Friday or Cyber Monday, offering discounts isn't enough. Brands have to create something unique within that channel to attract shoppers to that particular platform or offer them something they didn't realise they needed," Front Row's VP of brand strategy Alexandra Carmody told BoF. Now, BoF sits down with Carmody to discuss the components of a well-executed Deals Day strategy, how to maximise short-term benefits and the key marketplace trends to inform a brand's approach. | | |
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