In the current market, Adidas’ Samba and Gazelle sneakers are the most popular shoes. The company reported “very strong and growing” sales of these shoes, along with increased demand for running, basketball, and soccer shoes. This growth helped Adidas post a net profit of approximately $182 million in the first three months of 2024, a significant improvement compared to the same period last year when the company reported a loss of $26 million.
The history of Samba boots dates back to the 1950s when they were first worn by a German soccer team that needed durable shoes for icy and snowy playing conditions. Although the design has been updated, the iconic “3-zone profile” (stripes) has remained a trademark symbol for Adidas. The Gazelle sneaker, also with three stripes, was originally designed for indoor sports in the 1960s before becoming one of the most recognizable pairs of shoes.
Adidas experienced strong demand for its products in China and Latin America while sales in Europe rose by 14%. However, North America saw a 4% drop in revenue due to overstocked retail. Despite these challenges, adidas CEO Bjorn Gulden remains optimistic about the company’s progress and reinforced their commitment to investing in products, branding, sales and marketing for continued growth.
Adidas has a positive outlook for 2024 as major sporting events such as Euro 2024 and the Copa America football tournaments are on the horizon. The company faces competition from Nike which recently secured the right to be the official kit supplier for Germany’s national soccer team ending a longstanding partnership with Adidas that included four World Cup victories for men’s team. Despite this setback Adidas is determined to bounce back and continue its growth trajectory.