Adidas’ retro-style sneakers, the Samba and Gazelle, are flying off the shelves and helping the German sportswear company regain its position in the market. The company reported strong sales of these popular sneakers, as well as increased demand for running, basketball, and soccer shoes, leading to a significant boost in profit for the first quarter of 2024.
The Samba shoes have a rich history dating back to the 1950s when they were designed for a German soccer team playing in icy conditions. The modernized version of the shoe, featuring the signature three stripes, has become a favorite among consumers. Similarly, the Gazelle sneakers, also adorned with the iconic three stripes, originated in the 1960s for indoor sports but have since become a classic choice for footwear enthusiasts.
While Europe saw a 14% increase in sales, China and Latin America also contributed to Adidas’ success. However, North America experienced a decline in revenue due to excess stock at retailers. Despite the challenges, Adidas CEO Bjørn Gulden remains optimistic about the brand’s future, emphasizing continued investment in product development, marketing, and sales strategies.
Looking ahead, Adidas is gearing up for major sporting events in 2024, including Euro 2024, Copa América, and the Olympic Games. Meanwhile, rival Nike recently secured the rights to outfit the German national soccer teams, marking the end of Adidas’ long-standing partnership with the sport. Despite facing setbacks last year, Adidas is back on track and poised for growth in the coming months.