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Adidas AG
Adidas makes athletic footwear, apparel, and accessories for sports and everyday wear. Its products include running shoes, training gear, soccer kits, sneakers, and bags, sold under the Adidas brand and, in some cases, the Reebok brand in markets where it still has rights. The company sells mainly to consumers through its own stores and websites, and through wholesale partners such as sporting goods chains, department stores, and online retailers. Adidas makes money when it sells finished products to retailers and directly to shoppers. That means it sits near the end of the sportswear value chain: it designs products, manages branding and marketing, then works with contract manufacturers and suppliers to produce the goods. Its business depends heavily on brand strength, fashion, athlete endorsements, and how well its products connect with sports trends and streetwear demand. What makes Adidas different is that it is not just a shoe company or just a clothing company; it is a global sports brand built around performance and lifestyle. A single pair of shoes can be worn for sport, casual use, and fashion, so Adidas competes in both athletic and consumer-style markets. That gives it a broad customer base, from serious athletes to everyday shoppers who want recognizable branded products.
Adidas makes athletic footwear, apparel, and accessories for sports and everyday wear. Its products include running shoes, training gear, soccer kits, sneakers, and bags, sold under the Adidas brand and, in some cases, the Reebok brand in markets where it still has rights. The company sells mainly to consumers through its own stores and websites, and through wholesale partners such as sporting goods chains, department stores, and online retailers.
Adidas makes money when it sells finished products to retailers and directly to shoppers. That means it sits near the end of the sportswear value chain: it designs products, manages branding and marketing, then works with contract manufacturers and suppliers to produce the goods. Its business depends heavily on brand strength, fashion, athlete endorsements, and how well its products connect with sports trends and streetwear demand.
What makes Adidas different is that it is not just a shoe company or just a clothing company; it is a global sports brand built around performance and lifestyle. A single pair of shoes can be worn for sport, casual use, and fashion, so Adidas competes in both athletic and consumer-style markets. That gives it a broad customer base, from serious athletes to everyday shoppers who want recognizable branded products.
Record quarter: adidas said Q2 revenue reached "EUR 6.7 billion," the highest nominal quarterly sales in company history, with currency-neutral growth of 14% and gross margin above 52%.
World Cup boost: Management said the World Cup drove very strong demand, especially in apparel and direct-to-consumer, and that the brand came out of the event stronger with better visibility and more consumer engagement.
Marketing step-up: adidas spent an extra "EUR 212 million" on marketing in the quarter to support World Cup activations; management said that level of spend will not continue in Q3 and Q4.
Footwear mix: Footwear grew only 1% as lifestyle shoes remained pressured by discounting and high inventory in the market, while management expects footwear to improve again in Q4.
Guidance raised: adidas raised full-year sales growth guidance to "9% to 10%" and kept profit guidance at "CHF 2.3 billion".
Cash return: The company said it returned about "EUR 1.5 billion" to shareholders this year through buybacks and dividends, while still ending the first half with almost "EUR 1.2 billion" in cash.
Management
Bjorn Gulden is a prominent figure in the world of sportswear and fashion, known for his strategic leadership and extensive experience in the industry. As of 2023, he serves as the CEO of Adidas AG, one of the leading global sports brands. Born in Switzerland and raised in Norway, Gulden's diverse background includes both professional sports and business expertise. Gulden's educational credentials include a degree in Business Administration from the University of Rogaland in Norway and an MBA from Babson College in Massachusetts, USA. Before entering the corporate world, he was a professional soccer player and also played professional handball in Germany, providing him with unique insights into the sports industry. His career in the business sector began at Adidas, where he held various roles, including Senior Vice President of Apparel and Accessories. Gulden later transitioned to other companies, including roles as CEO of Pandora, an international jewelry brand, and Managing Director at Deichmann, a major European shoe retailer. Before returning to Adidas, he was at the helm of Puma, where he played a pivotal role in revitalizing the brand and driving significant growth. Under Gulden's leadership at Adidas, the company has focused on innovation, sustainability, and strengthening its market position. His strategic initiatives often emphasize product diversification and nurturing brand authenticity, resonating with both high-performance athletes and fashion-conscious consumers alike.
Gulden's educational credentials include a degree in Business Administration from the University of Rogaland in Norway and an MBA from Babson College in Massachusetts, USA. Before entering the corporate world, he was a professional soccer player and also played professional handball in Germany, providing him with unique insights into the sports industry.
His career in the business sector began at Adidas, where he held various roles, including Senior Vice President of Apparel and Accessories. Gulden later transitioned to other companies, including roles as CEO of Pandora, an international jewelry brand, and Managing Director at Deichmann, a major European shoe retailer. Before returning to Adidas, he was at the helm of Puma, where he played a pivotal role in revitalizing the brand and driving significant growth.
Under Gulden's leadership at Adidas, the company has focused on innovation, sustainability, and strengthening its market position. His strategic initiatives often emphasize product diversification and nurturing brand authenticity, resonating with both high-performance athletes and fashion-conscious consumers alike.
Harm Ohlmeyer is a senior executive at Adidas AG, serving as the Chief Financial Officer (CFO), a role he assumed in 2017. He has played a crucial role in overseeing the financial operations of the company, implementing strategies for growth, and enhancing profitability. Prior to becoming CFO, Ohlmeyer held various leadership positions within Adidas, including roles in sales, marketing, and e-commerce, demonstrating his broad expertise and understanding of the company's operations. Ohlmeyer joined Adidas in 1998, and throughout his tenure, he has contributed significantly to the brand's strategic initiatives and financial management. His leadership has been instrumental in driving the company's digital transformation and sustainability initiatives, aligning financial strategies with long-term business goals. He is known for his analytical skills, strategic thinking, and a keen focus on innovation and efficiency. Before joining Adidas, Ohlmeyer gained valuable experience at other companies, which helped to shape his leadership style and approach to financial management. His work at Adidas has earned him a reputation as a forward-thinking financial leader in the sports and apparel industry.
Ohlmeyer joined Adidas in 1998, and throughout his tenure, he has contributed significantly to the brand's strategic initiatives and financial management. His leadership has been instrumental in driving the company's digital transformation and sustainability initiatives, aligning financial strategies with long-term business goals. He is known for his analytical skills, strategic thinking, and a keen focus on innovation and efficiency.
Before joining Adidas, Ohlmeyer gained valuable experience at other companies, which helped to shape his leadership style and approach to financial management. His work at Adidas has earned him a reputation as a forward-thinking financial leader in the sports and apparel industry.
Martin Shankland is an executive at Adidas AG, where he has made significant contributions to the company's operations, particularly in the areas of global supply chain and sourcing. Currently serving as the Head of Global Operations, Shankland is responsible for overseeing the efficient production and distribution of Adidas products worldwide. His role includes managing production planning, quality control, and supplier relationships to ensure that Adidas maintains its position as a leading global sportswear brand. Shankland joined Adidas in 1997 and has held various leadership positions within the company. Before becoming Head of Global Operations, he was head of the Emerging Markets region, where he successfully expanded Adidas' market presence in key areas, including the Middle East and Africa. His educational background includes a Bachelor of Commerce from the University of Western Australia, which laid the foundation for his career in business and operations. Known for his strategic thinking and deep understanding of supply chain dynamics, Martin Shankland plays a crucial role in driving Adidas' operational efficiency and supporting its commitment to sustainability and innovation.
Shankland joined Adidas in 1997 and has held various leadership positions within the company. Before becoming Head of Global Operations, he was head of the Emerging Markets region, where he successfully expanded Adidas' market presence in key areas, including the Middle East and Africa. His educational background includes a Bachelor of Commerce from the University of Western Australia, which laid the foundation for his career in business and operations.
Known for his strategic thinking and deep understanding of supply chain dynamics, Martin Shankland plays a crucial role in driving Adidas' operational efficiency and supporting its commitment to sustainability and innovation.
Sebastian Steffen is a notable executive at Adidas AG, serving as the Senior Vice President of Investor Relations. In this capacity, he plays a crucial role in maintaining and developing relationships with investors and analysts, ensuring transparent and effective communication about the company's financial performance and strategic initiatives. His expertise is vital for Adidas in articulating its strategic vision to the investment community and managing investor expectations. Sebastian has been with Adidas for several years, bringing in-depth knowledge of the company's operations and financial strategies. Before his current role, he has held various positions within the company, contributing to his broad understanding of the brand and its market dynamics. His leadership in investor relations underscores Adidas’s commitment to fostering strong ties with its stakeholders and promoting confidence in its financial and business strategies. Sebastian's work is particularly significant as Adidas continues to navigate the complexities of the global sportswear market, where investor confidence is pivotal to supporting the company's ongoing growth and innovation. His proficiency in financial communication and strategic planning makes him a key figure in Adidas's executive team.
Sebastian has been with Adidas for several years, bringing in-depth knowledge of the company's operations and financial strategies. Before his current role, he has held various positions within the company, contributing to his broad understanding of the brand and its market dynamics. His leadership in investor relations underscores Adidas’s commitment to fostering strong ties with its stakeholders and promoting confidence in its financial and business strategies.
Sebastian's work is particularly significant as Adidas continues to navigate the complexities of the global sportswear market, where investor confidence is pivotal to supporting the company's ongoing growth and innovation. His proficiency in financial communication and strategic planning makes him a key figure in Adidas's executive team.
Dr. Jan Heinemann is a prominent figure at Adidas AG, where he serves as the Chief Compliance Officer. In this capacity, Dr. Heinemann is tasked with overseeing the company’s compliance strategies and ensuring that Adidas adheres to legal and ethical standards across its global operations. His role is critical in maintaining the integrity and reputation of the brand, particularly in areas related to regulatory compliance, corporate governance, and ethical business conduct. Dr. Heinemann brings a wealth of experience to Adidas, having built a robust career in compliance and legal affairs. His expertise is instrumental in navigating the complexities of international business regulations and fostering a culture of transparency and accountability within the organization. As part of the executive team, he collaborates closely with other leaders to integrate compliance into the broader business strategy, ensuring that the company's initiatives align with its core values and legal obligations.
Dr. Heinemann brings a wealth of experience to Adidas, having built a robust career in compliance and legal affairs. His expertise is instrumental in navigating the complexities of international business regulations and fostering a culture of transparency and accountability within the organization. As part of the executive team, he collaborates closely with other leaders to integrate compliance into the broader business strategy, ensuring that the company's initiatives align with its core values and legal obligations.