Iconic Adidas Sneakers Surge in Popularity Despite Vintage Design, Generating $182 Million in Profit
Adidas’ Samba and Gazelle sneakers are currently some of the most popular shoes on the market, despite their vintage design. The German sportswear company has experienced a significant increase in sales of these shoes, as well as higher demand for its running, basketball, and soccer shoes, resulting in a net profit of approximately $182 million in the first three months of 2024.
The Samba sneakers have a rich history dating back to the 1950s when they were first worn by a German soccer team. The Gazelle sneakers, with their distinctive three-stripe logo, were originally designed for indoor sports in the 1960s. Both styles have become synonymous with Adidas.
While sales in Europe have skyrocketed, North America saw a decline of 4% due to overstocked inventory at retailers. Despite this challenge, Adidas CEO Bjørn Gulden remains optimistic about the brand’s future, especially with major sporting events like Euro 2024, Copa America soccer tournaments, and the Olympics on the horizon.
Despite facing hurdles in the past, Adidas is committed to investing in its products, brand, sales and marketing for continued growth. The brand’s positive outlook for 2024 is backed by its strong performance in various markets worldwide. Nike recently secured the rights to be the official kit supplier for the German national soccer teams, ending Adidas’ decades-long partnership with the sport.
Adidas is still grappling with its breakup with rapper Ye, sluggish sales in North America and a significant tax bill that led to an annual loss last year. However, the brand remains determined to maintain its growth trajectory and continue to succeed with its iconic sneaker styles.
