Adidas

Adidas Bag

HR Shake Up

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • Adidas Global Head of Human Resources Karen Parkin has stepped down.

Following employee complaints about the culture and lack of diversity at Adidas, the company’s global head of human resources Karen Parkin is stepping down. In June, some Adidas employees questioned whether Parkin had addressed racial issues appropriately, sending a letter directly to the company’s supervisory board. The board rejected the statements made in the letter. In a meeting last year, Parkin said racism was “noise” that is only discussed in America, and that she didn’t believe the brand had an […]

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See You, UCLA

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • Under Armour looks to free itself from high-paying deals with college programs.

Under Armour is attempting to terminate its 15-year, $280 million deal with UCLA. The company cited UCLA’s inability to provide marketing benefits required by the contract. The Under Armour deal was signed in 2016 and was the richest college sports shoe and apparel deal ever at that time, including: — $15 million upfront. — $11 million annually in rights and marketing fees. — $7.4 million clothing, shoes, and equipment each year. — $2 million annually for facility upgrades. According to […]

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Adidas store

$20 Million Pledge

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • Adidas makes diversity commitments in response to criticism.

Adidas has committed to invest $20 million into Black communities over the next four years. The pledge comes after U.S. employees complained about the company profiting off of Black culture and the fact the company’s six-person executive team and 16-person board of directors does not include a Black member. Along with the investment, the company announced at least 30% of new U.S. hires within Adidas and Reebok will be Black or Latino. Adidas also announced that it would finance 50 […]

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Diversity? Just Do It

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • Nike announced it was donating $40 million to “support the Black community in the U.S,” an effort that follows Michael Jordan and the Jordan Brand also donating $100 million.

A week after Nike released a new advertising campaign that said “Don’t Do It,” and told viewers not to “pretend there’s not a problem in America,” the company turned the microscope on itself. In a memo to employees on Friday, CEO John Donahoe said that “while we strive to help shape a better society, our most important priority is to get our own house in order.” Donahoe continued, saying that Nike’s diversity and inclusion efforts “have a long way to […]

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Adidas Loses Footing To Coronavirus

  • Adidas saw its net income in the first quarter plummet 97%.
  • More than 70% of its stores remain closed around the world.

Adidas saw its net income in the first quarter plummet 97% as the German sportswear and sneaker giant felt an outsized impact from the coronavirus pandemic that has closed the vast majority of its stores across the globe. It also forecasted that the worst has not yet come for the company. According to Adidas, more than 70% of its stores remain closed around the world. That has led the company to lean on its e-commerce platform, which it said saw […]

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Pat Kondelis, Director of HBO’s New Documentary ‘The Scheme,’ On Christian Dawkins And The College Hoops Scandal

  • 25-year-old Christian Dawkins, the subject of a new HBO documentary, was at the center of hundreds of thousands of dollars that were funneled to college basketball recruits.
  • “All of this is done under the table, and it’s all secretive. So it’s really difficult to try to get an accurate number,” Kondelis says of how much money was circulated in the scheme.

HBO’s new documentary, ‘The Scheme’ tells the behind-the-scenes story of how 25-year-old Christian Dawkins ended up at the center of the biggest criminal case in collegiate sports history – with Dawkins himself serving as the film’s first-hand narrator.  The film, which will debut on HBO on March 31, chronicles the two-year undercover FBI investigation into college basketball corruption that came to a head in 2017 when Adidas executives and assistant coaches at major college programs were arrested in a pay-for-play […]

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Nike Fights Growing Coronavirus Outbreak With China Playbook in Hand

  • Nike reported $10.1 billion in revenue in its fiscal third quarter.
  • The company’s run of 22 consecutive profitable quarters in China comes to an end, down 4% in Q3.

Nike reported better than anticipated financial results for its fiscal third quarter, amid a global health crisis that stands to negatively impact key company markets in North America and Europe in the coming months.  The shoe and apparel maker generated revenue of $10.1 billion for the period starting December 1 and ending February 29, up 7% year-over-year on a currency-neutral basis. However, net income fell 23% to $847 million, primarily resulting from the global coronavirus pandemic. FOS REPORT: 54.5% of […]

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Adidas Unscathed by Euro Postponement, Possible Olympics Cancellation

  • Apparel maker estimated only $55 to $77 million in revenue losses if the coronavirus impacts both events.
  • European Championships sales already reflected in fourth-quarter financial performance.

This summer’s European Championships became the latest sporting event to fall victim to the coronavirus on Tuesday. UEFA has officially pushed the international soccer tournament back until next summer, following its suspension of the Champions League and Europa League last week due to the pandemic outbreak. While the long-term impact of Coronavirus on Adidas’ business remains unknown, the postponement of the Euros will not be as substantial to financial performance as analysts believe. Much of the sales derived from the […]

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Shot Callers: Riley Mahoney, Senior Merchandise Manager, MLS at adidas

With Major League Soccer beginning its 25th season, the league worked with its jersey provider adidas to design new jerseys for each of the league’s 26 clubs. Riley Mahoney, senior merchandise manager at adidas for MLS, joins Ian Thomas to discuss the new threads for the 2020 season and the thought that went into designing them. Edited highlights appear below: On the approach to the jerseys for this season (0:18) Mahoney: “Really this journey started back in 2018. It’s a […]

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Shot Callers: Maribeth Towers, SVP of Consumer Products, Major League Soccer

Major League Soccer celebrates its 25th anniversary this season with the league’s brand stronger than ever. As a result, MLS will look to roll out a number of consumer products that will resonate with their growing fanbase and soccer fans at large. Maribeth Towers, SVP of Consumer Products for MLS, chats with FOS Editor Ian Thomas about the league’s approach to creating jerseys and products to please fans at the stadium and beyond. Edited highlights appear below: On unveiling jerseys […]

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