who-owns-adidas

Who owns Adidas?

Adidas is a German multinational best known as a designer and manufacturer of sportswear and related accessories. It was founded in 1924 in the Bavarian town of Herzogenaurach, Germany, and did not take on the Adidas name until 1949. The new company, known today as Adidas AG, is the holding company for the Adidas Group and the sole owner of Adidas. Some of the company’s largest shareholders include: Groupe Bruxelles Lambert SA (7.6%), Nassef Sawiris (3.3%), and Norges Bank Investment Management (2.8%).

Early years

The Adidas story starts with Adolf Dassler. Known as “Adi” to his friends, Dassler made sports shoes in his mother’s laundry and was soon joined in the business by his elder brother Rudolf.

The resultant company became known as Gebrüder Dassler Schuhfabrik, translated as the Dassler Brothers Shoe Factory. 

Adi was involved in the development of spiked running shoes for athletics made from canvas and rubber that were an improvement over older models.

He convinced sprinter Jesse Owens to wear them at the 1936 Berlin Olympics, and when Owens won four gold medals, the Dassler name became synonymous with world sportsmen.  

Before the outbreak of World War II, the Dassler brothers were already selling over 200,000 pairs of shoes each year.

Adidas is born

After the war in 1948, the Dassler brothers held different views on how the business should be run and decided to part ways.

Adolf founded Adidas from the first six letters in Adi Dassler, while Rudolf decided to found Ruda (later Puma) around the same time.

In the late 40s, 50s and 60s, Adidas and Puma became fierce and bitter rivals.

The Adidas logo

The first iteration of the Adidas 3-stripe logo was acquired from Finnish footwear brand Karhu Sports in 1952 for the equivalent of €1600 and two bottles of whiskey.

This was superseded by the more recognizable trefoil logo that was designed in time for the 1972 Munich Olympics.

The mountain logo was then introduced in 1991, followed by the neo-circle in 2002 and the word-mark in 2005. 

Today, the company uses various iterations of its logo according to the product category. The trefoil design, for example, is used for lifestyle and casual wear, while the neo-circle tends to be used for lifestyle collaborations.

Who owns Adidas today?

After Horst Dassler (son of Adolf) passed away in 1987, French industrialist and investor Bernard Tapie purchased an 80% stake in Adidas worth around $290 million.

Unable to meet the interest on the loan he used to fund the purchase, Tapie mandated that French bank Crédit Lyonnais handle its sale.

In an unusual move, Crédit Lyonnais then converted the debt it took on into equity in Adidas.

The bank had tried to assist Tapie as a personal favor because he was Minister of Urban Affairs in France at the time.

But it was to no avail. Tapie went bankrupt in 1994 and Crédit Lyonnais sold Adidas to an assortment of investors for a profit.

The new company, known today as Adidas AG, is the holding company for the Adidas Group and the sole owner of Adidas. Some of the company’s largest shareholders include:

  • Groupe Bruxelles Lambert SA (7.6%).
  • Nassef Sawiris (3.3%), and
  • Norges Bank Investment Management (2.8%).

Key takeaways

  • Adidas is a German multinational best known as a designer and manufacturer of sportswear and related accessories. It was founded in 1924 in the Bavarian town of Herzogenaurach, Germany.
  • Adidas was known as Gebrüder Dassler Schuhfabrik until 1948 when co-founders the Dassler brothers disagreed over the direction of the business and started their own companies. From this disagreement would emerge Adidas and Puma, with the two becoming bitter rivals over the next few decades.
  • After Horst Dassler (son of Adolf) passed away in 1987, French industrialist and investor Bernard Tapie purchased a controlling stake in the company. However, he went bankrupt in 1994 and creditor Crédit Lyonnais sold Adidas to an assortment of investors for a profit.

Related Visual Stories

Adidas Revenue

adidas-revenue
Revenue in 2019 was $23.64 billion. Revenue in 2020 decreased to $18.43 billion. Revenue increased in 2021 to $21.23 billion and further increased in 2022 to $22.51 billion.

Adidas Profits

adidas-profits
Net income in 2019 was $1.97 billion. Net income in 2020 dropped to $432 million. Net income in 2021 increased to $2.11 billion but decreased in 2022 to $612 million.

Adidas Revenue Breakdown

adidas-revenue-breakdown
In 2019, Footwear, Apparel, and Accessories and Gear had revenues of $13.52 billion, $8.96 billion, and $1.15 billion, respectively. In 2020, Footwear revenue decreased to $10.13 billion, Apparel to $7.31 billion, and Accessories and Gear to $0.991 billion. Revenues in 2021 increased for Footwear ($11.33 billion), Apparel ($8.71 billion), and Accessories and Gear ($1.19 billion). In 2022, Footwear revenue grew to $12.4 billion, Apparel remained relatively stable at $8.7 billion, and Accessories and Gear increased to $1.49 billion. Between 2019 and 2022, Footwear consistently generated the most revenue, followed by Apparel and then Accessories and Gear.

Adidas Distribution Strategy

adidas-distribution-strategy
In 2022, E-Commerce (Direct-to-Consumer) contributed to 20% of total revenue. Own Retail (Direct-to-Consumer) accounted for 19% of total revenue in 2022. Wholesale made up the majority of revenue in 2022, at 61%.

Adidas Employees

adidas-employees-by-department
In 2022, the company had 31,477 employees in own retail. Sales function comprised 3,112 employees in 2022. There were 8,254 employees in the logistics department in 2022. Marketing had 4,685 employees in 2022. Central Administration, Production, R&D, and IT had 5,161, 558, 1,031, and 4,980 employees, respectively, in 2022.

Adidas Production

adidas-production
In terms of Footwear production, 34% came from Indonesia, 32% from Cambodia, 16% from Vietnam, and 18% from China. Apparel production was distributed as follows: 22% from Indonesia, 17% from Cambodia, 44% from Vietnam, and 17% from China. For Accessories & Gear production, Vietnam contributed 28%, Turkey 26%, Pakistan 25%, and 21% came from other countries.

Adidas Revenue By Geography

adidas-revenue-by-geography
In 2022, EMEA (Europe, Middle East, and Africa) generated €8.55 billion in revenue. North America contributed €6.4 billion in revenue in 2022. Greater China, Asia-Pacific, and Latin America had revenues of €3.18 billion, €2.24 billion, and €2.11 billion, respectively, in 2022.

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