The brand’s CEO anticipated that they will expand their collaboration with other sports stars.
Declining sales in North America have forced Adidas to bring out the big guns. The sportswear brand CEO Bjørn Gulden is doing what any good self-respecting coach would do: give the ball to Patrick Mahomes.
In a company’s quarterly call with investors, Gulden admitted that “we need to use him better,” referring to the Kansas City Chiefs quarterback.
The board member also anticipated that the company will seek to expand its partnerships with more US sports stars; however, no names were mentioned yet.
As in any sports team, Adidas is shaking up its executive staff in North America, aiming to improve sales not only in the fourth quarter but in 2024 and beyond.
To do this, the company let go of the British Rupert Campbell, current president of its North American division, where its profits fell 9% in the third quarter. Now, “we are looking for an American to lead America,” Gulden said.
Adidas will also cancel Kanye West
Last year, the German brand formed a fashion collaboration with musician and businessman Kanye West, which did not perform as well as expected.
Although the sports apparel and footwear brand did well in the United States, its performance left much to be desired in the company’s other markets.
Now, to make up for lost ground, Adidas is going to write-off 300 million Euros in Yeezy inventory.
Mahomes and Adidas
Just at the end of September, Adidas announced with great fanfare that Mahomes would debut his new brand footwear in the Sunday Night game against the New York Jets. Chiefs won the duel 23-20.
Earlier this week, the names of Mahomes and Adidas were placed in the spotlight again when an eight-month-old commercial in which the signal-caller promoted the German brand went viral.
The ad returned to public light when NFL Network aired it during the game against the Miami Dolphins in Frankfurt, Germany.