In Olympics launch, Adidas seeks to broaden sport appeal [Reuters]
Piper Sandler Companies (PIPR)
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Source: Reuters
including climbing gold medallist Janja Garnbret, as it uses the Games to hone its focus on sports rather than celebrities. From sprint spikes to footwear made for the newest Olympic sport of breakdancing, the shoes are black with a white three-stripe logo and yellow-orange highlights, meant to represent the "flame" of athletes' passion for their sport. Adidas CEO Bjorn Gulden has said he wants the brand to provide shoes and apparel for a wider variety of sports, a departure from its previous strategy of focusing more deeply on fewer sports. Sportswear brands such as Adidas, Puma, and their bigger U.S. rival Nike, are betting that their marketing spend and sponsoring of Olympic athletes and national teams will pay off as more consumers engage with sports and buy products like running shoes this summer. Performance footwear, a category that includes running shoes, grew by 8.2% in 2023, according to Euromonitor, which forecasts a compound annual growth rate of 7.2% for the five-
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News
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PIPR
Earnings
- 4/29/24 - Beat
PIPR
Sec Filings
- 4/26/24 - Form 8-K
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEFA14A
- PIPR's page on the SEC website