Adidas has a lot to be happy about this week — from its major marathon victory and running growth to momentum in its soccer category.
In a conference call to discuss the company’s first quarter earnings on Wednesday, CEO Björn Gulden said the company got off to a “great start” in 2026, its final year of its four-year turnaround plan.
The executive said first-quarter results show the brand’s products in the marketplace are “in demand.”
He also spoke about how the company decided to front-loaded some of its product to meet demand, such as the home and away jerseys for the FIFA World Cup soccer event this summer across North America.
He acknowledged that the biggest opportunity over a longer period — “because we are so far behind our competitor” (obviously referring to Nike) — is Europe, which the CEO said is a “market that is currently not growing at all.” Overall, footwear growth was 4 percent in the quarter, lagging apparel’s 31 percent growth rate.
“You might think that the 4 percent is weak. I would say it’s not. It tells you that footwear right now is in the process of being more discounted, especially in the lifestyle area,” the CEO said. He explained that because the European and U.S. markets are over-inventoried with a lot of discounts, it’s “hard right now to grow on full price.”
Greater China saw good growth through great momentum and great sell-through, the CEO said, adding that South Korea is also seeing “strong growth in both footwear and apparel. I don’t think the discount area is so high in this part of the world.” And he noted that Latin America is “on fire,” fueled by the upcoming World Cup event, with Gulden noting that “we are now No. 1 in the region.”
Amid World Cup fever, there’s more interest in soccer uppers and different technology bottoms.
The brand is seeing double-digit growth in both factory outlets and concept stores. E-commerce is also showing growth, with Gulden emphasizing that “this is not a strategy for us that DTC (direct-to-consumer) should grow faster than wholesale, but it is a result right now [of] how the market is and that might change.”
Coming up is the F50 Elite cleat shoe hitting the market next week. And Gulden also noted the recently released the Supernova Rise 3 Adaptive, the brand’s first innovative shoe in partnership with Athletes with Disabilities. He said the reaction from parents with down syndrome children “has been fantastic,” and that the brand is working with these “athletes to make them better athletes and also give them much, much more comfort when they do sport.”
He also said there will be more shoes that will feature hyper boost technology, both in the performance and lifestyle area, particularly in the walking shoe arena where activity is high. “I’m not talking about competitive walking. I’m talking about what people do normally, and [building] specific products for the needs of that activity,” the CEO noted.
As for existing models, Gulden said the Samba has gone into Mary Jane constructions, “which are flying” and an “area where we don’t have enough.” Also in demand is low profile, with “ballerina constructions that are low profile [flying].”
Adidas AG scored a big win from the London Marathon for its new Adizero Adios Pro Evo 3 shoe.
“The achievement meant a lot. It’s the result of many, many months, if not years, of work,” Adidas CEO Bjørn Gulden told investors during a company conference call Wednesday after posting first quarter results.
Sunday’s three London Marathon stars who wore the new Adidas shoe were Kenya’s Sebastian Sawe in men’s and Ethiopia’s Tigist Assefa in women’s, as well as second place men’s finisher Yomif Kejelcha.
“This is not a shoe where we expect to sell thousands of pairs, but the demand is actually thousands of pairs,” he said of the shoe that is priced at $500 a pair.
In the resale market one day after Sunday’s London Marathon, the price had reached upwards of $5,500 on StockX in larger sizes, with the lowest bid going for $1,671 for a men’s size 8. The average resale asking price for the shoe on StockX is currently $2,627.
The CEO also said the most successful running shoe in volume for Adidas continues to be the Adidas Adizero Evo SL. The company said during its last earnings report that the performance shoe sold 10 million pairs. It continues to see double-digit volume growth and will see extended versions including different closure systems, materials and a waterproof option.
