In recent months, Adidas’ Samba and Gazelle sneakers have become the most popular shoes on the market. The sportswear company reported “very strong and growing” sales of these shoes, as well as increased demand for running, basketball, and soccer shoes. This growth helped Adidas achieve a net profit of approximately $182 million in the first three months of 2024, a significant improvement compared to the same period last year when the company reported a $26 million loss.
The history of Samba sneakers dates back to the 1950s when they were first worn by a German soccer team in need of durable shoes for icy and snowy playing conditions. Although the design has been updated, the iconic “3-zone profile” (stripes) has remained a trademark symbol for Adidas. Gazelle sneakers, also featuring the three stripes, were initially designed for indoor sports in the 1960s before becoming one of the most recognizable pairs of shoes.
Adidas experienced strong demand for its products in China and Latin America while sales in Europe surged by 14%. However, North America saw a 4% decline in revenue due to overstocked inventory at retailers. Despite these challenges, Adidas CEO Bjørn Gulden remains optimistic about the company’s progress, reinforcing their commitment to investment in products, branding, sales, and marketing for continued growth.
Looking ahead to 2024, Adidas is excited about major sporting events like Euro 2024 and the Copa America soccer tournaments as well as the Olympics on the horizon. The company faces competition from Nike which recently secured rights to be an official kit supplier for Germany national soccer teams ending a longstanding partnership with Adidas that spanned four World Cup wins for men’s team. Despite this setback adidas is determined to bounce back and continue its growth trajectory.