adidas to Close Physical Stores to Turn Focus onto Online Retail

By April 9, 2018Fashion News

Focusing on quality, not quantity.

In the midst of multiple franchises closing a number of their physical storefronts, it looks like adidas will be making a similar move to not only try and focus their attention onto online sales but to also improve the experience shoppers have while browsing in the stores that do remain. This change seems like a necessary one if they are to try and achieve the forecasted figure of $4.91 billion in sales in 2020 compared to the $1.6 billion they achieved in 2017. Specifically, adidas CEO, Kasper Rorsted, in an interview with the Financial Times explained: “over time, we will have fewer stores but they will be better” adding, “our website is the most important store we have in the world.”

As for what stores adidas own at the moment the number stands at 2,500 globally and 13,000 additional mono-branded franchise stores. I guess we will have to wait and see how this number changes over the coming years.