How Adidas Became Yahoo Finance’s Sports Business of the Year

How Adidas Became Yahoo Finance’s Sports Business of the Year

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James Harden x Adidas Project Harden Vol. 1 “Pioneer” signature basketball sneakers launch in Atlanta.
Courtesy of Adidas.

This has been a banner year for Adidas on all fronts. Its sports product is thriving in 2016 due in large part to sponsorships with players such as NBA star James Harden and World Series champion Kris Bryant. Its Originals division is booming thanks to collaborations with Kanye West and Pharrell Williams and shoes such as the NMD, and the brand is even making a play for the future with innovative 3-D-printed and eco-friendly footwear.

Yahoo Finance took note of the brand’s stellar showing, naming Adidas its sports business of the year. According to Yahoo, Adidas was chosen due to its ability to bounce back after recent struggles in North America and its resilience in the face of a struggling sporting goods industry.

Through November, the brand’s market share of U.S. athletic footwear had increased 7.2 percent in 2016, according to The NPD Group. Furthermore, while sporting goods firms such as Sports Chalet, Bob’s Stores, Eastern Mountain Sports and Sports Authority have filed for bankruptcy — taking a significant bite out of revenues for other brands, including Under Armour — Adidas has shown little signs of slowing down.

Yahoo Finance wasn’t the only outlet that noticed Adidas’ improvement, as president of Adidas North America Mark King was named the Footwear News Achievement Awards 2016 Person of the Year.

adidas CMO Eric Liedtke and Kanye WestAdidas CMO Eric Liedtke (left) and Kanye West.
[“source-ndtv”]