Adidas wants to 'double down' on U.S. market, regional head tells Wall Street Journal - News Summed Up

Adidas wants to 'double down' on U.S. market, regional head tells Wall Street Journal


FRANKFURT, April 30 (Reuters) - Adidas (ADSGn.DE), which has come under pressure after ending its lucrative Yeezy shoe partnership with Kanye West, is trying to grab a bigger slice of the U.S. sports market, the group's regional head told the Wall Street Journal. "We want to double down on all of the things that are U.S.-centric, particularly around sport," Rupert Campbell, the company's North America president, was quoted as saying in an interview. Apart from ending the Yeezy collaboration, Adidas has also stopped its Ivy Park collaboration with pop star Beyoncé according to media reports, with the contract set to expire at the end of this year. Talking on the overall U.S. sporting-goods market, the world's biggest, Campbell said: "We have to show our credentials in this space." Reporting by Christoph Steitz; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.


Source: Wall Street Journal April 30, 2023 13:08 UTC



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