Adidas’ retro-inspired shoes are flying off shelves
By Jordan Valinsky, CNN
New York (CNN) — Adidas’ Samba and Gazelle sneakers might look like they’re from another decade, but they’re the hottest shoes on sale right now.
The German sportswear company said that sales of the retro-style shoes are “very strong and growing,” helping increase first-quarter growth at the company, which is still trying to find its footing following the dissolution of its lucrative partnership with rapper Ye.
Buoyed by the strength of those shoes, plus higher demand for its running, basketball and soccer shoes, Adidas registered a net profit of about $182 million through the first three months of 2024 — a sharp reversal from the same time period last year when it reported a $26 million loss.
The history of Samba sneakers can be traced back to the 1950s when they were worn by a German soccer team looking for a durable shoe to play on icy and snowy patches. While the actual design has been modernized, the “3-zone profile” (a.k.a. the stripes) have become a trademark symbol for Adidas.
The Gazelle sneakers, which also have the three stripes, date back to the 1960s and were originally designed for indoor sports before morphing into one of the most recognizable pairs of shoes.
In particular, sales in Europe soared 14%, and Adidas also had strong demand for its products in China and Latin America. North America was a sore spot for the brand, with revenue dipping 4% because of overstocked inventory at retailers.
“The markets are still volatile and not easy, but we feel we are making progress everywhere,” said Adidas CEO Bjørn Gulden in a release. “We will continue to ‘over invest’ into the product, into the brand, into sales and marketing to ensure continued growth.”
Adidas confirmed its positive 2024 outlook, particularly with major sporting events ahead including Euro 2024 and Copa America soccer tournaments plus the Olympics.
Rival Nike recently nabbed the rights to be the official kit supplier for the German national soccer teams from 2027 until 2034, bringing an abrupt end to more than seven decades of the sport’s partnership with Adidas, which spanned four World Cup wins for the men’s team.
Last year, Adidas slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, sluggish sales in North America and a huge tax bill.
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