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  • Adidas Unveils Experiential Lifestyle Hub in Bangkoks Songwat District: A Fusion of Fashion, Street Culture & Community

    Adidas Unveils Experiential Lifestyle Hub in Bangkoks Songwat District: A Fusion of Fashion, Street Culture & Community

    Adidas has recently inaugurated a flagship store in the Songwat district of Bangkok, further broadening its experiential retail strategy. This engaging destination seamlessly meshes fashion, street culture, and community involvement.

    A Blend of Retail, Customization, and Community Space

    The two-level establishment unifies retail, food, drink, product customization, and cultural offerings all under one roof. A carefully chosen collection of Adidas Originals merchandise is featured on the ground floor. Meanwhile, the upper level is graced by the specialty coffee brand, % Arabica, which aims to promote longer visits and social engagement.

    The store is further embellished with a Maker Lab for product personalization, a photobooth, and an exclusive Graphic Tee Collection. This collection is the result of a collaboration with local artists and can only be found at this particular Songwat store. It takes inspiration from the district’s rich heritage and presents it through a modern perspective.

    According to Adidas, the design and layout of the store are in line with their Originals’ strategy of transforming brick-and-mortar retail into creative hubs. These spaces not only accommodate commerce but also foster creativity, culture, and a sense of community.

    This opening comes on the heels of the introduction of Adidas’ flagship store at Jewel Changi Airport in Singapore last year. That location also featured experiential zones that drew inspiration from the local culture and storytelling.

    Questions & Answers

    What does the new Adidas store in Bangkok offer?
    The new Adidas store in Bangkok’s Songwat district offers a blend of retail, food and beverage, product customization, and cultural experiences. It also features an exclusive Graphic Tee Collection created in collaboration with local artists.

    What is the strategy behind the design and layout of the Adidas store?
    The design and layout of the store reflect Adidas Originals’ strategy of transforming physical retail into destinations that foster creativity, culture, and community, in addition to commerce.

    What is unique about the Graphic Tee Collection at the new Adidas store?
    The Graphic Tee Collection, which is exclusively available at the Songwat location, is a collaborative work with local artists. It draws inspiration from the neighborhood’s heritage and presents it through a contemporary lens.

  • Adidas Announces Record-breaking Third Quarter Revenue And Upgraded Full-year Profit Projection

    Adidas Announces Record-breaking Third Quarter Revenue And Upgraded Full-year Profit Projection

    Adidas, the renowned sportswear brand, recently announced a significant increase in their revenue for the third quarter. This surge was widespread, affecting all markets, categories, and channels.

    For the third quarter, the company’s total revenue skyrocketed to approximately €6.63 billion (US$7.7 billion), marking the highest third-quarter revenue ever for the company. This was primarily due to a 12% growth in the Adidas brand.

    The company pointed out that the impressive third-quarter results did not include revenue from Yeezy. This is because Adidas had successfully sold off the remainder of their Yeezy inventory at the end of the previous year.

    The gross margin for Adidas saw a slight but notable increase, improving by 0.5 percentage points to 51.8%. Additionally, the operating profit rose to €736 million, marking an increase from the €598 million recorded during the same period the previous year.

    Adidas’ CEO, Bjørn Gulden, expressed his pride in the company’s accomplishments during the third quarter. He mentioned, “Our teams delivered record revenues during a period of global volatility marked by tariff hikes in the US and widespread uncertainty among retailers and consumers. Despite these challenges, our brand and products continue to resonate well with consumers.”

    In light of these positive developments in the third quarter, Adidas has revised its full-year operating profit forecast. The company now expects its operating profit to increase to approximately €2 billion. This is a significant upgrade from their previous projection, which ranged between €1.7 billion and €1.8 billion.

    The improved forecast is a testament to the continuing momentum of the Adidas brand. It also acknowledges the company’s better-than-anticipated business performance and its successful efforts to partially offset the additional costs incurred due to increased US tariffs.

    As far as revenue is concerned, Adidas maintains its expectation of achieving double-digit currency-neutral growth for the year.

    Questions & Answers

    What was Adidas’ total revenue for the third quarter?
    Adidas reported a total third-quarter revenue of approximately €6.63 billion (US$7.7 billion), marking its highest ever for the quarter.

    What are the factors attributed to Adidas’ improved full-year operating profit outlook?
    The revised outlook reflects the continuous momentum of the Adidas brand, better-than-expected business performance, and the company’s successful efforts to partially offset additional costs due to increased US tariffs.

    What is Adidas’ expectation for revenue growth for the year?
    Adidas continues to expect double-digit currency-neutral growth for the year’s revenue.

  • Adidas Unveils Flagship Store At Jewel Changi Airport: Integrating Peranakan Heritage With Innovative Retail Experience

    Adidas Unveils Flagship Store At Jewel Changi Airport: Integrating Peranakan Heritage With Innovative Retail Experience

    Adidas has launched its premier showroom at Jewel Changi Airport in Singapore, incorporating interactive spaces that seamlessly blend the brand’s core identity with local narratives.

    The flagship store offers both lifestyle and performance products, providing customers with a comprehensive shopping experience, according to the brand’s announcement.

    Taking inspiration from Singapore’s rich Peranakan heritage, the two-level showroom features contemporary adaptations of traditional tile designs throughout the interior.

    The store’s aesthetic design prominently features the Jewel Rain Vortex on its second level, providing a stunning retail backdrop.

    The ground level of the store hosts Adidas’s women’s collection, while the second level showcases the men’s line. The second floor is home to interactive areas including the ‘Made for You’ zone, a customization studio allowing customers to personalize their Adidas’s ‘Three Stripes’ products to their preference.

    The Y-3 Premium Corner of the store displays Adidas’s collaboration with Yohji Yamamoto, highlighting a predominantly black palette and minimalist design that underscores Adidas’s position in the luxury market.

    Naful Gani, Adidas Senior Manager of Brand Activation in Singapore, commented on the new store’s design. “With the Jewel Changi Airport store, we’ve deliberately created a space that seamlessly transitions between performance and lifestyle, mirroring our day-to-day life – transitioning between training in performance, living in Originals, and shuttling between both worlds daily,” said Gani.

    Gani further stated that the store’s interiors, inspired by local culture, offer international visitors immediate insights into Singapore’s distinct heritage while enjoying the familiarity of a globally reputed brand environment.

    Questions & Answers

    What does the new Adidas store at Jewel Changi Airport offer?
    The new Adidas store at Singapore’s Jewel Changi Airport offers a comprehensive shopping experience with both lifestyle and performance products. It also features a customization studio allowing customers to personalize their Adidas products.

    What is the unique aspect of the store’s design?
    Inspired by Singapore’s rich Peranakan heritage, the store features contemporary adaptations of traditional tile motifs throughout the interior. The second level of the store prominently features the Jewel Rain Vortex as a stunning retail backdrop.

    What does the Y-3 Premium Corner feature?
    The Y-3 Premium Corner of the store displays Adidas’s collaboration with Yohji Yamamoto, emphasizing a predominantly black palette and minimalist design that underscores Adidas’s luxury positioning.

  • Adidas unveils flagship in Singapore’s Changi Airport

    Adidas unveils flagship in Singapore’s Changi Airport

    Adidas has unveiled its flagship store at Jewel Changi Airport in Singapore, offering experiential zones that seamlessly blend brand identity and local narratives.

    The shop offers both lifestyle and performance products in a unified space, aiming to provide shoppers with a comprehensive experience, according to the brand.

    Drawing inspiration from Singapore’s rich Peranakan heritage, the two-level flagship store boasts of innovative tile motifs throughout its interior. The store’s visual layout includes the Jewel Rain Vortex on its second level, serving as a captivating retail backdrop.

    The women’s collection of Adidas takes center stage on the first floor. Meanwhile, the second floor houses the men’s collection, coupled with interactive zones such as the ‘Made for You’ area. This space features a customization studio enabling customers to personally tailor Adidas’s iconic Three Stripes to their preference.

    The Y-3 Premium Corner showcases the brand’s collaboration with Yohji Yamamoto. Featuring mainly black shades and a minimalist presentation, this section strengthens Adidas’s high-end positioning.

    Naful Gani, Adidas’s Senior Manager of Brand Activation in Singapore, spoke about the innovative store design. “With the Jewel Changi Airport store, we’ve deliberately created a space that merges performance and lifestyle to mirror our current way of life – exercising in performance gear, living in Originals, transitioning between the two worlds every day,” he said.

    He further added, “Through the store’s locally-inspired interiors, international visitors get an immediate glimpse of Singapore’s distinctive heritage, while experiencing the comfort and familiarity of a globally recognized brand atmosphere.”

    Questions & Answers

    What is unique about the new Adidas flagship store at Jewel Changi Airport, Singapore?

    The store offers experiential zones that blend the brand’s identity with local storytelling. It houses both lifestyle and performance products under one roof, providing a comprehensive shopping experience. The store’s design draws inspiration from Singapore’s Peranakan heritage.

    What is the ‘Made for You’ zone at the Adidas store?

    The ‘Made for You’ zone is an interactive area featuring a customization studio. This space allows customers to personalize Adidas’s iconic Three Stripes to their liking.

    What is the Y-3 Premium Corner at the Adidas store?

    The Y-3 Premium Corner showcases the brand’s collaboration with designer Yohji Yamamoto. It features a predominantly black palette and minimalist presentation, reinforcing Adidas’s luxury positioning.

  • Uniqlo and Adidas Consider U.S. Price Increases Amid Rising Asian Tariff Pressures

    Uniqlo and Adidas Consider U.S. Price Increases Amid Rising Asian Tariff Pressures

    In a dramatic turn of events, U.S. President Donald Trump is poised to impose significant tariffs on key apparel sourcing nations, including Vietnam, Cambodia, and Bangladesh. Industry titans like Japan’s Fast Retailing and Germany’s Adidas are now faced with the daunting prospect of raising prices for U.S. consumers.

    This impending tariff storm is seen as a major blow to manufacturers already vulnerable in an increasingly competitive global market. With tariffs set to escalate, brands may soon find themselves caught between rising costs and consumer expectations for affordable fashion. Nike, for instance, has already warned of tariff costs soaring by a staggering $1 billion, a figure that could rattle even the most seasoned retailers.

    The actual impact of these tariffs extends beyond the borders of these Southeast Asian nations. If brands choose to absorb the costs, their margins will take a hit; if they pass the costs onto consumers, they risk losing market share in an already price-sensitive environment. It’s a high-stakes game of chess where every move could determine their future in one of the most lucrative retail markets.

    As industry leaders gather to strategize, the uncertainty of the situation looms large. Fast Retailing, known for its Uniqlo brand, is assessing the potential fallout while Adidas is evaluating its supply chain to mitigate risks. “We’re living in a time where a change in policy can flip the script overnight,” commented an industry insider, alluding to the volatility retailers are facing.

    In this climate of tension and unpredictability, what could be the silver lining? Some experts believe that these tariff challenges could spur innovation and a shift toward more sustainable sourcing practices. After all, when faced with adversity, the retail sector has a reputation for finding creative solutions — like turning an economic lemon into a fashion lemonade.

    Questions & Answers

    How will the tariffs impact prices for consumers in the U.S.?
    The tariffs could lead to significant price increases for apparel products in the U.S., as brands may either absorb the added costs, squeezing their profit margins, or pass them directly onto consumers.

    Which companies are most affected by these impending tariffs?
    Major apparel companies like Fast Retailing and Adidas, which source garments from Vietnam, Cambodia, and Bangladesh, are at the forefront of this issue and are actively reevaluating their pricing strategies.

    What potential opportunities could arise from these challenges?
    Some experts suggest that the tariff-related difficulties may encourage companies to innovate and adopt more sustainable sourcing practices, transforming challenges into pathways for growth.

  • Apparel Giants Adidas And Uniqlo Grapple With Rising Tariffs On Asian Imports

    Apparel Giants Adidas And Uniqlo Grapple With Rising Tariffs On Asian Imports

    Adidas and Fast Retailing have joined the ranks of apparel magnates grappling with the reality of increased product costs in the United States due to new import tariffs levied on key Asian manufacturing nations.

    The Impact of Rising Tariffs

    The US has instigated reciprocal import duties of 20 per cent on Vietnam, 35 per cent on Bangladesh, 36 per cent on Cambodia, and 19 per cent on Indonesia and the Philippines. These tariffs target those countries that rule the roost in the worldwide apparel sourcing industry.

    Adidas CEO, Bjorn Gulden, has indicated that these tariffs could hike the company’s product costs in the US by a staggering US$218 million for the remainder of the year. “The tariffs will directly increase the cost of our products for the US,” Gulden commented. He added that Vietnam is Adidas’ chief production hub for the American market. The company has already felt the sting of tariff-related losses amounting to “double-digit euro millions” in the second quarter.

    Price Adjustments and Strategy

    Fast Retailing CFO, Takeshi Okazaki, confirmed that Uniqlo is set to raise prices to counteract escalating costs. “We will adjust prices flexibly, considering tariffs and other costs to strike a balance between price and value,” he stated. Fast Retailing oversees 74 Uniqlo stores in the US and sources extensively from Southeast Asia, including 60 factories in Vietnam, 27 in Bangladesh and 19 in Cambodia.

    Other world-class corporations are also bracing for the cost surge. Nike, which manufactures half its footwear in Vietnam and 27 per cent in Indonesia, previously announced its anticipation of an additional $1 billion in tariff-related costs and has already initiated price increases. Gap had previously forecasted $250 million to $300 million in extra costs, and H&M has hinted at contemplating price adjustments.

    The Apparel Trade Landscape

    According to the US International Trade Commission, apparel imports into the country amounted to $79.3 billion last year, equivalent to one-fifth of the global total. Vietnam was responsible for 18 per cent of the US market, followed by Bangladesh (9 per cent), India (6 per cent), and Indonesia (5 per cent).

    Questions & Answers

    What is the projected increase in Adidas’ product costs in the US due to the new tariffs?
    Adidas CEO, Bjorn Gulden, estimates that the tariffs could increase the company’s US product costs by up to US$218 million for the rest of the year.

    How is Fast Retailing planning to handle the rising costs due to tariffs?
    Fast Retailing CFO, Takeshi Okazaki, has confirmed that Uniqlo will raise prices to offset the rising costs. He stated that the company will adjust prices flexibly, considering tariffs and other costs to strike a balance between price and value.

    What is the value of apparel imports into the US according to the US International Trade Commission?
    The US International Trade Commission reports that the value of apparel imports into the country last year was $79.3 billion, which is equal to one fifth of the global total.

  • Adidas Revives 90’s Icon With ‘superstar, The Original’ Campaign, Narrated By Samuel L. Jackson

    Adidas Revives 90’s Icon With ‘superstar, The Original’ Campaign, Narrated By Samuel L. Jackson

    Adidas has launched a new campaign entitled “Superstar, The Original,” aimed at rekindling the public’s fascination for its iconic 90s sneaker and Firebird Tracksuit.

    Featuring Prominent Personalities

    The campaign is narrated by renowned actor Samuel L. Jackson and showcases a variety of personalities from the world of art and sports. Noteworthy appearances include Missy Elliott, Jennie, Anthony Edwards, Mark Gonzales, Glorilla, Teezo Touchdown, and Gabbrielle.

    Classic Sneakers with a Modern Twist

    Adidas is bringing back the Superstar sneakers in two of its original color schemes, but with the addition of upgraded padding in the tongue and collar for enhanced comfort.

    A Two-Chapter Narrative

    Directed by Thibaut Grevet, the black-and-white campaign unfolds in two distinct chapters. The first chapter, titled Pyramids, draws an analogy between significant cultural landmarks and the enduring cultural relevance of the Superstar. The second chapter, Clocks, encompasses the entire cast in a visual tale linking the sneaker’s legacy with the innovative spirit of a new generation of creators.

    More Than Just a Sneaker

    Annie Barrett, VP of marketing at Adidas Originals, emphasizes the campaign’s forward-looking perspective. “This campaign isn’t about looking back, it’s about spotlighting a new generation of Originals who are building what’s next, unapologetically,” Barrett said. She further stressed the significance of the Superstar beyond its function as a sneaker. “The Superstar has always been more than just a sneaker. It’s a symbol of originality and a spark for cultural change,” she added.

    Questions & Answers

    What is the objective of Adidas’ “Superstar, The Original” campaign?
    The campaign aims to renew interest in Adidas’ classic 90s sneaker and Firebird Tracksuit.

    Who are some of the personalities featured in the campaign?
    The campaign showcases several artists and athletes, including Missy Elliott, Jennie, Anthony Edwards, Mark Gonzales, Glorilla, Teezo Touchdown, and Gabbrielle.

    What does the Superstar sneaker symbolize according to Annie Barrett, VP of marketing at Adidas Originals?
    Barrett emphasizes that the Superstar is more than just a sneaker. It’s seen as a symbol of originality and a catalyst for cultural change.

  • Adidas, Reebook supplier to sack 6,000 workers

    Adidas, Reebook supplier to sack 6,000 workers

    Footwear maker Pou Yuen Vietnam, the largest employer in HCMC, will lay off nearly 6,000 workers, or 10% of its workforce, amid a decline in orders.

    This is the biggest layoff of the Taiwanese company, a supplier to Adidas and Reebok, since its operation in HCMC in 1996.

    At a recent meeting with city authorities, the company’s management said with orders plummeting their factories are forced to reduce staff.

    Since the end of last year they have been adjusting production plans, furloughing workers and rearranging them between factories.

    They expect to lay off 5,744 workers in two batches on June 24 and July 8. The discharged staff will be paid compensation at the rate of 80% of their last drawn salary for every year they worked.

    During the notice period, workers not coming to work will still be paid full wages.

    Pregnant workers, on maternity leave, having kids under 12 years, from poor households, disabled, and facing other disadvantages will not be laid off.

    Pou Yuen had laid off 2,358 workers in February and over 2,800 in June 2020 just after Covid broke out.

    Layoffs are also happening in many other companies due to the bleak economic situation.

    A survey by the city Department of Labors, Invalids, and Social Affairs of 4,000 firms in Q1 found 31% had reduced their workforce and only 19% increased it.

    Layoffs often occur in footwear, garments, construction, and food processing sectors.

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  • Man arrested for making and selling 200,000 counterfeit Nike, Adidas, and Uniqlo socks

    Man arrested for making and selling 200,000 counterfeit Nike, Adidas, and Uniqlo socks

    In a recent case of intellectual property rights violation, a man in Hanoi was found guilty of manufacturing and selling 200,000 fake Nike, Adidas, and Uniqlo socks. The counterfeit items were being retailed at wholesale prices between VND4,500–5,000 (US$0.18–0.20) per pair.

    Investigation and Prosecution

    The Economic Police Department in Hanoi reported the prosecution of Nguyen Van Thien, 51, for the aforementioned offense. The investigation divulged that Thien had initiated a sock manufacturing and trade business in Quoc Oai District in 2015. He initially supplied socks to various companies under his own brand named “Thien Duong”.

    In 2018, Thien observed the surging demand for socks adorned with popular brand logos such as Nike, Adidas, and Uniqlo. Consequently, he started producing counterfeit versions of these highly sought-after socks.

    Fraudulent Business Operations

    Thien arranged for the procurement of knitting machines, instructing the suppliers to pre-install the logos of Nike, Adidas, and Uniqlo into the machine software. He also sourced labels and tags from unregulated producers and hired four workers to operate the machines and manage the packaging process.

    A raid conducted on January 4 unveiled a large stock of counterfeit socks. The authorities confiscated 3,450 pairs of socks with the Adidas logo, 14,400 pairs with the Nike logo, and 2,100 pairs bearing the Uniqlo brand. They also found 1,500 loose socks branded with Nike logo. The authorities seized over 10 machines, 200 heat-molding frames, and nearly 70 kg of labels in total.

    Extent of the Counterfeit Operations

    The investigators discovered that Thien had been producing and distributing counterfeit socks since 2022. He is estimated to have sold around 200,000 counterfeit socks with a total market value of more than VND240 million (US$9,400).

    These fake socks were primarily sold at a profit margin of about 25% via various e-commerce platforms, social media, and suburban markets.

    Questions & Answers

    What was Nguyen Van Thien charged with?
    Nguyen Van Thien was prosecuted for violating intellectual property rights by manufacturing and selling counterfeit Nike, Adidas, and Uniqlo socks.

    How did Thien manage to manufacture the counterfeit socks?
    Thien procured knitting machines and instructed the suppliers to pre-install the logos of Nike, Adidas, and Uniqlo into the machine software. He also procured labels and tags from unregulated vendors and hired workers to manage the production process.

    Where and how were the counterfeit socks sold?
    The counterfeit socks were predominantly sold in bulk through e-commerce platforms, social media, and suburban markets, allowing for a 25% profit margin.

  • Adidas posts higher revenue, profit

    Adidas posts higher revenue, profit

    Adidas saw its revenue surge in the last fiscal year, according to the athleticwear company’s preliminary results.

    Revenue soared 24 percent to €23.68 billion (US$24.70 billion), while gross margin improved to 50.8 percent, with operating profit up 398.9 percent to €1.34 billion.

    “We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance,” said Bjorn Gulden, Adidas CEO.

    “Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions.”

    Last October, the company said it expects full-year revenue to rise 10 percent and operating profit to reach around €1.2 billion.

    Adidas will publish the final results and 2025 financial guidance on March 5.

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  • Nike and Adidas supplier offers bigger Tet bonuses

    Nike and Adidas supplier offers bigger Tet bonuses

    Some 130,000 workers at Taiwanese-invested footwear maker Pou Chen Vietnam, a contract manufacturer for giants like Nike, Adidas and Puma, will enjoy a 30% increase in Tet bonuses this year.

    That puts the annual windfall for employees at the global shoe supplier back to pre-Covid levels.

    Eight Pou Chen Vietnam factories in HCMC and four in the southern provinces of Dong Nai, Tien Giang, Tay Ninh and Ba Ria Vung Tau announced on Monday that they will set aside over VND1.5 trillion ($62.5 million) as bonuses for workers for the upcoming Tet (Lunar New Year Festival). Tet, the most important festival in Vietnam, falls in late January 2023.

    Depending on seniority, workers who have worked for the company a full year or more will be given Tet bonuses of 1-2.2 months’ salary, from around VND6.5 million ($274.20) to nearly VND26 million. The highest bonus in 2022 was 1.54 months’ salary, while in 2021 the figure stood at 1.87 months.

    Besides Tet bonuses, the biggest and most anticipated reward for workers, Vietnam’s largest employer and trade unions at of its eight factories have planned provide free bus tickets home to migrant workers who will be able to enjoy Tet in their hometowns. Other gifts to poor employees will also be distributed.

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  • Adidas puts partnership with Kanye West under review

    Adidas puts partnership with Kanye West under review

    Adidas says it is reviewing its Yeezy partnership with Kanye West days after he showed a “White Lives Matter” T-shirt design at Paris Fashion Week.

    The company did not mention the controversy but said “successful partnerships are rooted in mutual respect and shared values”. The rapper and fashion designer responded on Instagram, claiming the firm “stole” his designs. That post now appears to have been deleted.

    Adidas told the BBC it had made the decision to put the partnership under review after “repeated efforts to privately resolve the situation.” A spokesperson for the German sportswear company also said that the “Adidas Yeezy partnership is one of the most successful collaborations in our industry’s history.”

    In his Instagram post, Mr West also used a strong expletive, adding “I AM ADIDAS.”

    Earlier this week, he was criticised after he presented a collection at Paris Fashion Week that included T-shirts with the slogan “White Lives Matter”.

    The phrase Black Lives Matter, which represents opposition to racism and police brutality, was widely used after George Floyd, an unarmed black man, was killed by a police officer in Minneapolis in the summer of 2020.

    Vogue’s Gabriella Karefa-Johnson, who is global fashion editor-at-large at the fashion magazine, was among those who criticised West over the T-shirts, calling the move “hugely irresponsible.”

    In response, Mr West responded by lashing out at Ms Karefa-Johnson and posted photographs of her mocking her appearance to his 17.9 million followers.

    “She was personally targeted and bullied. It is unacceptable. Now, more than ever, voices like hers are needed and in a private meeting with Ye today she once again spoke her truth in a way she felt best, on her terms.”

    The almost decade-long partnership between Adidas and West has been strained for some time.

    At the centre of their collaboration is a hugely popular range of sneakers – known as Yeezy – which cost hundreds of dollars, with new releases often selling out within minutes.

    In June, he accused Adidas of making a shoe that looked similar to the distinctive Yeezy design, but was not part of their deal.

    Adidas said it will continue to co-manage the partnership while the review is under way.

    The announcement from Adidas comes less than a month after West’s lawyers sent a letter to fashion chain Gap to say he would no longer work with the firm.

    He accused Gap of failing to honour terms of the deal, including by failing to open standalone stores for his Yeezy fashion label.

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  • In Singapore, Zalora launches supermart-style pop-up with Adidas

    In Singapore, Zalora launches supermart-style pop-up with Adidas

    Zalora Group has unveiled a supermarket-inspired pop-up store in collaboration with Adidas at Bugis Junction, Singapore.  The Supermart by Zalora store is designed with a supermarket layout, featuring pop colours and Instagrammable corners. The pop up stocks more than 90 SKUs of Adidas, ranging from footwear, apparel, and accessories for men and women, and an exclusive range.  Through a ‘click-and-mortar experience’, customers visiting the store can purchase their favourite ite

    Through a ‘click-and-mortar experience’, customers visiting the store can purchase their favourite items by scanning the QR codes tagged on them and adding them to their cart on the Zalora app. The order will then be delivered to their doorstep.

    Zalora also partnered with three local artists, Hoon Jialing, Eman Raharno Jeman and Tiffany Tan, to create gift-with-purchase packaging with graphic artwork that incorporates the brand and artists’ aesthetics. Marking the launch, Zalora is also running an interactive game to further engage with its customer.

    The Supermart by Zalora will open until August 12.

  • H&M closes Shanghai flagship after Covid lockdowns

    H&M closes Shanghai flagship after Covid lockdowns

    H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton.

    Although it was open earlier this month, the three-storey building in downtown Shanghai was on Friday boarded up with its H&M signage gone.

    The world’s second-biggest fast-fashion retailer entered China in 2007 with the opening of the Shanghai flagship store and rapidly expanded. It had more than 500 stores in mainland China early last year but its website currently only lists 376, including the flagship Shanghai store.

    The company declined to comment, citing a blackout period prior to its first-half earnings report on June 29.

    Although nearly a month has passed since Shanghai lifted a strict two-month lockdown, consumers have yet to return to malls in significant numbers.

    Chinese consumers have also beat a retreat from its products after a letter in which H&M expressed concerns about allegations of forced labour in the Xinjiang region came to light in 2021.

    Other brands that publicly disavowed Xinjiang cotton such as Inditex’s, Zara, Nike and Adidas have also suffered with Chinese netizens calling for boycotts and Chinese celebrities refusing to work with them.

    But the backlash against H&M, the first foreign retailer to express concerns, has been particularly harsh. Unlike other brands, its products remain unavailable on major Chinese e-commerce sites such as Tmall and JD.com.

    UN experts and rights groups estimate over a million people, mainly Uyghurs and other Muslim minorities, have been detained in recent years in a vast system of camps in China’s western Xinjiang region.

    Many former inmates have said they were subject to ideological training and abuse in the camps. China denies all accusations of abuse.

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  • Adidas lowers 2022 expectations amid China lockdowns

    Adidas lowers 2022 expectations amid China lockdowns

    Adidas lowered expectations for 2022 after a first-quarter slump as renewed COVID-19-related lockdowns in Greater China continues to hit the German sportswear company.

    First-quarter currency-adjusted sales shrank by 3% worldwide, to 5.3 billion euros ($5.58 billion), while profit from continuing operations fell 38%, to 310 million euros, it said on Friday.

    In Greater China, sales collapsed by 35% in the first quarter; for the year, revenue is expected to fall significantly due to store closures and strong traffic declines.

    The company now expects to come in at the lower end of its 2022 forecast for an 11-13% increase in currency-neutral sales as well as for net income from continuing operations of between 1.8 and 1.9 billion euros.

    Adidas also cut its operating margin forecast, saying it will remain at the previous year’s level of 9.4% instead of increasing to 11%.

    “In this environment, characterized by severe external challenges, it is imperative to stay focused on our strategic objectives,” said Chief Executive Kasper Rorsted.

    “While we will remain agile, we will not jeopardize our long-term growth opportunity for short-term profit optimization.”

    The company expects a return to growth in the second quarter despite the continued sales decline in Greater China and a 200-million-euro negative impact from supply chain constraints.

    In the second half of 2022, net sales are expected to grow over 20%, driven, among other things, by unconstrained supply, strong momentum in Western markets and major sports events.

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