Kasper Rorsted, CEO, adidas
During the second quarter of 2020, adidas reports 93% growth in online sales, which accounted for more than one-third of its total business. However, adidas’ overall second-quarter revenues decreased 34%.
Especially during the lockdown, adidas doubled down on e-commerce as the only fully operational channel through targeted consumer marketing, exclusive product launches and prioritised supply chain management. The brand’s strong focus on e-commerce resulted in triple-digit sales growth in April and May. Online sales continue to grow, even as adidas stores have reopened.
As adidas reports 93% growth in online sales, CEO Kasper Rorsted said, “The past quarter brought unprecedented challenges for our business as large parts of the world were in lockdown. I’m grateful for the relentless and agile efforts of our teams, which enabled us to take the right actions for our consumers, our partners and the company. We addressed the challenges and went after opportunities, as reflected in our e-commerce business nearly doubling in Q2.”
“We are now seeing the light at the end of the tunnel as the normalisation in the physical business continues, with the vast majority of our stores being operational again. From everything we know today, our recovery will continue in Q3. Where we are open for business, be it in physical stores or in the digital space, consumer demand for our products is high. This is a solid foundation to build on as the long-term growth prospects for the industry have become even more promising,” he added.
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