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The global fashion business journal

Jun 6, 20207:03pm

Adidas strides further into Nike’s Kingdom: opens new hub in New York

Adidas opens new hub in New York City of more than 45.000 square feet. The space houses office space and showrooms with latest products and collections.

Jan 13, 2020 — 9:00am
T. Ngo Bii
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Adidas strides further into Nike’s Kingdom: opens new hub in New York

 

 

Adidas strides further into Nike’s kingdom. The German sportswear giant has opened a new hub at 435 Hudson Street, New York, sources of the company have confirmed to Mds. The hub houses office space and showrooms where the latest products and collections are showed to its partners.

 

“The offices are designed according to the innovative Adidas workplace concept: it combines open, communicative areas with those of retreat areas focused for activities and meetings,” said Adidas’s spokesperson. 

 

On the LinkedIn platform, the group enlightened that the space is intended to advance their creation and give endless opportunities to their creators, and to shape the future of sport in the heart of North America.

 

 

 

 

Adidas’ also completed its building-expansion with a new office in its hometown, Herzogenaurach in Germany. The office is known as Arena, due it architectural façade, displaying the office in blocks resembling a stadium, hence the Arena christening.

The sportswear company has been growing at a steady and positive pace for that past years in both North and South America. Last December, the sportswear retailer opened new headquarters in Greenwich Village, New York. The penetration into the US market, Nike’s kingdom, is Adidas’ strategy to gain more market share.

 

Zion Armstrong, the company’s North American president hinted that the US represents 40% of the global sports market, according to WWD. At the end of 2018, Adidas acquired 11% share of the US athletic footwear retail market and 5.4% of its activewear as per NPD’s figures. Yeezy, the American singer-driven fashion company, plans to open a prototype production plant with Adidas in the town of Cody (Wyoming).

 

 

 

 

The Adidas group is made up of other sports brands such as Reebok, Taylormade, and Runastic, the latter being the latest acquisition made in 2015. The German company ended 2018 with a sales revenue reaching 21.905 billion euros, up 8%, an operating profit of 2.368 billion euros, up 14%. The revenues in North America alone reached 4.689 billion euros last year and its operation business was up by 15% in North America and 6%. According to Adidas' last report it has 1,380 stores worldwide.  

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