Adidas to Close Stores as Focus Shifts to Online Retail
Speaking with the Financial Times, adidas CEO Kasper Rorsted said “over time, we will have fewer stores but they will be better.”
This falls in line with what analysts are calling the “retail apocalypse,” with in-store sales falling across the board and a growing number of retailers shifting their focus to e-commerce.
Rorsted added, “Our website is the most important store we have in the world. It has priority when we hire, when we allocate our resources and when we build our infrastructure.”
adidas has previously said that it wants to more than double its e-commerce sales to €4 billion ($4.91 billion) by 2020. The German sportswear giant generated around €1.6 billion in online revenue last year.