Introducing the Kielce Bike-Expo

Within Central Europe, there’s one bike show that brings together distributors and manufacturers f


50,000 Members for World Class in Romania

As the leading fitness provider in Romania, World Class Romania has enjoyed some good times as of la


Karpacz Poland Sports Venue to be Redeveloped

Thought to be worth nearly PLN 24 million, the local authorities have signed a contract with Tamex O


International Judo Federation Receives New Sponsor

Just in time for the 2017 World Championships for Judo, the International Judo Federation (IJF) has


Warsaw Fitness Club in Plac Unii Office and Retail Complex

Due to be called the Calypso Fitness Club, Warsaw is set to welcome a brand new facility within the


"Business Partner search for the Sports industry in Central Europe"

You are here » Home Page » News » Adidas restructures in Russia

Adidas restructures in Russia

2017-08-23 source own

Adidas, one of the largest sports brands in the world, has announced they will be closing around 160 stores in Russia and the CIS states. With revenue declining by over 10% in recent times, the brand and their CEO, Kasper Rorsted, believe that the market will continue to decline leading to more losses over the months and potentially years ahead.

According to Rorsted, embargoes from the Western states were causing a huge issue for the company. In Russia, their activity in the Crimean peninsula saw them and the whole CIS region lose purchasing power.

Low Oil Prices - In addition to this, crude oil remains as Russia’s most valuable export. However, this is at the lowest price for a long time and it’s affecting the company deeply. In both 2015 and 2016, Russia went though recessions. For Adidas, their extended position within the country is no longer worth the risk and 100 stores have already closed. After this, they plan to close 50-60 more before the end of 2017.

Although their extended presence has been reduced somewhat in the Russian market, this doesn’t spell the end of their influence completely because they still have a whopping 800 stores in the region. With sales causing a problem, there is still growth in different areas of the business and the product range is continually improving in both Saint Petersburg and Moscow.

Looking further afield, Adidas still sits as one of the biggest brands in the world. Between April and June, the company noted an improvement in sales by nearly 20%. In China, North America, and Western Europe, the company is still as strong as ever before with growth figures of 28%, 26%, and 19% respectively.

Image Provided by;Shop Adidas in a complex Capitoliy inside 
ID 88056495 © | Dreamstime

Click here to register to get CeSports latest Business Report on doing business in Central Europe & for an overview on the Sporting Goods market in Central Europe.

Featured Partners

Featured Partners

View more featured partners


Press Releases

View Our Press Releases



View Our FAQ


Sports Business Partner Connections Central Europe

Head logo Rhinos logo order reports