Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Adidas AG is a German multinational corporation, that designs and manufactures shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe.

Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back

Global 500, is an annual ranking of the top 500 corporations worldwide

Global 500

Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
365
Assets(RF), mln.USD
452
Capital(RF), mln.USD
405
Glob.Revenue, mln.USD
23669
Investments, mln.USD
14
Shops
500
Staff(RF), 2021
7000
Taxes(RF), mln.USD
134

The arbitration imposed an arrest on the funds belonging to LLC "Adidas" "and on any other property within the limits of the price of the claim" in the amount of 3.5 billion rubles. Updated Adidas stores may open in Russia in the spring of 2024 under a new name. The rights to sublease retail spaces have been acquired by a structure owned by 'Stockmann' and Lamoda owner Yakov Panchenko. The Moscow Arbitration Court arrested the assets of the Russian subsidiary of Adidas for 3.49 billion rubles as part of a claim from the Dream Island amusement park.

The Company Statement
August 03, 2023

Suspends retail and e-commerce operations in Russia. Adidas said it would suspend sales in Russia, cutting 1 percent of expected revenue growth this year. The company has about 500 stores in Russia and the countries of the former USSR. Adidas announced closing its stores in Russia shortly after the invasion in 2022. The customs records indeed show that shipments of Adidas products stopped as well. However, the shipments have resumed in October of 2022 and by value have easily exceeded pre-invasion levels. Comparing total shipments for Adidas trademark for the last three years leads to a clear conclusion: after the invasion and the Adidas announcement of leaving Russia the imports drastically reduced from the total $195.3 m in '21 to $64 m in '22. Yet toward the second part of '23 the volume has been restored, so the total for that year was $198.7 m.

February 25, 2024Revisiting Adidas Exports into Russia
December 09, 2023A store with Adidas and Reebok products opened in Moscow
December 06, 2023Adidas and Reebok will be sold in the Russian Federation through the new ASP network
November 02, 2023Restart of Adidas stores in Russia may happen in the spring 2024
October 13, 2023A court in Moscow arrested the property of the Russian subsidiary of Adidas for 3.5 billion rubles
June 21, 2023Adidas and Puma Exports into Russia
May 02, 2023Adidas is leaving the Russian track: German sports brand may sell business in the country
October 14, 2022Companies Are Getting Out of Russia, Sometimes at a Cost
September 12, 2022How Western brands 'left' Russia | Life in Russia after sanctions | New McDonald's & Starbucks
August 25, 2022Companies Are Getting Out of Russia, Sometimes at a Cost
May 24, 2022Adidas suspended work in Russia
March 09, 2022OUTLOOK FOR 2022
March 08, 2022Adidas Closes Its Stores in Russia
March 07, 2022Adidas will suspend work in Russia
March 01, 2022Adidas will suspend cooperation with Russian football
February 02, 2022Adidas suspends kit deal with Russian FA
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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