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Adidas to close stores in online push

Adidas

In an interview with the Financial Times, Kasper Rorsted said “over time, we will have fewer stores but they will be better”, adding that over the coming year the number of Adidas stores was expected to contract slightly. “Our website is the most important store we have in the world.”

SEE ALSO : Adidas China to open 2,000 new stores by 2020

Adidas, which wants to more than double its ecommerce sales to 4 billion euros ($4.91 billion) by 2020 from 1.6 billion last year, has 2,500 stores globally and 13,000 additional mono-branded franchise stores, the Financial Times said.

Adidas is the latest company to announce it will be closing several of its brick and mortar stores this year in order to focus more on its online sales. This follows the news that Footlocker will be closing around 110 stores in the United States in 2018 alone.

SEE ALSO : Adidas Originals to open renewal flagship store in Gangnam, Seoul

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.

 

(Source: Highsnobiety)

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