In an interview with The Financial Times, chief executive Kasper Rorsted, who has overseen a revitalisation in Adidas’ forward looking targets since stepping into the top job in 2016, said that the company will cut back on physical locations.
“Our website is the most important store we have in the world,” Rorsted told The Financial Times [Paywall]. “It has priority when we hire [and] when we allocate our resources.”
Adidas’s ecommerce sales increased by 57% in 2017 and total revenues by 16% to more than USD 38 billion globally.
The company plans to double its online sales by 2020 to more than USD 7.3 billion. To achieve this, Adidas invested in digital initiatives such as a shopping mobile app. The company also plans to close 50% of its owned Reebok stores in the US.
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