What: in an interview, Adidas CEO announced a new retail concept and opening plan to be unveiled in March 2021

Why it is important: Although Adidas online sales increased, stores are seen as a complementary, and necessary, tool to online, as customers need to see and feel products.

Adidas posted a 51% increase yoy online on Q3 2020, following a +93% on Q2. Overall, estimates for 2020 are at EUR 4 billion, to be compared to EUR 1 billion in 2016. These excellent results do not change Adidas CEO Kasper Rorsted’s opinion on stores: they are needed as a place to see and feel the products. He hinted at a new retail concept to be unveiled and rolled out next March.

Adidas will keep opening new stores despite Covid e-commerce surge