Adidas's remarkable journey in 2025 is a testament to its resilience and strategic vision. Despite external challenges, the brand achieved an impressive 11% growth in net sales during the fourth quarter, reaching a staggering 6.08 billion euros. This momentum continued throughout the year, resulting in a 13% increase in net sales on a currency-neutral basis, totaling 24.81 billion euros for the full year.
Bjorn Gulden, Adidas's chief executive, expressed his satisfaction with the year-end results, highlighting the brand's ability to navigate through turbulent times and more than double its operating profit in the fourth quarter.
The year 2025 was a turning point for Adidas, with every sales territory experiencing double-digit growth. Europe and North America, the brand's largest markets, saw a surge of 10% in sales on a currency-neutral basis. Greater China and Japan-South Korea also witnessed impressive growth, with sales increasing by 13% and 14%, respectively.
However, it was the smaller regions that truly shone. Latin America and Emerging Markets categories experienced the most significant growth, with sales in Latin America rising an impressive 22% and Adidas's emerging markets increasing by 17%. Footwear sales also contributed to the success, growing by 12% on a currency-neutral basis, while apparel sales surged by 15%.
But here's where it gets controversial: accessories sales lagged behind, only developing by 6% in 2025. This raises questions about the brand's strategy and the potential need for a refocus on this segment.
Looking ahead to 2026, Adidas anticipates a slight slowdown due to macroeconomic challenges and increased uncertainty. The brand forecasts continued growth but at a more modest pace, expecting sales to increase in the high single digits, adding an additional 2 billion euros in revenue. Operating profit is projected to reach approximately 2.3 billion euros for the year.
Despite the anticipated slowdown, Adidas remains optimistic about its mid-term prospects. Bjorn Gulden expressed confidence in the brand's ability to continue gaining market share and achieving high single-digit sales growth, with an operating margin of over 10% expected in 2028.
So, what do you think? Is Adidas's strategy sustainable in the face of economic challenges? Will the brand be able to maintain its momentum and achieve its ambitious goals? We'd love to hear your thoughts in the comments!
