Adidas wants to ‘double down’ on U.S. market, regional head tells Wall Street Journal

Adidas (ADSGn.DE), which is under fire after discontinuing its lucrative Yeezy sneaker relationship with Kanye West, wants a bigger share of the U.S. sports market, its regional chief told the Wall Street Journal.

“We want to double down on all of the things that are U.S.-centric, particularly around sport,” the company’s North America president, Rupert Campbell, said in an interview.

According to media sources, Adidas has ended its Ivy Park collaboration with Beyoncé as well.

Campbell indicated that while Adidas would retain celebrity collaborations, sports was now the U.S. business’s priority, citing basketball’s low share as an example.

“We see an opportunity.”

Last month, Adidas warned the Yeezy split cost it 600 million euros in sales in the fourth quarter of 2022 and could lead to its first year deficit in 30 years.

Campbell remarked, “We have to show our credentials in this space.”