Adidas AG
Explore Adidas
Core profile pages, annual revenue records, and related research hubs for this company.
Adidas AG
Explore Adidas
Core profile pages, annual revenue records, and related research hubs for this company.
Business Model Analysis
Annual Revenue: $26.8B / EUR24.8B (FY2025)
Adidas makes money by designing and marketing footwear, apparel, and accessories sold through wholesale partners, owned retail stores, and e-commerce. In 2025, wholesale represented 60% of net sales and direct-to-consumer represented 40%, with footwear as the largest product category.
Adidas' growth strategy is to keep sport at the center, scale running and football, manage archive lifestyle demand carefully, strengthen DTC without weakening wholesale partners, localize products by market, and protect full-price sell-through.
Adidas earns revenue by selling footwear, apparel, and accessories through wholesale partners, own retail stores, e-commerce, and selected licensing or collaboration models.
Wholesale remained Adidas' largest channel in 2025 at 60% of net sales, while direct-to-consumer represented 40%.
Footwear is Adidas' biggest product category, with EUR14.232 billion in FY2025 net sales.
Full-price sell-through protects brand equity, gross margin, and retailer confidence, especially after the Yeezy inventory overhang.
Adidas gives regional teams control over assortments, activations, and partnerships so global products stay locally relevant.