Well-known German sportswear manufacturer Adidas has grown its online presence. Last year, the company realized online sales of 4.3 billion euros. This was an increase of 6 percent.
Adidas recently published its annual report for 2024. The company is well-known for its sportswear and shoes. It has its own online store where customers can order products, but it also works with online marketplaces like Zalando and H&M.
The company’s total direct-to-consumer sales (which include its sales in brick-and-mortar stores) came to 9.7 billion euros last year. This was an increase of 11 percent compared to a year earlier.
Net sales increased 20% in Europe
Adidas generated a revenue of 23.7 billion euros in 2024. This was an increase of 11 percent compared to a year earlier (21.4 billion euros). Within Europe, the company increased its net sales by 20 percent in 2024. It achieved net sales of 7.6 billion euros on the continent.
Adidas generated net sales of 7.6 billion euros in Europe
Within the US, net sales decreased slightly with 2 percent. The company says that this is caused by a conservative sell-in approach to the wholesale channel, as there were still elevated inventory levels in the US. Additionally, Yeezy (Kanye West’s clothing line) sales were lower.
13% increase without Yeezy sales
In 2023, Adidas made a profit of 300 million euros thanks to the sales of Yeezy. A year later, that profit was 200 million euros. By the end of 2024, Adidas cancelled its collaboration with West, in an appropriate response after he published clothing with swastikas in his shop.
According to the sportswear manufacturer, Adidas’s currency-neutral revenues increased 13 percent in 2024, when excluding Yeezy sales in both 2023 and 2024.
