Adidas

The restructuring that defined Adidas AG’s 2023-2025 period began with a single product decision. The November 2022 termination of the Adidas Yeezy collaboration with Ye (Kanye West), following Ye’s public antisemitic statements, eliminated an estimated €1.2 billion in annual revenue and forced the group to liquidate approximately €1.5 billion in Yeezy inventory through a series of special releases in 2023 and 2024. Bjørn Gulden, appointed CEO in January 2023, led the operational turnaround that returned the group to profitability ahead of schedule. Adidas is listed on the Frankfurt Stock Exchange (ETR: ADS) with no controlling shareholder.

Adolf Dassler founded the company in 1949 in Herzogenaurach, Bavaria, having split the family shoemaking business Gebrüder Dassler Schuhfabrik with his brother Rudolf (who founded Puma). Adidas reported revenue of approximately €23.7 billion in fiscal year 2024, with all major distribution channels and geographies contributing positive growth. The brand architecture consolidates around three product platforms: Adidas Performance (technical athletic product), Adidas Originals (the heritage streetwear division anchored by the Stan Smith, Samba, Gazelle, and Superstar silhouettes), and Adidas Sportswear (lifestyle-athletic casualwear). Reebok was divested to Authentic Brands Group in November 2022, completing Adidas’s return to a single-brand focus. The Originals platform has delivered the strongest recent commercial momentum, with the Samba and Gazelle silhouettes generating widespread cultural visibility across 2023-2025.

Across the Malls.com network, Adidas is present in regional and super-regional centers across the United States, France, Turkey, Hong Kong, the UAE, Singapore, the United Kingdom, Poland, Germany, and additional markets. Flagship mall positions include Roosevelt Field, Aventura Mall, King of Prussia Mall, Westfield Garden State Plaza, Dubai Festival City Centre, and Suntec City. For mall operators, Adidas is a Class A and Class B+ specialty athletic anchor typically taking 3,000 to 8,000 square feet, with outlet-center presence particularly strong alongside premium outlet positions. The brand’s product diversification across performance, heritage streetwear, and lifestyle-athletic categories supports strong sales-per-square-foot metrics across different center types.