Chief Executive of Adidas says they expect to close down many stores in the coming years as part of a shift towards selling more goods online.
Adidas expects to close down stores as part of a shift towards selling more goods online.
In an interview with the Financial Times, Kasper Rorsted said "over time, we will have fewer stores but they will be better," adding that over the coming year the number of Adidas stores was expected to contract slightly.
"Our website is the most important store we have in the world."
Adidas, which wants to double its e-commerce sales to €4 billion ($4.91 billion) by 2020 from the €1.6 billion it hit last year, with 2,500 stores globally and 13,000 additional mono-branded franchise stores, the Financial Times have said.
Nike Inc.’s Converse brand lost its chief marketing officer to streetwear label Supreme, Business of Fashion reports.
Julien Cahn resigned from Converse earlier this year and left the company in February for a marketing role at the up-and-coming brand. Cahn joined Converse in 2016 from parent Nike. Several executives have recently left Nike in the wake of an internal probe into misconduct, though Cahn’s departure wasn’t related, people said. Nike began an internal review of misconduct last month, after complaints from employees. A handful of executives have exited, including Trevor Edwards, who was one of the favorites to succeed Chief Executive Officer Mark Parker.
Last week, an analyst’s report said nine Nike employees at director level or higher, including Cahn, had left the company in the past 35 days amid “recent cultural turmoil.” Nike executives go from director to senior director and then vice president. The departures are seen adding additional “downside risk” to Nike’s long-term growth trajectory, Sam Poser of Susquehanna Financial Group wrote in a note to clients.
Business Of Fashion talk about how times have changed and now you need to go to specific schools, where globals brands have started academic programmes to help them recruit top talents. Such feeder programmes, offering both bachelors and masters degrees, are key to landing entry level positions in global brands.
The series of shots, that are inspired by Kim & Kanye's tabloid images, have a real and wild feel at times. The campaign's fresh and raw approach has helped its trending online.