Adidas has hired Carla Murphy, former VP, global brand & product, Icebreaker, as general manager of its outdoor segment that’s being targeted for accelerated growth, according to a report in the Financial Times.
In an interview with the publication, Kasper Rorsted, Adidas’ CEO, said Adidas has set a goal to become one of the world’s four biggest outdoor brands by 2025. He estimates Adidas is currently “number six or seven” among outdoor companies.
“Outdoor today is the third-largest market segment [in sportswear] in the world. It’s non-consolidated and it’s one where we know that we can make a huge difference,” he said, adding that quick wins were unlikely and the ascent would happen over “the next five to 10 years”.
As part of the shift in investments to support outdoor’s growth, Adidas is retreating from several niche sports, including eliminating lacrosse and Australian Rules Football and reducing its exposure in wrestling and cricket, where it is seeking licensing partners.
“It’s important to reallocate resources to the most important areas. We are reducing on one side to double down on the areas that are the most important ones,” Rorsted said.
Photo courtesy Adidas
