Adidas is anticipating a €200 million ($230 million) increase in product costs in the second half of 2025 due to current tariff rates, having already absorbed millions in tariff impacts during Q2. Despite this, the company maintains its full-year outlook, projecting double-digit growth excluding Yeezy and high-single-digit growth including it, though it acknowledges increased volatility and risk from U.S. trade policies. In Q2, Adidas saw a 2% revenue increase to about €6 billion, with currency-neutral sales up 12% excluding Yeezy and 8% including it, tempered by a strong euro.
Amid competitors like Nike and Puma facing sales declines and lowered guidance, Adidas is leveraging the situation by boosting marketing investments and avoiding broad price hikes outside the U.S. CEO Bjørn Gulden emphasized maintaining lower price points and sharing tariff costs with suppliers and retailers, while introducing higher-priced new products to offset costs subtly. Adidas is also capitalizing on favorable style trends, particularly with the relaunch of its Superstar shoe and strong demand in lifestyle and performance categories. The company is deepening its local U.S. strategy by investing in American athletes and expanding into college sports and emerging sports trends like pickleball and padel.
