Adidas 2018 Q1 Revenue Was It’s Highest Ever
Well, Adidas is surely making a surge as one of the most dominant companies in footwear. The company reported the largest Q1 in the history of the company in 2018.
“The adidas Group recorded a very strong start into the year 2018. During the first quarter, Group revenues increased 22% on a currency-neutral basis, with accelerating momentum at both adidas and Reebok,” according to Adidas Group.
“In euro terms, Group revenues grew 17% to EUR 4.769 billion which is approximately $5.24 Billion (2018: EUR 4.083), the highest quarterly revenue in the Group’s history.”
Adidas has been changing the sneaker game with technology like the boost material, which is arguably some of the most comfortable technology out at the moment.
Meanwhile, the companies major competitor Nike, reported a larger revenue, though it’s a strong possibility that Adidas could challenge them much more in years to come.
“Revenues for NIKE, Inc. increased 5 percent to $8.4 billion, up 14 percent on a currency-neutral basis,” according to Nike News.
It’s possible that Kanye West’s big move from Nike to Adidas completely changed the game for the company. His Yeezy Boost sneaker collection which includes models like the 350, 750 and a more, have become instant sellouts.
On eBay, Adidas Yeezy Boosts fetch astronomical prices that rival that of major high-end fashion brands. We’re talking well over $1,000 in many cases.
