Adidas strives to substitute plastics as disruption leads to flat sales
Adidas CEO Kasper Rorsted has highlighted the partnership with Pond Biomaterials as the latest step in “pushing boundaries” to make nine out of 10 articles sustainable by 2025.
In a call to investors to discuss the third quarter results, he said: “We're striving to substitute fossil-based plastic materials with plant-based raw materials, all without compromising our performance proposition.”Pond’s technology turns plants into durable resins and engineered biocomposites that can be biodegraded, composted and repurposed.
Mr Rorsted also highlighted the Choose to Give Back collaboration with ThredUP as a way to extend the life cycle of sportswear apparel and footwear. It's currently being piloted in the US and will be rolled out more widely online and in stores in 2022.
Revenues grew 3% in the third quarter to €5.7 billion, despite supply chain disruptions reducing it by around €600 million.
Mr Rorsted added: “We're seeing, when the world is operating in a somewhat normalised environment, we are growing high single, low double-digits and gaining market share, which is very encouraging in the West. But we're also clearly impacted by the East, which is growing negative double-digit, which is why we have the numbers that we have. But the underlying performance in a somewhat normalised market is very satisfying to see.”
The football category grew as new versions of the Predator boot and new football club jerseys sparked excitement. Outdoor continued an “exceptional growth trajectory” while sustainable and technical products launches “drove credibility”.
Image: UltraBOOST sales rose in the double-digits versus 2019.
