Adidas is aiming to expand its U.S. market share, the company revealed to the Wall Street Journal on Sunday. The sporting apparel brand has come under pressure in the U.S. sports market after ending its Yeezy shoe partnership with Kanye West.
“We want to double down on all of the things that are U.S.-centric, particularly around sport,” the company’s North America president Rupert Campbell confirmed in the interview. Campbell added that the company is looking to shift away from celebrity endorsements and towards sports, declaring, “we have to show our credentials in this space.”
Campbell explained that the company is looking to improve its performance in the U.S. sports arena, singling out basketball as one market where sales numbers have been considerably low.
The company lost an estimated 600 million euros in sales during the fourth quarter of 2022 after ending its Yeezy deal. This could lead to the company posting its first annual loss in over three decades.
In addition to the Yeezy deal, Adidas is also expected to end its Ivy Park collaboration with pop star Beyoncé according to reports. The current contract is set to expire at the end of the year, with Adidas reportedly unlikely to pursue a renewal.