Bjorn Gulden

Adidas has mounted one of the more remarkable turnarounds in recent memory after facing a crisis two years ago from the end of its Yeezy business. BoF spoke to chief executive Bjørn Gulden and other members of Adidas’ leadership to unpack how a series of bold decisions on products like its Samba sneaker, a move to refocus the brand on athletes and internal shifts brought Adidas back from the brink.

Two years ago, Adidas was in crisis after terminating its Yeezy business. But since then, the brand has engineered a remarkable turnaround, led by CEO Bjørn Gulden and the success of its Samba sneakers. Gulden and other Adidas executives opened up about the changes that got the company back on track, and what’s next for the sneaker giant.

Bjorn Gulden’s reliance on gut instinct has produced some successes already, but investors are wondering how far it will carry the company and whether it could create new vulnerabilities in the future.

As sportswear rivals jockey for position ahead of next year’s Paris Olympics, Adidas is aiming to stamp its brand on smaller events such as breaking, climbing, skateboarding and BMX.

At its annual meeting Thursday, the company confirmed plans to sell its remaining stock of Yeezy sneakers rather than destroy the merchandise. Adidas also told investors that an investigation into Ye’s workplace misconduct did not substantiate claims of harassment.

The brand has begun its turnaround strategy led by China market head Adrian Siu, focussing on ‘hyperlocalisation’.

The German sportswear giant hinted it could try to sell already produced sneakers from the collaboration, but predicted its first annual loss in over three decades.

New CEO Bjorn Gulden will face questions about the doomed collaboration when the company reports earnings this week. That, plus what else to watch for in the coming days.

The first Fenty x Puma tie-up wrote the textbook for successful celebrity-brand collaborations. The pair will have to work harder to get the same reception in a market that’s now saturated with sneaker launches, and where elegance is elbowing out streetwear on the runway.

For years, the German sportswear maker lacked a distinct identity. But Puma has found success in multi-brand retail and has gained a foothold in markets where Nike and Adidas aren’t dominant.