German sportswear company Adidas expects higher prices for its sneakers and sportswear in the US due to increased tariffs. The company’s CEO, Bjorn Gulden, stated that the 10% base-line duty increase will lead to higher costs for all products sold in the US market.
Adidas has already taken steps to mitigate the impact by sending extra inventory to the US before the tariffs took effect. However, Mr. Gulden warned that cost increases due to higher tariffs will eventually cause price rises.
The company has also redirected some products made in China to other markets, which are expected to become more important for Adidas in the wake of growing trade tensions between global superpowers.
US sales have been sluggish, increasing just 3% in the first three months of the year, while European sales rose 14% and Chinese sales grew 13%. Adidas has refrained from issuing a profit outlook for the full year due to the uncertainty caused by US tariffs.
Source: https://www.nytimes.com/2025/04/29/business/trump-tariffs-adidas-shoes.html