adidas' profits plummeted by 97% - However, slow signs of recovery come from the e-commerce sector

The buying crisis caused by the Covid-19 pandemic and lockdown that has affected much of the world has led many brands to face heavy losses in economic terms and new categories of problems, such as the management of unsold stock and buying habits that are changing from the past. An example of how devastating this lockdown can be not only for small local companies or luxury brands but also for the big titans of the industry comes from adidas. The German brand reported a 97% drop in revenues caused by the lockdown - a collapse of which the brand's CEO, Kasper Rorsted, explained at a press conference the precise anatomy between alarming trends and slow signs of recovery.

adidas declined to provide a perspective for the rest of 2020 given the uncertainty over the end of the lockdown and the reopening of the stores – which is expected between mid-May and June. The data reported by the sportswear giant, however, offers an interesting picture of the changes that have occurred in consumer habits: in Asian stores that have reopened, customers have spent much less, but the interest in fitness has been reinforced with yoga mats that have become one of the best-selling categories. Here's how Kasper Rorsted talked about this trend that inspires brand confidence for the future: