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Adidas Announces Closure of More Physical Stores in Coming Years

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Adidas Announces They Will Be Closing More Physical Stores in Coming Years - WORLD OF BUZZ 2
Source: Kuala Lumpur
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Sneakerheads, take note! Your favourite Adidas store may be in jeopardy of getting closed down soon. Before you start thinking that there will be no more Adidas shops for you to buy your Yeezys, don’t worry because Adidas is doing this as part of their movement to focus more on their e-commerce side.

Adidas Announces They Will Be Closing More Physical Stores in Coming Years - WORLD OF BUZZ

Source: Shutterstock

According to an interview with Financial Times, chief executive Kasper Rorsted said that they are expecting to close down more stores in the coming years as they want to double e-commerce sales over the next two years. He said, “Our website is the most important store in the world. It has priority when we hire, when we allocate resources and when we build our infrastructure.”

The sportswear giant did not mention which stores would be closed down but Rorsted said that “over time, we will have fewer stores but they will be better.” This year, he says as part of their bid to make their website and e-commerce sales even better, they will be spending the major part of €900 million (RM4.2 billion) to upgrade their digital operations. Okay, Adidas is doing fine!



Last year, Adidas managed to make €1.6 billion (RM7.59 billion) in e-commerce sales, which is a whopping 57 per cent more but the sportswear group is not satisfied with this amount. They are planning to make more than double their e-commerce sales by 2020 to €4 billion (RM18.99 billion) and closing some of their physical stores is the first step to make that happen.

They already have a smartphone app that has helped boost their sales, which allows a high degree of personalisation. Although it has not been launched in Malaysia yet, it is already available in the US, UK and Germany, and will be launched in France, Spain and Canada soon. Don’t forget about us, Adidas!

Time for some online shopping!

 

Also read: H&M Announces They Will Be Closing More Physical Stores Due to Declining Sales

H&M Announces They Will Be Closing More Physical Stores Due to Declining Sales - WORLD OF BUZZ 1

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