Markets and Sales Channels
We are a global brand with a local mindset. In addition to operating our sales channels, our market teams are empowered to decide about product assortments, activations, and partnerships, driven by their superior knowledge of the local consumer landscape. The majority of our consumers buy our products at the point of sale of our wholesale partners. We ensure that we are a collaborative and trusted partner for them. Moreover, we engage directly with our consumers through own retail stores and our e-commerce platforms.
Local empowerment
We empower our markets to choose their offering from our global product range, create product locally to complement our global range, work with relevant brand partners, and establish the business models they need to be successful. By doing so, we ensure proximity to emerging trends, take into account unique cultural differences, and reduce our time to market. While our headquarters organization in Herzogenaurach, Germany, provides the global framework for how our brand comes to life, our market organizations ensure local relevance. In this context, our home market Europe is managed out of Herzogenaurach, North America out of Portland, and Greater China out of Shanghai. We run Emerging Markets from Dubai, Latin America from Panama City, and Japan/South Korea from Tokyo and Seoul. Several of these regional hubs operate creation centers that develop products that are tailored to local consumer needs and complement our global range. These centers include Portland, Los Angeles, Shanghai, and Tokyo, as well as various locations in Latin America and India. In addition, we run ‘creation at source’ throughout our two largest sourcing countries, Vietnam and Indonesia. Here, product developers work on site at our manufacturing partners’ facilities, allowing for an even closer integration between design and production and accelerating speed to market. SEE PRODUCT AND MARKETING
Regional headquarters and creation centers
Global reach
From a net sales perspective, we have a diversified global footprint. In 2025, Europe – our home market – had the highest share of business at 33% (2024: 32%), followed by North America at 21% (2024: 22%), and Greater China at 15% (2024: 15%). Emerging Markets represented 14% (2024: 14%), complemented by Latin America at 12% (2024: 12%) and Japan/South Korea at 6% (2024: 6%).1
SEE BUSINESS PERFORMANCE BY SEGMENT
Net sales share by market
Sales channels
Our guiding principle is to meet our consumers where they are. Given the strong relevance of multi-brand distribution in several markets and categories globally, wholesale remained our largest channel, accounting for 60% of total net sales in 2025 (2024: 60%). The share of direct-to-consumer (DTC) business, consisting of own retail and e-commerce sales, was 40% in 2025 (2024: 40%).
Net sales share by channel
Wholesale
We focus on being a trusted service partner to our retail partners, both offline and online. Through speed, flexibility, strategic foresight, and the right attitude, we successfully navigate dynamic market environments, tailoring assortments for key accounts and enhancing in-store presentation. At the same time, we are closely managing demand and vigilantly tracking customer sell-out and inventory levels.
We continue to invest in future growth with our partners through branded space initiatives and customer-exclusive products that have a positive impact on our business. In addition, we are building on the positive feedback and strengthening the direct dialogue with our partners through dedicated partner camps. These include immersive showroom visits at our hubs around the world as well as events such as the FIFA World Cup 2026 sell-in meeting, where we hosted over 400 leaders from 170 partners at the SoFi Stadium in Los Angeles. We unlock additional sales opportunities by sharing and scaling these best practices across all of our markets.
Own retail
Our own retail stores allow our consumers to directly interact with our brand, product, teams, and communities. They can touch and try on our products, feel inspired by our stories, and experience what we stand for as a brand. We continued to invest into a premium physical brand presence with digital elements and an environment that satisfies a wide variety of our consumers’ needs in strategic locations.
In 2025, the total number of stores was 2,022 (2024: 1,933), comprising 886 concept stores (2024: 838) and 1,136 factory outlets (2024: 1,095). Our fleet of concept stores – including flagship stores, brand centers, and concession corners – focuses on offering premium experiences, while factory outlet stores are targeted at the value-seeking consumer.
We continued to strengthen our presence in strategic locations through additional store openings, remodels, and concept upgrades during 2025. For example, we opened one of our largest global flagship stores in Las Vegas, building on our momentum in North America and expanding our footprint ahead of the upcoming FIFA World Cup 2026. We also reopened our Manchester flagship store just in time for the launch of the successful Oasis collection. In Asia, we opened new Originals flagship stores in culturally relevant neighborhoods in Seoul and Shanghai that display many locally exclusive products. Our store fleet is complemented by pop-ups that create visibility around locally relevant moments in sports and culture. Examples include our Superstar, Formula 1, and Club World Cup pop-ups, as well as market-led brand exhibitions that support our product releases. We will keep investing in our physical retail fleet, as it represents an essential part of building our brand.
E-commerce
Over the past two years, we have redefined the role of e-commerce within our sales channel mix and successfully focused on improving full-price sales and reducing promotional activity. Our adiClub membership program continues to deliver unique experiences, including raffles, ‘money-can’t-buy’ products, vouchers, and partner offers. Members can use accumulated points across all digital and retail touchpoints, creating a seamless consumer experience. Our award-winning running app keeps millions of consumers active, motivates them by earning adiClub points, provides personalized fitness plans, and brings global brand moments to life. The ‘Confirmed’ app – our digital boutique and premium touchpoint for sneakerheads, streetwear, fashion, and style enthusiasts – continued to thrive through collaborations with high-fashion brands and pioneers such as Wales Bonner, Bad Bunny, Pharrell Williams, BAPE, and Edison Chen. Through these initiatives, the adidas app delivers coveted and premium products to our consumers, offering best-in-class experiences, and further solidifies our status as a trendsetter in the global lifestyle world.
1 Disclosure pursuant to ESRS 2, paragraph 40a ii.