These sneakers are the reason Adidas just toppled Under Armour
Adidas has reclaimed its position in the world of athletic wear.
In its most recent quarter, sales soared 21% on a currency-neutral basis from this time last year for the entire parent company. The Adidas brand itself grew an impressive 25% on a currency-neutral basis. In North America, currency neutral sales grew 26%.
Bloomberg also notes that one product that has really triggered growth for the brand are the iconic Stan Smith shoes.
The shoes, which were named after tennis player Stan Smith, were first brought on the market in 1963. They were pulled from shelves in 2012, and reintroduced in 2014, as Business Insider's Dennis Green reported last year.
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"The resurgence truly took off with a carefully orchestrated relaunch starting with limited editions, a runway appearance and the help of fashion bloggers and social media influencers," Megan Hartman, strategy director at Red Peak Branding, said to Glossy.
The company had celebrities show photos of their own Stan Smiths on Instagram, like Ellen DeGeneres.
In 2015, Business Insider put the shoes on its list of the 18 most important sneakers of all time.
Adidas's growth comes at a time when Nike and Under Armour — amid sales growth — have faced headwinds.
"The stellar financial performance in the second quarter is proof positive that our strategy is paying off," Adidas Group CEO Herbert Hainer said in a press release. "We are putting the consumer at the heart of everything we do. We inspire them with unique experiences. We engage with them through marketing initiatives unheard of before. And we excite them with the most innovative and stylish products. As a result, the desirability of our brands and products is greater than ever before."
According to a letter to shareholders in the company's quarterly report, this was Hainer's final time giving quarterly remarks. Kasper Rorsted will take over on October 1. (It was reported earlier this year that Hainer would step down.)
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