MOSCOW, May 2. Adidas is considering the possibility of transferring Russian assets to a foreign investor, Kommersant newspaper writes, citing sources.
«This will allow restarting about The 100 most profitable stores in the new format,» the article says.
The German manufacturer of sportswear and accessories Adidas AG in March 2022 suspended work in Russia and temporarily closed retail stores. In October, the company made the decision to permanently wind down the business.
The Russian structure of Adidas is still trying to maintain activity. The explanatory notes to the reporting of Adidas LLC dated March 20, 2023 for the last year indicate that the company's management minimizes the consequences of breaking the supply chains of goods.
The division has agreed to a 14% discount on the Moscow office rental for 2023. The company also subleased office space until 2026 and entered into two contracts for the sublease of warehouse space in the village of Novoselki near Moscow for a period up to 2024 and 2026.
Another popular international brand of sports shoes and clothing, Reebok, which was part of the Adidas structure and was sold to the American Authentic Brands Group (ABG) in March last year, also suspended its activities in the Russian market. Later in the spring, it became known that Reebok goods would again be sold in Russia through the Russian legal entity of the Turkish holding FLO Retailing.