Adidas may transfer its Russian division to a foreign investor
The company will be able to relaunch the 100 most profitable stores in a new format and with a new name
The German company Adidas, which has closed its stores in Russia, may transfer its local division to a foreign investor.
Kommersant writes about this with reference to real estate market sources and experts.
This way, the company will be able to relaunch about 100 of the chain's most profitable stores in a new format and, most likely, with a new name.
There are no official confirmations or any comments from the company itself on this matter.
Adidas announced the suspension of its operations in Russia after the start of the Russian invasion of Ukraine. A few months later, the company announced that it was finally leaving the country.
At the same time, as Kommersant notes, the Russian structure of Adidas is trying to maintain its activities. In particular, the company has subleased office space for the next three years and signed contracts for subleasing warehouse space.
Last year, Adidas' revenue fell by 55%, and the loss reached almost RUB 8 billion, compared to a net profit of almost RUB 4 billion last year.
Background. As a reminder, Takeda, Asia's largest pharmaceutical company, is selling a plant in Russia. After the invasion began, Takeda stopped new clinical trials in Russia and stopped all investments.
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