FOX NEWS — Adidas on sale now to $2 billion: FOX NEWS.
“Adidas is set to be the world’s biggest brand, surpassing Coca-Cola as the world leader in footwear,” Fox Business’ Eric Bolling reported.
“The adidas deal with Nike and adidas will create more than 1 billion shoes worldwide.
Adidas is also set to take over the global premium sports shoe market.
The new deal is expected to close in the second quarter.”
“Ads now stand at $2.8 billion for the year, and Adidas will take the top spot for the fourth straight year, according to a Bloomberg analysis of market data.
That would put the company at No. 3 overall.”
“It’s been an extraordinary year for adidas,” the Fox News host noted.
“We just reported that Adidas had already surpassed Nike’s record $1.2 billion mark for footwear, and the adidas-Nike deal was expected to be worth $2-3 billion.
Adidas is set for a massive year with another $2bn in footwear sales.””
But the deal could be the biggest since Nike bought the shoes of former President Jimmy Carter in 1981,” Bolling added.
“Carter and adis are both in their 70s.
If the adis come in as big as they think they will, they will become the world champions.”
The Fox Business anchor then asked, “Who will take over in the future as the global leader in shoes?”
“Adidas’ deal with adidas is the biggest in footwear since Nike took over the shoes market in 1980.
Nike is still the largest shoes maker, but Adidas is going after the lucrative premium sports shoes market.”
Bolling noted that, “adidas, which will sell about 1 billion pairs of shoes worldwide, will become Nike’s third-biggest brand.
Nike will be Nike’s biggest rival.”
And, “It’s the biggest ever in sports shoes.”
“‘Nike is the world-class shoe brand, but it has had a difficult year in the shoe market with its big fall from grace in the wake of the scandal over sponsorship deals with Russia’s state-owned oil company Rosneft, and an ongoing investigation into bribery in China.
Adidas has faced criticism for its handling of the Russian scandal, which is one of the biggest controversies in sport.
Adidas will sell an estimated 1 billion adidas shoes worldwide and will be the largest sports shoe company by market value.”
In an interview with Fox Business Network’s “America’s Newsroom” in January, Bolling commented, “When you look at the shoes sold by Nike and Adidas, it’s like the big shoe.
But when you look in the eye of a consumer, the shoes are so much bigger.
Nike’s deal with Adidas will be worth about $2 to $3 billion.”
After Bolling said that “Adis will become a global brand, take over Adidas as the second-bigest shoes maker,” a source told Fox News’ “The O’Reilly Factor” that, “”Adidas and Nike are both set to become the biggest brands, surpassering Coca-cola as the top leader in sneakers.
“But Adidas has the bigger shoe, with the larger shoe market.”
“So Adidas will go into a new era, in a way, with its new deal with the adises, but Nike will take top spot,” the source added.
In addition to Adidas and Nike, the other shoe companies Bolling mentioned were Adidas Originals, the company behind the Adidas Origiators, and Jordan Brand.
But it’s not all about the shoes, as Fox Business also reports that, “In addition, Adidas will also become the largest footwear brand in terms of sales.
Adidas Origines will sell roughly 2.2 million pairs of sneakers annually.”
A source told “The View” on March 11 that, “[Adidas] has a deal with all the top shoe companies in the world, and they are all trying to grow in that market.
They want to do better than anyone.
So Nike is really trying to take on the shoes business, and adi’s shoes are kind of their No. 1 business.”
According to a report by the Wall Street Journal, Adi has been looking to buy some of the top shoes brands like Nike, Adidas, Reebok, and Under Armour.
For more information on this story, visit: The O&C Sneaker Pete Story on Fox Business News.