The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BERLIN, Germany — Adidas has extended the German sportswear company's management shake-up under its new chief executive, promoting Western Europe head Gil Steyaert to global operations chief and appointing its first female executive board member since 1993.
CEO Kaspar Rorsted has made improving diversity one of his top priorities since taking over in October from long-serving predecessor Herbert Hainer.
Adidas said in a statement on Wednesday that the supervisory board had elevated Karen Parkin, human resources head since 2014, to the executive board, the first woman in the top team since 1993 when Gilberte Beaux led Adidas as interim CEO.
In March, Rorsted appointed Harm Ohlmeyer as finance chief, replacing Robin Stalker, who served alongside Hainer for 16 years.
Steyaert, a 54-year-old French national who joined Adidas in 1999, will replace Glenn Bennett, who had been on the executive board for 20 years and was responsible for sourcing.
Adidas said the move, which takes effect by Oct. 1, had come because Bennett had informed the supervisory board he would not extend his contract when it expires in March 2018.
By Emma Thomasson; editors: Arno Schuetze and David Goodman.
The company, which has come under fire for allegedly ripping off emerging designers’ work, has partnered with thousands of creatives through its SheinX programme. BoF spoke with participants about what it’s really like to work with the fast-fashion giant.
The brand’s quirky running sneakers are no longer a novelty as rivals like Nike, Adidas and On launch similar styles. Yet sales continue to soar as consumers embrace its winning formula of comfort, versatility and unconventional looks.
As digital advertising costs climb, fashion brands are embracing events like in-store happy hours, trunk shows and parties in various formats to generate brand awareness and drive sales.
The activewear brand’s revenue rose 24 percent year-over-year to $2 billion, reflecting growth driven by China, a successful loyalty programme and new categories