Adidas may become another loss for the Russian market. According to theKommersant, the German sports brand and one of the world's largest sportswear manufacturers may transfer the Russian division to an alternative foreign investor. This move will allow Adidas to relaunch about 100 of the company's most profitable stores in a new format.
Adidas, like many other foreign companies, suspended operations in Russia in March 2022 amid the Ukrainian events, and in October, the German company decided to wind down its business in the country. Nevertheless, the Russian Adidas subsidiary is still trying to maintain operations by subleasing some of its office and warehouse space.
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