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Adidas and Puma, renowned German sportswear firms, are capitalizing on the growing global trend for vintage low-rise rubber-soled 'terrace' sneakers, potentially outpacing Nike this summer. This resurgence, anchored in 1970s and 80s nostalgia, leverages Google Trends data indicating rising interest in these retro styles.
Google Trends data reveals a significant surge in global searches for "Adidas Samba," one of the main terrace styles offered by the brand. The popularity of these shoes reached its peak in mid-June. Analysts suggest that Adidas will benefit more from this trend due to the established name recognition of their terrace range, while Puma may face some challenges.
In contrast, Nike lacks the historical track record and the extensive back catalog of iconic shoes from the 80s to draw upon. The brand is better known for its successful line of chunky basketball shoes, such as the Jordan range. However, it's important to note that although terrace shoe sales are growing, they still represent a small fraction of the overall business for these companies.
Investors will closely scrutinize Puma and Adidas' broader strategies to navigate weak consumer demand. They will be especially interested in the second-quarter results, scheduled for July 26 and August 3, respectively. Both brands are expected to provide further insights into their plans to address the challenges posed by the U.S. market, which has become a major concern for investors after China.
It's worth highlighting that Adidas has experienced a boost from selling its discontinued Yeezy shoes, resulting in an unexpected reduction in the projected operating loss for 2023. Adidas, under the leadership of former Puma CEO Bjorn Gulden, announced that proceeds from Yeezy stock sales would be donated to non-governmental organizations, including the Anti-Defamation League. However, the specific allocation of these proceeds to NGOs is yet to be disclosed.
Puma has seen its shares lagging behind Nike and Adidas in the past year and is expected to share updates on its strategy to enhance its presence in the performance sportswear market. The brand aims to up its game after a reflective period.
Photo: Adidas Newsroom
