Sales in the company's direct-to-consumer (DTC) channels increased by 25 percent during the second quarter. Within this segment, e-commerce growth was 27 percent. For the entire first half of the year, e-commerce growth landed at 26 percent.
The higher e-commerce volume has simultaneously led to increased freight costs. The company cites this as one of the reasons why operating expenses increased by 12 percent to just over two billion euros during the period.
The company's CEO, Bjørn Gulden, comments on the development and highlights how sales have performed in the company's own channels.
25 percent growth in our DTC business with double-digit growth in all regions, including Europe, demonstrates the incredibly strong consumer demand for our brand and proves that we have succeeded in improving our product offering to the various markets around the world, says Bjørn Gulden.
The report also announces a change in the management team. CFO Harm Ohlmeyer will leave his position at the end of the year and will be succeeded by Birgit Kretschmer, who will join the management team in September.
Management thanks Ohlmeyer for his 29 years with the company, where one of his prominent contributions is said to be the establishment of Adidas' e-commerce operations.
With 29 years with the company and ten years as CFO, he has been a strong contributor to our company's success. Among his many achievements is the establishment of our e-commerce business 15 years ago, as well as the divestments of Taylormade and Reebok, which has allowed us to focus entirely on the Adidas brand. Harm was an important partner to me when I took over in 2023 and will continue to be an advisor to me and the board, says Bjørn Gulden.