Adidas wants access to the painted area.
Adidas may be the official apparel provider for the NBA, but when it comes to basketball shoes, Nike still dominates. Adidas is working hard to change that.
On Sunday, the German footwear and apparel maker announced that it’s bringing its innovative Boost technology in its running shoes to basketball.
Chicago’s Derrick Rose and Portland’s Damian Lillard unveiled the D-Rose 5 Boost and the Crazylight Boost kicks, available Oct. 23 and Sept. 1, respectively, for $140.
“It’s made up of a very different kind of foam to help maximize energy return and responsiveness,” said Chris Grancio, head of Global Basketball sports marketing for Adidas.
Sounds like an amazing on-court shoe, perfect for Derrick Rose’s big return to the parquet.
Despite the new shoe, Adidas has a steep road to climb. The company has just 3 percent retail market share in basketball, compared with Jordan Brands’ (owned by Nike) 58 percent and Nike’s 38 percent in 2014, according to SportsOneSource.
“The category is really dominated by Nike. It’s very difficult for a smaller brand to get room on the shelf,” said Matt Powell, an analyst from SportsOneSource.
Basketball footwear has been a bright spot for the industry, as sales have risen 20 percent year-to-date at a time when the overall footwear market is down. During that same time, Adidas has struggled, with its basketball shoe sales down 20 percent.
One major reason behind the decline—Chicago Bulls star Derrick Rose. Adidas’ highest paid NBA athlete has been sidelined by knee injuries for much of the past two seasons. Rose signed a 13-year deal with Adidas in 2012, reported to be worth more than $185 million.
The folks over at three-stripes have quite a bit of work to do to become the Samsung to Nike’s iPhone, but it sounds like they have every intention of making that a reality.
Via CNBC
© hiphopobama for KicksOnFire.com, 2014. | Permalink | No comment | Add to del.icio.us
Post tags: Adidas, News, Nike, Nike Basketball
Feed enhanced by Better Feed from Ozh
No comments:
Post a Comment