adidas Set To Close 200 Stores In Russia Due To Country’s Economic Hardship

While adidas is thriving in the U.S. these last few years. things appear to be a little different in Russia. Russia has been going through some difficult economic times, which is why adidas has decided to shut down close to 200 shops all across Russia.

Before it decided on closing 200 stores, adidas had previously owned close to 1,000 stores around the country. Though being that they were one of the market leaders, they were one of the first companies to feel impact of the economic downfall. Pictured above, you can clearly see how popular the adidas brand is in Russia. They are the company that outfits the Russian national soccer team. Recently announcing a net income of 650 million Euros in their latest annual report, adidas knew it was time to make some changes, being that it 650 million Euros was only one third of their initial target for the year.

Here’s to hoping that Russia sees better economic times ahead and for adidas to resume the success it once had in Russia.

via:Sole Collector

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