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Adidas to increase sustainability following a good financial year

  • News
  • March 20, 2018
Adidas to increase sustainability following a good financial year

Adidas Group has released its full year reports for the financial year. As well as seeing positive results, the group is also making plans to increase its sustainability measures.

For the full financial year of 2017, the sports group saw a strong year both financially and operationally. Group revenue was up 16 percent, which the reports say is in thanks part to high sales in both Adidas and Reebok labels.

Although the brand as a whole saw an increase of revenue in the double digits, US sales saw a decline, reflective of the number of stores closing within that market place.

The ecommerce side of the brand did particularly well, where revenue grew 57 percent. Net sales for the company were up 15 percent or NZD$36.14 billion.

The company’s gross margin increased 1.2 percent to 50.4 percent. This development was attributed to better pricing and product mix. The company’s operating profit also grew 31 percent.

The company have continued to grow outward into the Asia Pacific region, with the aim to ‘win the consumer’ as one of the brands main outlooks for the coming financial year.

Following the strong operational and financial performance in 2017, the company has also upgraded its 2020 profitability target. The company expects revenue to grow between 10-12 percent, and expects to operating margin increase of 0.5 percent.

As well as expecting an increase of profit, the group have also dedicated to use repurposed plastic in all its products by 2024.

Adidas has been partnered with Parley for the Oceans for a few years now, and in doing so has started using recycled plastics in its sneakers. The group has updated its sustainability model, and now plans to use the recycles plastics in every line.

At the moment, Adidas sells products that are party made with recycled plastics, but not fully. With making over 450 million pairs of shoes annually, the recycling goal is rather large for the company.

According to reports, the partnership already led to one million pairs of shoes sold created from recycled plastics last year. In 2018, it is expected to hit five million.

Eric Liedtke, head of global brands at the company, said in the report that the goal is produce no more new plastic. From cradle to grave to cradle, he explained. “We need to redesign the problem.”

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North City shopping centre is under new management

  • Property
  • July 18, 2018
  • Sarah Dunn
North City shopping centre is under new management

Porirua shopping centre North City has been purchased by Australian property business Angaet Group from Kiwi Property, and Colliers International has been appointed manager of the centre.

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Kathmandu appoints vice president of sales and marketing for North America

  • Who's Where
  • July 17, 2018
  • Sarah Dunn
Kathmandu appoints vice president of sales and marketing for North America

Kiwi outdoor gear retailer Kathmandu has appointed Bill Chandler to the newly-created position of vice president of sales and marketing, Kathmandu North America.

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Several designers announced for New Zealand Fashion Week

  • News
  • July 17, 2018
Several designers announced for New Zealand Fashion Week

Alongside the announcement of Turet Knuefermann opening for New Zealand Fashion Week, the week-long fashion exhibition includes several other big names of New Zealand designers, including first launches and classic returns.

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How businesses are celebrating Matariki

  • News
  • July 17, 2018
  • StopPress Team
How businesses are celebrating Matariki

The Maori New Year is increasing in cultural prominence each year, and some say it's only a matter of time before it becomes an official holiday. Here's how some Kiwi businesses market Matariki this year.

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Stolen Spirits co-founder Jamie Duff launches a new fitness nutrition brand

  • News
  • July 17, 2018
  • Caitlin Salter
Stolen Spirits co-founder Jamie Duff launches a new fitness nutrition brand

Stolen Spirits co-founder Jamie Duff has set up shop in the US alongside former Stolen creative director Kelvin Soh to found a venture studio in New York called New New. And now, the company has just debuted its most recent venture: Weekday Warriors, a direct-to-consumer nutrition company making premium fitness-related convenience products for busy people. Duff has a chat about the new project, as well as breaking into the US market.

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Wellington raincoat-maker Okewa creates a sustainable new line

  • Design
  • July 16, 2018
  • Findlay Buchanan
Wellington raincoat-maker Okewa creates a sustainable new line

Wellington based fashion brand, Okewa, is set to unveil its new capsule of mens and womens coats made from 100 percent recycled post-consumer plastic bottles. The new range will be released next Thursday and will be available for pre-order on the Okewa website and via Kickstarter as part of Plastic-Free July. It presents a new direction for Okewa, who is moving down the sustainability route for its high-quality rainwear range. Founders and loving partners Nevada and Nick Leckie share insights into its new clothing line as well as musings of the brand's origins founded in the windiest city in the world.

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