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| Reuters |
As sportswear rivals jockey for position ahead of next year's Paris Olympics, Adidas is aiming to stamp its brand on smaller events such as breaking, climbing, skateboarding and BMX.
After a high-profile fallout with Ye, the artist previously known as Kanye West, ended its highly profitable Yeezy shoe line, Adidas CEO Bjorn Gulden is seeking to reboot its image.
And the Olympics are a key arena for the global sportswear giants that spend millions sponsoring athletes, sports federations and national teams, as well as on event marketing.
A shift back to sports rather than celebrities is a key part of a game plan by Gulden, who took over as Adidas (ADSGn.DE) CEO at the start of 2023, to turn around its fortunes - a tactic which will face its biggest international test at Paris 2024.
