Virtua’s Post

🏆LET’S WRAP UP Q1 2024 🏆 ** ADIDAS AMSTERDAM BC STORE KALVERSTRAAT ** As we bring Q1 to a close we wanted to take moment of reflection on the performance of the store, my incredible leadership team, and the store team. Firstly, thank you to you all for your relentless efforts, continuously pushing boundaries and getting behind the growth mindset. Last week was a record-breaking week for AMS BC sitting at an impressive +210.8% NS vs LY, we saw 97% more FF so that’s +113% spread. It was a crazy week but one to remember! Ending Q1 in the best possible position sitting at +107% NS vs LY, CR +2.66pp, +87% vs IPB. This means currently we are sitting at the 3rd best performing store against the full north cluster, UK, Nordics, and Benelux! Growth has been the mindset to bring this level of success to our second full year of trade. Setting up a brand-new team, brand new store takes time to really start showing the desired results and build credibility within the local community and store fleet. How? We continually pushed our commercial readiness, service windows to raise CR, training, leadership meetings and consistency all round! We look forward to bringing the full team together to share insights of Q1 in the coming weeks and set the tone for Q2. Most importantly to continue to build on the foundation we set for ourselves last year. The foundation was laid … now we’re building the house 😉! ** WE GOT THIS ** #amsterdamretail #amsterdamstore #breakingrecords #growthmindset #wegothis Scott Croll Nick De jong Fransje de Vlugt Sebastian Tenbergen Adrian Jesionek Velazquez Collin Williams Fabio Bueno Tanaka Ieva Uzkurataite Alice Veltri Ciaran Daffan

Wow! Very brave of adidas' CEO, Bjørn Gulden, to offer his personal phone number and encourage direct communication with 60,000 employees. This leadership approach is a positive paradigm for talent management. By breaking down hierarchical barriers, Gulden fosters a culture of inclusivity and approachability. This empowers employees to share their ideas and concerns, leading to improved communication and collaboration. This leadership approach aligns with the preferences of the contemporary workforce, adopting an informal communication style. When employees feel comfortable engaging with leadership, they are more likely to seek mentorship, guidance, and professional development opportunities, which facilitates a culture of continuous learning and growth. Bold action delivers bold results. Gulden's strategy of promoting transparency is creating an environment that attracts, retains, and develops talent. It's a winning strategy for Adidas in the ever-evolving landscape of sports and the business world. They are now on track to return to profitability this year. What do you think? Would this approach by your CEO make you more inclined to stay, leave, or has no impact on your engagement with your employer? #talentmanagement #employeeengagement #performance #sports #leadership

Gymshark appoints new General Managers 👏 The British fitness and sportswear retailer has announced the appointment of Hannah Mercer to the newly created role of General Manager for Wholesale and Retail. They also announced that Kimberly Dolder will become the new General Manager of North America. Mercer joins Gymshark following six years at Adidas serving as Global Vice President where she led the brand's global retail strategy. She has also worked for iconic brands Nike, Harrods and House of Fraser. Dolder assumes her new role having spent four years at Abercrombie & Fitch as Senior Vice President and General Manager for the Gilly Hicks brand. Ben Francis MBE, CEO of Gymshark, commented: "It’s no secret that we are looking to build on the success of our flagship store in Regent Street and massively turn up the volume on our omnichannel strategy. And I can think of no better person to lead this charge than Hannah. She’s obviously got pretty much unparalleled experience in the retail industry, but her appetite for genuine community-led initiatives, as well as her commitment to inclusivity and diversity make her such an exciting signing for Gymshark. North America is comfortably our biggest region, responsible for half of our annual revenues. Yet, we still have such a small slice of the market, meaning the opportunity for Gymshark here truly is massive. As we look up our brand awareness and physical presence, I can think of no one better than Kim to lead this charge." Mercer said: "I’ve been watching the Gymshark story closely for a number of years now and it was really the only brand I would have chosen to join. Its strategy of moving from solely an Ecom business to being fully Omnichannel, is bold to say the least. But it’s this boldness, this ambition, this relentless pursuit of building communities coupled with Global expansion across all channels, that makes me so excited to join such a dynamic brand." Dolder added: "There are two things that really get me out of bed in the morning - the world of fitness and growing brands in the market. Therefore, to be able to join Gymshark at this point on its incredible journey is a dream come true.” #News #Sport #Fitness #Sportswear #Manager #Strategy #Leadership

“You have to be more American to be successful in America. You have to be in the American sports.” This from adidas’ CEO Bjorn Gulden, in a statement accompanying Q2 preliminary results, which saw North America sales down 7% in the quarter. It is never too late to admit flaws in a brand’s strategy, although it does beg the question ‘why so late?’ But then, in the same interview, Gulden goes on to add: ‘We have tough competition in the U.S. from American brands, and we have to be better than what we have been before to be successful.” When Gulden says ‘American brands’ is he hinting at Nike? Under Armour? The grass isn’t that green in their own backyards either. Truth of the matter is that brands should obsess over their customers, not their rivals. To say it with Jeff Bezos: '“If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right.” So it definitely comes as good news that the German sportswear giant is finally understanding the importance of brand localization, which is the strategy of adapting a global brand to local markets’ specific characteristics to develop meaningful and authentic relationships with local consumers. Because ultimately, successfully localizing your brand means building cultural relevance, enhancing consumer engagement, nurturing long-term relationships with consumers and retail partners, which all lead to gaining competitive advantage. However, dear Bjorn Gulden, stop obsessing about your competitors, only be aware of them and keep focusing on removing all the obstacles between your great brand and your consumers’ journey. Read more about adidas’ turnaround strategy in North America in the Retail Dive article linked below in the comments.👇 #sportswear #sports #brandstrategy #leadership #consumerjourney #brandlocalization #consumerengagement #retail #turnaround #linkedinpostsbymariopace

Nike’s current, frantic backtracking on their wholesale-DTC strategy is fascinating to watch and has major implications for the outdoor industry. A lot has been written about how the loss of wholesale business has directly impacted overall revenue levels or how they missed the synergistic impact of physical retail presence to their overall DTC business. What’s less reported is that focusing so much time and energy on running DTC took their eye off the ball on product innovation. This is important for the outdoor industry because many outdoor brands looked to Nike as a strategic benchmark and bellwether. This was particularly true of The North Face, whose leadership would privately voice their vision of being “the Nike of outdoor.” They closely watched and followed Nike’s strategies, going so far as to hire the VP of Nike Direct North America as their Global Brand President in early 2022. Within a month of her arrival, Moosejaw was informed that our 30-year relationship with TNF would be ending that fall. The sales folks at TNF knew that this was not a good move, as Moosejaw clearly didn’t fall into the category of “undifferentiated retail”, but sacrificial lambs were needed, and we were a big enough target to show meaningful progress toward the new edict. Fast forward two years and TNF is back at Moosejaw, and TNF has a new global leader. So what lessons should outdoor industry brands take away from all of this? 1.     When looking at an aspirational benchmark brand, don’t assume that all of their strategies are good just because their overall business is good. 2.     Be careful when implementing tactics from other industries and make sure you are mindful of what makes the outdoor industry unique (which it is in so many ways). 3.     Always ask, “how does this benefit our customer” when considering any strategy. Does the customer benefit when you take away the ability to touch and see the product in their local market and push them online? 4.     Remember that people and relationships matter in life and in business. #OutdoorIndustry

Chapter 3: **Adidas HQ Chronicles: A Triumph in Market Leadership 🚀👟** Reflecting on my impactful journey with Adidas unveils a thrilling narrative of conquering markets and achieving unprecedented success. 🌟 **📈 Market Domination Achieved:** Engineered a strategic surge in market share, orchestrating initiatives that propelled Adidas to new heights. Witnessing the brand's ascension to dominance was both exhilarating and rewarding. #MarketMilestone **🌍 Global Impact, United Teams:** Led cross-functional collaborations that reshaped our market approach, leaving an indelible mark on our global presence. Every success was a testament to the power of a united team driving toward a shared vision. #GlobalLeadership **🚀 Innovation Redefined:** Pioneered cutting-edge design projects that not only turned heads but redefined industry standards. Innovation was not just a goal; it was the core force driving our market breakthroughs. #InnovationPioneer **🔍 Consumer Insights Mastery:** Decoded consumer behavior, shaping strategies that resonated globally. It was a journey beyond products, crafting experiences that not only met but exceeded consumer expectations. #ConsumerCentricSuccess As I reminisce about the past chapters, the legacy of conquering markets and breaking barriers with Adidas fills me with pride. Here's to the achievements of yesterday and the limitless possibilities of tomorrow! 🏹💼 #AdidasSuccessStory #MarketLeadership #InnovationJourney #NextLevelAchievements 🌐✨ Christine Barth-Darkow Sabine Maren Ederer Andrea Loeffler Barbara Tacchini FABIO DI IORIO Adolfo Haendler Gustavo Sant'Anna Barbara Lechner Dave Thomas Cristina Garcia Loriente Alice Testi Tiffany Thorp Antje Birkel Joaquin Moya Compes Jordi Closa Sybille Baumann Sharon Thompson Daniela Kraft Fiona Johnson

Adidas was desperate. The company was struggling to adapt to a post-pandemic world. It was reeling after its popular collaboration with Kanye West fell apart. And it was bleeding money, on its way to losing $794 million in the fourth quarter of 2022. Facing strong headwinds, Adidas contacted a former employee and invited him to become its new CEO. But this wasn't just any former employee. Bjørn Gulden had spent the last decade running Adidas’ rival, Puma, where he had already led a major turnaround. (Puma basically tripled sales during Gulden’s tenure.) Upon accepting, Adidas’ share price jumped 30%, with some calling the hire a “Gulden opportunity.” Then, in his first town hall with Adidas, Gulden did something very unusual: He shared his personal telephone number with the entire company... All 60,000 employees. “[Employees] should have access to leadership,” Gulden told Norges Bank Investment Management CEO Nicolai Tangen in a recent interview. “And if they have something which is important they should be feeling comfortable going direct [to me].” “Some people think I’m crazy,” Gulden told the Wall Street Journal, referring to the practice. It’s true. Most people would say a boss handing out his cellphone number to tens of thousands of people a bit crazy. I call it brilliant. It’s a brilliant example of emotional intelligence in the real world, one that every business leader can learn from. Let’s see why, and how you can apply those learnings to yourself and your team. #management #adidas #emotionalintelligence #leadership #personalgrowth #eq #eqapplied #MakeEmotionsWorkForYouNotAgainstYou https://lnkd.in/eWF3KPmn

I came across the below article about Adidas. Despite its already one year old ... it severely touched me. Quote: "[Employees] should have access to leadership," Gulden told Norges Bank Investment Management CEO Nicolai Tangen in a recent interview. "And if they have something which is important, they should be feeling comfortable going direct [to me]." Thus, being a great quote ... this is not new. Anyone wo worked in one of my teams in the last decade heard that before. We call it the "green button philosophy". If you have an issue, it only takes "to press this green button" on your phone to talk to me. It even extends for people no longer in my team. I am looking at you Ze...../St...../Ta.../Ml..../... 📞 💬 😁 . It does not happen often. Every once in a while, someone takes the chance and uses the "green button". I was called during a prayer, while on the treadmill, while out with the kids. It was always important. Important to this person and thus ... meaningful to me. Life told me only two things are important... relationships and experiences. The "green button philosophy" ensures you as a leader work on the 1st one and in parallel create the 2nd one for others. What experiences have you made in approaching your boss? Let me know. Full article:

This is the holy grail. 1) Outsized investment in building brand (12% invested in marketing!!) improves sell-through and relationships with retailers. 2) Reduction of underperforming inventory (-22%) mitigates liability of excess goods. 3) Elimination of reliance on discounting = double digit increase in sell-through of full price goods. 4) Overall, operating profit increased to €336m, up 458.4% from €60m in the same quarter last year. 5) Long-term focus = alignment across leadership as to when “success” will be achieved. “With this continued investment, Gulden said he hopes Adidas will be “good and healthy” again by 2026.” WAY TO GO, ADIDAS! https://lnkd.in/eGWfhYx6

In the Shadow of Nike, where all sports brands linger for years. I am an Operator trained as a Country General Manager, overseeing brands and their support teams, and as a CEO. I've worked on four different continents during my career, including recently. It is always about the right strategies and execution. If you think sitting behind a desk analyzing data will solely lead to brand success. You would be wrong. Today, more than ever, the leader behind a brand must have a vision and be visible in all channels to see and feel that customer experience coming to life through service and the products they deliver. Here are several thoughts Under Armour should consider improving on substantially. - Brand Positioning - marketing campaigns that resonate with a broad audience - Innovation - Create the trends - Product Diversification - performance and fashion...make a statement - Community Building - engaging with customers through stronger events. - Loyalty Programs - there has to be a stronger connection - Global Expansion - fit the market You can create trends or chase them. The former is about leading, while the latter is about being in the shadows of the leaders. #retailing #strategy #ceo #technology #innovation #underarmour